Guide on Legal and Tax Implications regarding Director's Loan Account in Ireland. Learn more on how to minimise the risks involved today.Illinois corporate name. The name must contain the word "Corporation," "Company," "Incorporated," "Limited" or an abbreviation thereof. I am trying to find a way to enter money taken out of the business as a loan from the company to the Director, and I'm not sure what ledgers to set up. Putting some money into your limited company and wondering how to open your director's loan account? Corporations must complete Form IL-1120. ​​ Computer generated printouts are not acceptable, even if they are in the same format as IDOR's forms. A provider of Registered Agent, UCC search and filing, compliance and entity services, CSC helps Fortune 500 corporations do business better. If a company is short of cash a director can lend it money.