To open a business bank account, you need three categories of paperwork: government-issued photo identification for every person who will sign on the account, a tax identification number for the business, and state-filed formation documents proving the entity legally exists. Most banks also require a banking resolution naming who is authorized to act for the business and a beneficial ownership certification identifying the real people behind the entity. The exact documents needed to open a business bank account depend on whether you operate as a sole proprietor, partnership, LLC, corporation, or nonprofit.
Personal Identification for Every Signer
Federal rules require the bank to collect four pieces of information from each person who will have signing authority: full legal name, date of birth, a street address, and a Social Security number or other taxpayer identification number.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks
To verify that information, bring an unexpired government-issued photo ID such as a driver’s license or passport. Many banks ask for a second form of identification like a credit card or voter registration card. Expired documents get rejected outright, so check dates before you go.
The address on your ID can be residential or a business street address; the regulation accepts either for individuals.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks P.O. boxes generally are not accepted.
Tax Identification Number for the Business
Nearly every business entity needs an Employer Identification Number from the IRS. You can apply online through the IRS website, and once approved the agency issues the EIN immediately with a confirmation letter you can print on the spot.2Internal Revenue Service. Get an Employer Identification Number That confirmation letter is what banks want to see. Save it, because the online application cannot be revisited after you close the session.
Lost the letter? Call the IRS Business and Specialty Tax Line at 800-829-4933 and request Letter 147C, which serves as official verification of your assigned number.3Internal Revenue Service. Employer Identification Number An IRS entity transcript works too.
Sole proprietors without employees can use a personal Social Security number as the business tax ID.4Office of the Law Revision Counsel. 26 USC 6109 – Identifying Numbers Applying for an EIN is free, though, and keeps your SSN off banking paperwork. Whichever number you use, the business name attached to it must match your formation documents exactly. A mismatch is one of the most common reasons account openings get held up.
Formation Documents by Entity Type
Banks verify the business exists by reviewing the documents you filed with the state. What you bring depends on how the business is organized.
Corporations and LLCs
Corporations bring certified Articles of Incorporation. LLCs bring Articles of Organization. Both must carry the filing stamp or seal from the Secretary of State where the entity was formed. The federal rule specifically identifies certified articles of incorporation and similar formation records as acceptable verification for entity customers.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks
Bring your internal governance documents as well. Corporations need bylaws; LLCs need an operating agreement. These identify which officers or members are authorized to open accounts, sign checks, and bind the business financially. If your bylaws name the treasurer as the sole banking contact, the CEO cannot open the account alone.
Partnerships
General and limited partnerships bring a partnership agreement showing all partner names and the business name. Every general partner typically has to sign the account application. If the partnership registered with the state, bring that filing. Limited partnerships formed by filing a certificate of limited partnership should bring a certified copy.
Sole Proprietors
Sole proprietors have the lightest load because no state formation filing exists. You are the business. Bring your government photo ID, your SSN or EIN, and, if you operate under a name other than your own, a DBA or fictitious name certificate.
Nonprofits
Tax-exempt organizations bring certified articles of incorporation, bylaws, the EIN confirmation letter, and a board resolution authorizing a specific person to open the account. If the IRS has already issued a determination letter recognizing tax-exempt status, bring that too. Some banks ask for it; others do not, but having it on hand speeds up review either way.
Banking Resolution
A banking resolution is a formal document your board of directors or managing members signs to authorize specific people to handle the company’s bank accounts. Banks use it to confirm the person at the counter has permission to open the account, sign checks, and initiate wire transfers. Without one, the bank has no independent way to verify authority beyond what the formation documents show.
The resolution should identify the business by full legal name and tax ID, list the names, titles, and signatures of every authorized person, describe the scope of authority, and reference the date of the board meeting where it was approved. Some banks hand you their own pre-printed form. If not, draft one covering those elements and have it signed by the corporate secretary or an equivalent officer. Many banks treat resolutions as valid for roughly 180 days, so a stale resolution can force you to redo it if the account opening drags on.
