Beneficial ownership rule for new bank account for SD IRA LLC

[Shera Gregory]

The new bank rules require someone to be named as the beneficial owner of the account. Under the Beneficial Ownership Rule,1 a bank must establish and maintain written procedures that are reasonably designed to identify and verify beneficial owner(s) of legal entity customers and to include such procedures in its anti-money laundering compliance program.May 5, 2018. I want to open an account for the LLC where my IRA is the member. My brother is the manager. So who should be listed as the owner? Will it be a problem if I am listed as the beneficial owner? Don't want to run afoul of the disqualified party rules.