[amred]

I have a bank I deal with in my 501(c)(3) business and two other accounts (personal, eBay). I found out that the bank was cashing my payroll checks using the account number of the 501(c)(3). The 501(c)(3) account is in my name and I was told it was illegal to cash my payroll check using the 501(c)(3) account. Is this true? Is there any laws or statutes that prohibit this from happening? There is nothing in our groups bylaws or business structure that prohibits this from happening.

If anyone can help; please do as soon as possible please!!

[Fr_Chuck]

You can not deposit your personal money into a 501C account, all personal money has to be keep separate, Also a 501C account should not be in your name, it should be in the business name with you only as a authorised user.

If the account is in your name, there may be some violation in the mixing of money.

Also not sure what you mean by "used in cashing" if you take a check to the bank and cash it, the money is not being put into any account and no real bank account is used, unless you mean to show you have that amount in the bank, but most banks will cash anyone's payroll check if they have an account there.

But yes, stop using any 501c account for any other purpose, and don't have it in a personal name it has to be a business account in the name of the busninss. Using the business EIN number instead of your social number,

[ScottGem]

501(c)(3) is a section of the US tax code dealing with tax exempt charity organizations. The IRS code for will list the rules and regs for this accounts set up under this.