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Reg D Interest Bearing Checking Account

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With regard to Reg. D, I was always under the impression that a single member LLC could have an interest bearing checking account. Can you add anything to that?

With the repeal of Regulation Q in 2011, any entity can have an interest bearing checking account. However, the Reg D definition of a Negotiable Order of Withdrawal (NOW) account has not changed. For-profit corporations, partnerships, LLC's, etc. are still prohibited from having NOW accounts.

First published on 06/07/2015

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