Skip to content

Reg D Interest Bearing Checking Account

Answered by: 

Question: 
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?
Answer: 

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

Filed under: 
Filed under compliance as: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics