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Updated about 6 years ago,

Deep Patel's profile image
Deep Patel's profile image
Deep Patel
  • from Woolwich Twp, NJ
  • Member since Sep 7, 2017
Connect

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41
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19
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Deep Patel's profile image
Deep Patel's profile image
Deep Patel
  • from Woolwich Twp, NJ
  • Member since Sep 7, 2017
Connect
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!
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