10/25/2010
The customer signed for the EIN for his DBA account. If we open an account under the customer's name, it might affect his taxes. How do we title the account, so that the taxes are done correctly and they are filed under the EIN, not his personal SSN. [Jane Doe - SSN(the owner_ DBA Jane Doe -EIN]
10/25/2010
What is the correct ownership on a checking account with husband and wife DBA Smith Lawncare? Both own the funds.
10/25/2010
Can a DBA business account having more then one employee report under a SSN and not a TID?
10/11/2010
I have a client who has a DBA. It is expired. She will not provide a new DBA. What are the correct steps of action or is that up to bank policy?
09/20/2010
A customer has a DBA sole proprietorship using his social security number. Are there any regs, etc., that say it cannot be in a "personal type" checking account? We only have a "commercial account" and nothing for the small "mom and pop" type of business.
09/06/2010
We have a customer with a DBA. The checks are made payable to the DBA. The customer has an endorsement stamp that reads the name of the business and "for deposit only". After stamping all the checks for deposit only, he wants to take cash back from the deposit by signing the front of the deposit slip where is says "sign here if cash received from deposit". I say there is a restricted endorsement and he must deposit it all. If he wants cash, he can write a check for the amount he wants. Am I right?
08/30/2010
I have been in banking for awhile and am being told I am making a mountain out of a mole hill. When it comes to DBA accounts, I have one opinion on what purpose/style account should be opened and I am being told by others that I am not correct. There are two differing opinions when we open a DBA account. For example, one opinion is that Mickey Mouse DBA Great Escape Mousetraps should be opened as a personal style account, where at the account maintenance level, the code would indicate consumer for the purpose of household or personal use. The other opinion is one in which it should opened as a business style account, where at the account maintenance level, the code would indicate business for the purpose of business. The reporting tax ID number in both situations would be the customer’s Social Security Number. If I understand correctly, there are different regulations regarding the purpose/style of an account and there are different protections and benefits for each purpose/style. Can you please help as to which purpose/style would be proper? My best interest is doing things the correct way for the both the bank and the customer.
06/07/2010
Can a corporation have an account set up with an LLC. Exp. ABC Garden Inc., DBA Greenhouse Nursery, LLC?
05/24/2010
Is it possible to put an LLC under an irrevocable trust, such as: Mary Snow Irrevocable Trust DBA Mary's Thrift Store LLC?
05/24/2010
Our institution recently started to offer business accounts. How do we handle DBA, INC, LLC, CORP, etc., accounts when the principal officer or owner dies?