Business Account Team Quiz

What business account will we not open? (choose all that apply)

• A Payday Loan Company

• An Individual using an ITIN

• A Political Campaign

• A PTA

When does an Assumed Name Certificate expire (aka DBA)?

• 5 years from date of filing

• 10 years from date of filing

• 3 years from date of filing

• Never

When do Articles of Incorporation expire?

• 5 years

• 10 years

• Never; they never expire

• Whenever they change owners

If a member doesn't have their EIN letter, what can we do?

• Ask them to call the IRS to fax it to us

• Ask them to give it to us verbally if they are sure it's correct

• If it's a non-profit, we can look it up on irs.gov/charity

• Ask them to send it to us on letterhead

An LLC can open a business account using a social security number or an EIN? True or False?

• True

• False

When removing a signer from a business account, who can authorize a signer to be removed?

• Any authorized signer

• The President only

• The owner of the company