We are not aware of a prohibition on accepting corporate ACH credit transactions into a personal deposit account, provided that the payee matches the accountholder’s name. In our view, these deposits should be treated as independent contractor or sole proprietor deposits into personal accounts, and it is the accountholder’s responsibility to track these payments for federal income tax purposes.
Can we accept corporate ACH deposits into a personal account? We are seeing ACH deposits for customers who are Uber and Lyft drivers that are coded CCD, with the payee listed as the accountholder’s personal name.
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