Transferring money from your business bank account to your personal bank account

[danielle-51]

If you are a member of a family owned LLC, and you need to transfer  money from your business bank account to your personal bank account, does it have to be in the form of a guaranteed payment? Or can you just make the transfer? This would be for a member who is not actively involved in the day to day business, but a passive member...someone, who because of age, is not interested in being actively involved, but nonetheless would have a right to our family business account.

[Bsch4477 · Accepted solution]

You can transfer money to any account or individual you wish but keep good records to separate business from personal activity.