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BSA Exemption: One ID Number for Multiple DBAs

Answered by: 
John Burnett

Question: 
I will be exempting a number of accounts for BSA. Some of these customers have more than one account under the same ID number but with different names, ie: Sandhar Corporation dba Marathon 4, and Sandhar Corporation dba Marathon 5. Do I need to do an Exemption form for each separate account, or can I do one form as long as the ID number is the same?
Answer: 

If you designate a person as exempt from CTR filings, you operate at the level of the customer, and exempt all of the customer's eligible accounts. In the case you've given as an example, Sandhar Corporation is your customer, and it operates a couple of (apparently) Marathon gas stations. Both of the gas stations are part of the corporation's operations, and both accounts are exempted under a single DEP filing.

First published on BankersOnline.com 5/29/06

First published on 05/29/2006

Filed under: 
Operations
Security
Filed under operations as: 
DBA
ID
IT
Filed under security as: 
DBA
ID
IT
Operations

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