How to Open a Bank Account for Your Corporation or LLC

Opening a business bank account for your corporation or LLC requires preparing certain documents and meeting specific business bank account requirements. Use the checklist below to ensure a smooth process.

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Required Documentation

Corporate / LLC Documents

Articles of Incorporation (for corporations) or Articles of Organization (for LLCs) — filed copies.
Current Certificate of Good Standing (issued within the last 60 days).

Renewing a Certificate of Good Standing

If your certificate is more than 60 days old:

Request a new copy from the Secretary of State where your company is filed.

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Bank Account Authorization

Banks must verify your authority to act for the business. Be prepared with:

Account Opening Documents establishing your signing authority.
Public records showing your role as a corporate officer.
If your state does not list manager/officer names:
- A signed statement from the incorporator confirming your ownership may be required.
In certain cases, you may need to re-file articles to update your name or business address in public records.
A corporate resolution signed by the President, Vice President, or Treasurer authorizing the bank account and naming the account signers is recommended.

Initial Deposit & Identification

To open the account, you must provide:

Financial Requirements

An initial deposit of $100–$500
(Brokerage accounts may require a higher deposit.)

Identification Requirements

Valid photo ID (e.g., driver’s license).
Your company’s EIN (Employer Identification Number).
- You can apply online with the IRS in about 20 minutes.
Your Social Security number (for the individual signer, for identity verification).

The bank will use the signature card you complete to verify checks presented to the account.

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Foreign Qualification (If Required)

You may need to qualify your company as a foreign corporation/LLC in the state where you will conduct business.
(Not all banks require this.)

Understanding Your Company Purpose

Banks comply with “Know Your Customer” (KYC) regulations. The representative will ask about:

Your company’s purpose
Current operations
Anticipated future activities

These answers help ensure compliance and reduce the risk of fraud.

Bank Fraud Safeguards: Questions Banks Commonly Ask

Be prepared to answer:

Business Details

What is your company’s primary business activity?
Expected monthly deposit amount?
Maximum single deposit size?
How many checks will you write per month?
Do you need a debit or credit card?
What is your projected monthly balance?

Additional Banking Services

Will you accept business credit cards?
Do you have a personal business account with this bank? If not, would you consider opening one?
Are you looking to open a brokerage account?
Would you like a personal savings account alongside your business account?

These questions help the bank understand your financial needs and maintain security and regulatory compliance.

Why Open a Brokerage Account for Your Business?

A business brokerage account allows you to:

Issue checks directly from the brokerage account.
Receive wire transfers.
Link brokerage funds to the company’s bank account.
Discuss investment options with a licensed professional.

How to Open a Brokerage Account

The process is similar to opening a personal account:

Complete the brokerage application.
Schedule an appointment at the bank.
Provide required documents, including:
- SS-4 / EIN Application
  (Used to verify that the EIN applicant is the same person making investment decisions.)

A mismatch may prevent the account from being opened.

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What States Should You Consider When Buying a Shelf Corporation?

Choose a state with:

Low annual fees
Strong property rights
No public disclosure requirements for company owners

Recommended states:

Montana Corporations

Annual filing fee: $20
Strong privacy protection

New Mexico LLCs

No annual fee
Highly compatible for use in California

Open Your Business Bank Account Today

Take the first step to financial independence and streamline your corporate operations.

Call: (484) 599-1070

Email: assetprofile@gmail.com

Read Our Frequently Asked Questions

What is the best state to buy a shelf corporation from?Asset Profile2025-12-04T09:53:25+00:00

What is the best state to buy a shelf corporation from?

Montana is recommended because the annual filing fee is only $20 and it provides excellent privacy. New Mexico LLCs are also ideal due to no annual fees and strong privacy protections.

What documents do I need to open a brokerage account for my business?Asset Profile2025-12-04T09:52:59+00:00

What documents do I need to open a brokerage account for my business?

The brokerage will typically request your EIN, your EIN application (Form SS-4), corporate documents, and personal identification.

Should my business also open a brokerage account?Asset Profile2025-12-04T09:52:38+00:00

Should my business also open a brokerage account?

A brokerage account can give you check-writing ability, receive wire transfers, and link funds to your business account. It also allows investment discussions with licensed advisors.

Do I need to foreign qualify my company in the state where I’m opening the account?Asset Profile2025-12-04T09:52:16+00:00

Do I need to foreign qualify my company in the state where I’m opening the account?

Sometimes. Some banks require your corporation or LLC to be registered in the state where the business operates. Not all banks enforce this.

What questions will the bank ask when opening the account?Asset Profile2025-12-04T09:51:54+00:00

What questions will the bank ask when opening the account?

They will ask about your business type, expected deposits, number of checks, projected balances, and whether you need additional services like debit cards, credit cards, or merchant processing.

Why does the bank need my Social Security Number?Asset Profile2025-12-04T09:51:28+00:00

Why does the bank need my Social Security Number?

Banks must verify the identity of the person signing on the account. Your SSN is for identity verification — not tax reporting for the business.

Do I need an EIN to open a business bank account?Asset Profile2025-12-04T09:51:02+00:00

Do I need an EIN to open a business bank account?

Yes. The EIN is required for all LLCs and corporations. You can obtain it online through the IRS in about 20 minutes.

How much money do I need to open a business bank account?Asset Profile2025-12-04T09:50:44+00:00

How much money do I need to open a business bank account?

Most banks require $100–$500 as an initial deposit. Brokerage accounts may require a higher deposit.

Do banks require me to update the officers listed on public record before opening the account?Asset Profile2025-12-04T09:50:24+00:00

Do banks require me to update the officers listed on public record before opening the account?

Some do. If your state does not list managers or officers, the bank may require a signed statement from the incorporator or updated articles to verify your role.

Can a shelf corporation or shelf LLC open a bank account?Asset Profile2025-12-04T09:50:01+00:00

Can a shelf corporation or shelf LLC open a bank account?

Yes — as long as the company has updated records, proper officer authorization, and the new owner can prove authority with appropriate documentation or incorporator statements.

Do I need a Certificate of Good Standing if my company is already formed?Asset Profile2025-12-04T09:49:39+00:00

Do I need a Certificate of Good Standing if my company is already formed?

Yes. Most banks require a Certificate of Good Standing dated within the last 60 days. If yours is older, you must request a new one from the Secretary of State.

What documents do I need to open a business bank account for an LLC or corporation?Asset Profile2025-12-04T09:48:50+00:00

What documents do I need to open a business bank account for an LLC or corporation?

You will need your Articles of Incorporation or Organization, a Certificate of Good Standing (issued within the last 60 days), your EIN, personal ID, and any bank-required authorization forms such as a corporate resolution.