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Can LLC Earn Interest On A Bank Account?

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Question: 
Can an LLC earn interest on a bank account?
Answer: 

With the repeal of Reg Q in July 2011 any business entity can have an interest bearing checking account. Also any business can have a savings or time account. However, Reg D has not changed so for-profit LLC's would still be prohibited from having a NOW account.

First published on 07/08/2018

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