Beneficial Ownership Certification
Banks are separately required to identify the real people who own or control every business entity that opens an account.5eCFR. 31 CFR 1010.230 – Beneficial Ownership Requirements for Legal Entity Customers Two categories of people must be disclosed:
- Any individual who owns 25 percent or more of the equity interests, directly or indirectly.
- At least one individual with significant day-to-day control over the entity, such as the CEO, CFO, president, or managing member.5eCFR. 31 CFR 1010.230 – Beneficial Ownership Requirements for Legal Entity Customers
For each person, the bank collects full legal name, date of birth, residential address, and a Social Security number (or passport number for non-U.S. persons). You will sign a certification attesting that the information is accurate.6Financial Crimes Enforcement Network. Certification of Beneficial Owners
If ownership runs through a trust, bring the trust agreement. Depending on structure, the beneficial owner could be the trustee, a beneficiary with the right to withdraw assets, or a grantor who can revoke the trust.7Financial Crimes Enforcement Network. Beneficial Ownership Information Frequently Asked Questions A phone call to the banker in advance is worth the time.
Certain entities are exempt from this bank-level disclosure, including publicly traded companies, banks and other federally regulated financial institutions, registered investment companies, state-regulated insurance companies, and public accounting firms registered under the Sarbanes-Oxley Act.5eCFR. 31 CFR 1010.230 – Beneficial Ownership Requirements for Legal Entity Customers
Trade Name, Address, and Good Standing Proof
If your business operates under a name different from the one on your formation documents, bring a DBA certificate (also called a fictitious name certificate or trade name registration). This links the public-facing name to the legal entity so the bank can process checks made out to either. DBA filing fees range from roughly $10 to $150 depending on jurisdiction.
Banks also want proof the business has a physical location and is operating. A recent utility bill or commercial lease showing the business name and address usually works. A local business license is often accepted as an alternative.
A Certificate of Good Standing from your state’s filing office comes up often as well. It confirms the entity is current on state tax obligations and annual filings. Not every bank requires it, but having one prevents delays if the compliance team asks. These certificates are inexpensive and can typically be ordered online from the Secretary of State.
If the Owner or Signer Is Not a U.S. Person
Foreign nationals who own or control a U.S. business face additional documentation steps. A foreign passport works as primary identification, and the bank may ask for a secondary ID such as a foreign driver’s license or a major credit card. A U.S. street address is still required — a business office or residential address in the United States, not a P.O. box or a foreign address.
For a tax ID, non-U.S. individuals without a Social Security number can use an Individual Taxpayer Identification Number issued by the IRS. Applying requires Form W-7 along with a federal tax return and proof of foreign status.8Internal Revenue Service. How to Apply for an ITIN Processing takes about seven weeks outside of tax season and up to eleven weeks during peak filing. Some banks accept a Foreign Tax Identification Number from the applicant’s home country in place of an ITIN, which avoids the wait.
What Slows Down or Stops the Application
Once you deliver the package, the bank’s compliance team reviews it. Some banks with digital onboarding open the account the same day. Others take a week or more, especially for new entities, layered ownership, or industries the bank treats as higher risk. Reviewers verify signatures, confirm entity status with state records, and screen the business and its beneficial owners against federal sanctions and watchlists.
Denials happen more often than people expect, and the cause is usually mundane. Incomplete paperwork, a name on the EIN letter that does not match the articles of incorporation, or an expired driver’s license will stop the process. Beyond clerical issues, banks weigh the applicants’ personal credit, the industry, and whether the ownership structure is clear enough to verify. Businesses in cannabis, cryptocurrency, money transmission, and international trade face heightened scrutiny and may need additional compliance documentation or a bank that specializes in those sectors.
If your application is declined, ask for the specific reason. A documentation gap is fixable in an afternoon. An industry mismatch means finding a different bank rather than gathering different paperwork. Credit issues flagged during review usually trace back to the personal credit of the account signers, so pulling your own credit report before you apply lets you address problems on your terms.