How to open a bank account for your corporation or LLC

To proceed with opening a business bank account for your corporation or LLC, you’ll need to ensure you have or complete the following:


  • Copy of filed Articles of Incorporation for your corporation or Articles of Organization for your LLC.
  • Current Certificate of Good Standing issued within the last 60 days, demonstrating compliance with state filings.

Renewal of Certificate of Good Standing:

  • If the Certificate of Good Standing is older than 60 days, obtain a new one from the Secretary of State where the company is originally filed.

Bank Account Authorization:

  • Establish your authority with the bank to sign over the business bank account by providing Account Opening Documents.
  • Any public record indicating your role as a corporate officer in the company.
  • If not all manager or officer names are reported by your state, you might need a signed statement from the incorporator confirming your ownership.
  • In some cases, you may need to refile the articles of incorporation to update your name and business address in public records.
  • It’s advisable for the President, Vice President, or Treasurer of the shelf company to sign a corporate resolution authorizing the account and designating authorized signers.

Initial Deposit and Identification:

  • Make an initial deposit of $100 to $500 to open a business banking account (brokerage accounts may require a higher deposit).
  • Provide a form of photo identification, such as a driver’s license.
  • Furnish your company’s Employer Identification Number (EIN), obtained from the IRS before applying for the bank account. You can apply for the EIN online with the IRS within twenty minutes.
  • Your Social Security number is required by the bank to identify you as the account signer. Confirm both your company’s EIN and the signer’s SSN with the bank representative to avoid any confusion.
  • The bank will use the signer’s signature on the signature card to verify checks presented at the bank.

Foreign Qualification (if necessary):

  • Qualify your company as a foreign corporation or LLC in the state where you conduct business (not all banks may require this step).

Understanding Company Purpose:

  • The bank representative will inquire about your company’s purpose and future activities to comply with “Know Your Customer” Regulations.

These steps are crucial for a smooth process when opening an LLC or corporation bank account.

All of these items are necessary for your shelf company to open the bank account.

Bank Account For Corporation Or Llc-californiashelfcompany

The bank also takes measures to safeguard against potential fraud, so you should be prepared for inquiries like:

Business Details:

  • What is the primary nature of your company’s business?
  • What is the anticipated monthly deposit amount?
  • What is the maximum expected deposit at any given time?
  • How many monthly checks do you anticipate writing?
  • Do you require a debit or credit card for your business bank account?
  • What is the projected monthly account balance?

Additional Banking Services:

  • Are you interested in accepting business credit cards?
  • Do you currently have a personal business account with the bank? If not, would you consider opening one?
  • Are you considering opening a brokerage account?
  • Would you like to open a personal savings account alongside your business account?

These questions help the bank understand your business needs and tailor their services accordingly while also ensuring security and compliance with regulations.

Why should you open a brokerage account for your business?

This option allows you to:

  • Issue checks directly from the brokerage account.
  • Receive wire transfers.
  • Link the funds to your shelf company’s bank account.
  • Engage in discussions about investment choices with a licensed professional.

What is the procedure for opening a brokerage account for your business?

The process involves:

  • Filling out an application.
  • Scheduling an appointment at the bank.
  • Similar to opening a personal bank account.
  • Your brokerage may request a copy of the SS4 form/EIN Application.
  • This step ensures that the individual who applied for the EIN is the same person responsible for investment decisions. A mismatch may prevent you from opening the bank account.
Bank Account For Corporation Or Llc-californiashelfcompany

What States Should I Consider When Buying the  Shelf corporation?

Obtain a  Shelf corporation from a state that requires a low annual filing fee to maintain the company, respects your property rights, and doesn’t require disclosure of the owners of the company on public record. Montana corporations are ideal. The annual filing fee is $20 per year. The New Mexico LLC’s work great in California as well. There’s no annual fee for a NM LLC.