October 2 - 4 Early Bird tickets are now ON SALE. Purchase your tickets today and save $100!

Get tickets

October 2 - 4 Early Bird tickets are now ON SALE. Purchase your tickets today and save $100!

Get tickets
Skip to content

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
btn_google_dark_normal_ios Created with Sketch.
Continue with Google
Continue with Apple
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Followed Discussions Followed Categories Followed People Followed Locations
Personal Finance
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
Market Trends & Data
Buying & Selling Real Estate
Out of State Investing
Real Estate News & Current Events
Real Estate Technology
Investor Mindset
General Info
BiggerPockets Exclusive PRO Area
PRO
General Real Estate Investing
BPCON
New Member Introductions
Questions About BiggerPockets & Official Site Announcements
Off Topic
Starting Out
Real Estate Success Stories
Real Estate Horror Stories
Real Estate Strategies
House Hacking
Commercial Real Estate Investing
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
Innovative Strategies
Mobile Home Park Investing
Land & New Construction
Multi-Family and Apartment Investing
Wholesaling
Rehabbing & House Flipping
Short-Term & Vacation Rental Discussions presented by
Tax Liens & Mortgage Notes
Medium-Term Rentals
Buying & Selling Small Businesses
Outdoor Hospitality
Landlording & Rental Properties
General Landlording & Rental Properties
Managing Your Property
Marketing Your Property
Tenant Screening
First-Time Home Buyer
Real Estate Professionals
Mortgage Brokers & Lenders
Contractors
Real Estate Agent
Financial, Tax, & Legal
Creative Real Estate Financing presented by
Personal Finance
Insurance
Private Lending & Conventional Mortgage Advice
Tax, SDIRAs & Cost Segregation presented by
Foreclosures
1031 Exchanges presented by
Goals, Business Plans & Entities
Legal & Legislation
Real Estate Classifieds
Classifieds
Real Estate Events & Meetups
Reviews & Feedback
Ask About A Real Estate Company
Real Estate Deal Analysis & Advice
Guru, Book, & Course Reviews
Syndications & Passive Real Estate Investing
Deep Patel's profile image
Deep Patel's profile image
Deep Patel
  • from Woolwich Twp, NJ
  • Member since Sep 7, 2017

User Stats

41
Posts
19
Votes
Deep Patel's profile image
Deep Patel's profile image
Deep Patel
  • from Woolwich Twp, NJ
  • Member since Sep 7, 2017
Deep Patel
  • Woolwich Twp, NJ
19
Votes |
41
Posts
Personal Finance

Disregard entity and bank account

Deep Patel
  • Woolwich Twp, NJ
Posted
Hi all. We are in the middle of a 1031 exchange currently. To statisfy the same taxpayer technicality we opened a single member LLC that is disregarded for tax purposes. However, now without an EIN we are having trouble opening a bank account for it. Is it only possible to open it under your personal name and DBA affiliated with it? Or is there a way for a disregarded entity to acquire a bank account and credit card under the LLC? Thanks in advance!
0 Votes
Follow
6 Replies
Jump to Last Reply
Log In or Sign Up to Reply

Most Popular Reply

Basit Siddiqi's profile image
Basit Siddiqi's profile image
Basit Siddiqi
  • Accountant
  • from New York, NY
  • Member since Sep 27, 2015

User Stats

8,691
Posts
3,978
Votes
Basit Siddiqi's profile image
Basit Siddiqi's profile image
Basit Siddiqi
  • Accountant
  • from New York, NY
  • Member since Sep 27, 2015
Basit Siddiqi
  • Accountant
  • New York, NY
3,978
Votes |
8,691
Posts
Basit Siddiqi
  • Accountant
  • New York, NY
Replied

@Deep Patel

It is possible to have a single member LLC with its own EIN and still be considered a disregarded entity and filed with your personal tax return.

business profile image
Basit Siddiqi CPA
4.9 stars
78 Reviews

Contact us

By clicking send, you affirm you have read and agree to the BiggerPockets Terms, acknowledge the BiggerPockets Privacy Policy, and you agree BiggerPockets and its network of professionals may use automated technology or pre‒recorded messages to deliver marketing calls, texts, or emails to the number or email your provide regarding your real estate needs. You also agree BiggerPockets and its affiliates may use automated technology or pre‒recorded messages to deliver marketing calls, texts, or emails to you regarding offers and other content that may interest you. Consent is not a condition of purchase. Message and data rates may apply. Message frequency varies. You can unsubscribe at any time by replying STOP or clicking the unsubscribe link (where available) in one of our messages.

1 Vote
Log In or Sign Up to Reply
Sort By:

Loading replies...