Accounts with one or more DBAs

[Maria Morales]

Our institution is currently revaluating the way we onboard accounts with one or more DBAs. We’d like to know how other institutions onboard these types of accounts. Does your institution create a CIF for each DBA? Is the DBA name(s) listed on Add’l name line 1 or 2? How do you handle a DBA with its own TIN #?

[Beth Riggenbach]

We do create CIFs on DBAs so they can be searchable. When we create the accounts we list the individual 1st and relate the DBA to the account as a DBA. Our documents list the DBA as an “owner” so we do list them on the name lines so they appear on statements, notices, etc.

We would also like to know how other FIs do this…………

[Author]

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