If you see large dollar transfers from a person's business account (an LLC) to a person's personal account, and then you see large AMEX payments on both accounts, would you consider that co-mingling funds?
Can a corporation sweep from a personal account? We say no but are checking what you think?
If only 1 person is 100% of the corporation can they name a POD on the checking account?
I have a question on the state registrations that we request from a business that is opening deposit accounts. We request the registrations for the business based on that states that they do business in. For example: a business registered in DE (but no office) but has an office that they operate out of in NH – we would request the businesses DE registrations & NH state registration as a foreign entity. We’re getting a little push back on this practice, and I’m hoping that someone can point me in the direction of if this is a regulatory requirement, or more of a business practice?
We have a new business that wants to open an account. The business is a US corporation but it is owned by Canadian individuals. All the paperwork is here for being able to conduct business in the states. My question is when I do the paperwork for the individual owners, do I need to make sure they sign a W-8BEN too?
We have an LLC which back in 2008 had one DBA name associated with it. In 2012 there was another addition on the Iowa Secretary of State's records showing a new DBA name attached to the LLC. Then in 2015 there was yet another DBA name was added to the account.
Can an LLC have more than one DBA name on the same bank account, or should she have separate bank accounts for each? The customer prefers one.
Our revised signature cards require us to indicate whether a corporation is an "S" or a "C" and the tax classification of an LLC (C corp, S Corp or Partnership.) Why is this information pertinent for a deposit account?
I am an operations officer at a small community bank and I need some solutions to a couple of questions. Can a bank deposit a check payable to an individual into an LLC or corporate account (the individual is a part of the LLC or corporate account)? An example - John Doe has a check made payable to him and he wants to deposit it into his LLC account (John Doe Trucking, LLC). Also, what documentation does a customer need to provide a bank if the customer has an LLC account with the bank but recently purchased another business and has checks made payable to the newly purchased business that need to be deposited into the LLC account (that is not in the name of the newly purchased business)? An example - my LLC is titled Never Hungry Cafe, LLC. I recently purchased Mary's Cafe and just for simplicity for my customers they still make their checks out to Mary's Cafe but I need to deposit these checks into my Never Hungry LLC. Any guidance would be greatly appreciated.
Can a Corporation sign as an Officer for another Corporation?
I have a customer who has multiple LLC each with their own EIN. He wants to consolidate them and manage them all through one account under the Parent Company LLC which does have an EIN as well. Can this be done and if so, would he have to relinquish the individual EINs of each LLC that he is combining? How would each entity remain separate but also be under one account?