Account Styling: SSN or TIN for DDA in individual name, DBA as company?

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Question:

When opening a DDA in an individual's name, DBA as a company, can we use the individual's social security number, or are we required to use a business tax ID number?

Answer:

The IRS will accept either the sole proprietor's SSN or the EIN issued to the sole proprietor (if he has one).

However, the IRS has expressed a preference that banks obtain and use the SSN in these cases.

First published on BankersOnline.com 04/21/03