The core documents every bank will ask for
Most banks need five things before they will open a business account: proof of your business structure, proof of your identity, proof of your address, your Employer Identification Number (EIN), and ownership information. The exact list varies by bank and by what type of business you run, but these five categories cover what nearly every institution requires.
The reason banks ask for this much is not bureaucracy—it is federal law. The Bank Secrecy Act requires banks to verify who owns a business and confirm that the business is real before accepting deposits. This protects the bank from money laundering and protects you from someone else opening an account in your business's name.
Key Takeaways
- You will need your Social Security Number or EIN, a government-issued ID, and proof of your current address before any bank will open an account.
- Your business structure document—articles of incorporation, LLC formation papers, or sole proprietorship registration—proves the business legally exists.
- Banks verify ownership by requesting the names and Social Security Numbers of all owners, partners, or members who hold more than 20 percent of the business.
- Some banks require documents in person; others accept scans or photos uploaded through their website, so call ahead to learn what your bank accepts.
- The entire process usually takes one to three business days after you submit all documents, though some banks complete it the same day.
Proof of business structure and registration
The bank needs to see that your business is legally registered. What document proves this depends on what type of business you run.
If you formed an LLC or corporation, bring your articles of incorporation or articles of organization. These are the documents you filed with your state's Secretary of State office when you created the business. If you do not have a copy, you can request one from the Secretary of State's office in the state where you registered—most states provide this online for a small fee, usually under $25.
If you are a sole proprietor or partnership, the bank may ask for a business license or DBA certificate (Doing Business As). A DBA is filed with your county or state and shows that you are operating under a business name. If you operate under your own name and have not filed a DBA, some banks will still open an account, but you may need to bring a tax return or other proof that the business is active.
If your business is very new and you have not yet received your formation documents from the state, call the bank first. Some will hold an account open for a few days while you obtain the paperwork; others will not. Knowing this before you visit saves a trip.
Personal identification and ownership documentation
The bank will ask for a government-issued photo ID from the person opening the account—a driver's license, passport, or state ID card. This confirms that you are who you say you are.
You will also need to provide the names, dates of birth, and Social Security Numbers of all owners. If the business is a sole proprietorship, that is just you. If it is an LLC or corporation with multiple owners, the bank needs information on everyone who owns more than 20 percent of the business. This is a federal requirement, not a bank choice.
Some banks ask you to fill out a form listing owners; others ask you to bring a copy of your operating agreement or corporate bylaws, which already list who owns what. Ask your bank which they prefer before you arrive. If you do not have these documents yet, you can create a straightforward ownership statement on your own letterhead listing each owner's name, ownership percentage, and Social Security Number.
Proof of address and tax identification
Banks verify your address using a recent utility bill, lease, mortgage statement, or government mail—something dated within the last 60 to 90 days with your name and address on it. A cell phone bill, credit card statement, or bank statement usually works. An apartment lease or property tax bill works too.
You will also need your Employer Identification Number (EIN), which is a nine-digit number the IRS assigns to your business. If you have not obtained an EIN yet, you can explore for one free through the IRS website (irs.gov) or by phone. The IRS issues EINs when ready online or within a few days by mail. Many banks will open an account using your Social Security Number temporarily if your EIN has not arrived yet, but confirm this with your bank first—policies vary.
If you are a sole proprietor operating under your own name with no employees, some banks will let you use your Social Security Number instead of an EIN. Others require an EIN regardless. Call ahead to know what your bank requires.
What to bring if you are opening the account in person
If you are visiting a branch, bring originals of everything: your government ID, your business formation documents, your proof of address, and a written list of all owners with their Social Security Numbers. Bring two forms of ID if possible—many banks ask for this as a standard practice.
Bring your EIN letter from the IRS if you have it, or bring the confirmation email if you applied online. If you do not have either yet, bring a note with your EIN and tell the bank representative that you are still waiting for official documentation.
Some banks photograph or scan documents on the spot. Others ask you to leave copies. Ask whether the bank needs originals or copies before you go—some will not accept copies of your business formation documents, while others prefer them.
Opening an account online or by mail
Many banks now let you open an account without visiting a branch. The process usually involves uploading photos or scans of your documents through the bank's website or mobile app.
When uploading, make sure the document is clear and readable—the bank's system may reject blurry images automatically. Photograph both sides of your ID. For multi-page documents like articles of incorporation, upload each page separately. The bank will tell you which file formats it accepts (usually PDF, JPG, or PNG).
Some banks require you to verify your identity by video call with a representative, especially if you are opening the account remotely. This usually takes 5 to 10 minutes and happens the same day you submit documents. Others verify through a code they send to your phone or email.
If you open the account online, the bank may still ask you to sign documents in person or electronically. Read the confirmation email carefully—it will tell you what happens next and what you need to do.
Documents you may need but do not always
Some banks ask for additional documents depending on your situation. If your business is brand new and you have no tax returns yet, the bank may ask for a business plan or a letter from a client showing that you have work lined up. This is less common than it used to be, but it happens.
If you are opening the account as a representative of the business but not an owner—for example, you are a manager hired to handle finances—the bank will ask for a resolution or letter from the owners authorizing you to open the account. This protects the bank from fraud.
If you have a criminal record or a history of fraud, some banks may ask for additional information or decline to open an account. This is at the bank's discretion. If one bank declines, try another—policies differ widely.
Frequently Asked Questions
Can I open a business account with just my Social Security Number, or do I need an EIN?
It depends on your bank and your business structure. Sole proprietors operating under their own name can sometimes use a Social Security Number. LLCs and corporations almost always need an EIN. Call your bank and ask—if you do not have an EIN yet, the bank can tell you whether it will hold an account open while you wait for one to arrive.
What if I do not have my articles of incorporation yet?
Contact your state's Secretary of State office and request a certified copy. Most states provide this online within a few days for under $25. If you need the account open when ready, call the bank first—some will open a temporary account while you wait for the official document, but this is not may provide.
Do I need to bring all owners to open the account?
No. Usually one owner or an authorized representative can open the account. The bank needs the names and Social Security Numbers of all owners who hold more than 20 percent, but they do not need to be present. Bring a letter from the other owners authorizing you to open the account if the bank asks for it.
How long does it take to open an account after I submit my documents?
Most banks complete the process within one to three business days. Some complete it the same day if you open in person and all documents are in order. Online accounts sometimes take longer because the bank may need to verify your identity by video or phone. The bank will email you when the account is ready to use.
What if the bank rejects one of my documents?
The bank will tell you which document did not meet its standards and why. Common reasons are that the document is expired, too old, or not clear enough to read. Ask the bank what it needs instead—for example, if your proof of address is too old, a more recent utility bill will work. Most banks give you a chance to resubmit.