CTR on Spousal Sole Proprietorship Account

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Question:

We have a joint account for a sole proprietorship that is owned by a husband and wife as a DBA, but for tax purposes the business is filed under the wife's TIN. Should the DBA be listed in Part I, Section A, #5 for both the wife and husband on the CTR form or just the wife?

Answer:

When in doubt, go back to the old rule that you don't list a name more than once on a CTR. I suggest you list the wife and her DBA name in Section A, page 1 and husband on Section A, page 2. There is no need to include the DBA information in item #5 on the entry for the husband.

First published on BankersOnline.com 11/03/08