- Be sure to bring proper tax identification, which your bank will need for its records. For a limited liability company (LLC) or a corporation, you will need an Employer Identification Number (EIN). If your business is a proprietorship, your Social Security number will satisfy the bank's requirements. If you happen to have an EIN, you may use it for your proprietorship. If you are getting the account for your nonprofit corporation, you will need to prove its tax-exempt status under section 501 c of the Internal Revenue Code by providing a copy of the Internal Revenue Service's ruling letter.
- Because your company is a separate legal entity, your bank will need its authorization for opening the bank account. The document for an LLC or a corporation is a corporate resolution. It should name the bank and provide the names of those company personnel who are authorized to sign checks and other documents on the new account. Sole proprietors do not need this kind of authorization.
- The bank also needs proof that your company was formed properly under state law. The company's articles of incorporation will satisfy this requirement. For LLCs, the limited liability partnership agreement or the certificate of limited liability partnership will suffice. The document should give the names of the partners and the name of the company. Company proprietors should provide a business license or a document covering the filing of the company's name.
- Each bank has its own account application forms, which the bank needs for contact purposes. When you complete the form, the bank will have your company's telephone numbers, mailing address and the names of contacts at the company. The bank will provide signature cards, which the persons at the company who will have signing authority should complete. Once the bank's account officer approves all the account-opening documents, you can activate the account by making the initial deposit.
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