What You Need to Open a Business Bank Account

The documents you'll need before you walk in

Most banks will ask for the same core set of documents when you open a business account. The exact list varies slightly by bank and by the structure of your business, but you can expect to bring proof of who you are, proof of what your business is, and proof that you're authorized to open the account on behalf of the business.

For a sole proprietorship — a business you own by yourself with no formal structure — you typically need a government-issued photo ID, your Social Security number, and proof of your business name if you're using one other than your legal name. Proof of business name can be as straightforward as a business license, a "doing business as" (DBA) certificate filed with your county, or even a business registration document from your state.

If your business is structured as an LLC, partnership, or corporation, the bank will ask for your business formation documents — the articles of organization, partnership agreement, or articles of incorporation filed with your state. You'll also need an Employer Identification Number (EIN), which you get free from the IRS. The person opening the account will still need a personal photo ID and Social Security number.

Key Takeaways

You need a government-issued photo ID and your Social Security number or EIN, plus documents proving your business exists and your authority to open the account.
Sole proprietors can often use just a business license or DBA certificate; LLCs and corporations need their formation documents filed with the state.
An Employer Identification Number (EIN) is free from the IRS and required for most business structures other than sole proprietorships.
Banks may ask for proof of your business address, which can be your home address, a commercial lease, or a virtual office agreement.
Some banks require a minimum opening deposit, which ranges from zero to several hundred dollars depending on the bank and account type.

Proof of your business address

Banks need to know where your business operates. If you work from home, your home address is fine — bring a recent utility bill, lease, or mortgage statement showing your name and address. If you rent commercial space, bring a copy of your lease. If you use a virtual office or mailbox service, bring the agreement showing the address and your name.

The document doesn't have to be brand new, but it should be recent enough that the address is clearly current. A utility bill from three months ago works; one from two years ago may not.

Your Social Security number or EIN

The bank uses this number to run a background check and report your account activity to the IRS. If you're a sole proprietor, you'll use your personal Social Security number. If your business is an LLC, partnership, or corporation, you need an Employer Identification Number (EIN).

You can get an EIN free from the IRS at irs.gov. You can explore online and receive your number when ready, or by mail if you prefer. You don't need to have hired employees to get an EIN — many sole proprietors get one too, though it's not required. Once you have it, bring it to the bank along with your Social Security number.

Your business formation documents

If your business is a sole proprietorship, you may not have formal formation documents at all — that's fine. If you filed a DBA or business license with your county or state, bring a copy. If your business is an LLC, corporation, or partnership, bring the document you filed with your state's Secretary of State office. This is usually called the Articles of Organization (for an LLC), Articles of Incorporation (for a corporation), or a Partnership Agreement.

The bank wants to see this document to confirm that the business legally exists and to understand who has authority to make decisions about the account. If you're opening the account as the owner or manager, the bank will note that in their records.

A minimum opening deposit

Some banks require you to deposit money when you open the account; others do not. The amount varies widely — some banks have no minimum, while others ask for $25, $100, or more. A few banks offer business accounts with no opening deposit and no monthly fee, while others charge a monthly maintenance fee unless you keep a certain balance or set up direct deposit.

Before you visit the bank, call or check their website to find out what they require. This saves you a trip if you're not ready to deposit money yet, and it helps you choose between banks based on their actual costs.

What the bank will verify in person

When you arrive at the bank, a representative will check your photo ID to confirm you are who you say you are. They'll review your business documents to confirm the business exists and that you have authority to open the account. They may ask questions about what your business does, how long it's been operating, and what you expect the account to be used for.

This is a normal part of the process — banks are required by federal law to know their customers and to watch for suspicious activity. Answer honestly. If your business is brand new, say so. If you're not sure how much you'll deposit each month, say that too. The bank is not trying to trick you; they're trying to understand your business so they can set up the right account for you.

Documents you may need but probably won't

Some banks ask for a business plan, proof of business insurance, or a lease agreement. Most do not. If you're opening an account at a large national bank, they typically ask only for the documents listed above. If you're opening at a smaller community bank or credit union, they may ask for more information about your business — this is normal and not a sign that something is wrong.

If a bank asks for something you don't have, ask whether it's required or optional. If it's required and you can't provide it, you can try a different bank. If it's optional, you can usually open the account without it.

Frequently Asked Questions

Can I open a business account online without going to the bank in person?

Some banks allow you to open a business account entirely online, while others require at least one in-person visit. Call the bank or check their website to find out. If you open online, you'll upload photos of your documents instead of showing originals, and you may need to verify your identity through a video call.

What if I don't have an EIN yet?

You can get one free from the IRS at irs.gov in a few minutes if you explore online. Some banks will let you open an account with just your Social Security number and file the EIN later, but most ask you to have it ready. It's faster to get the EIN first.

Do I need a business license to open a business bank account?

Not always. A sole proprietor can open an account with just a Social Security number and proof of business name. An LLC or corporation needs its formation documents, not necessarily a separate business license. However, many states and cities require a business license to operate legally, so check your local requirements.

What if my business address is my home?

That's fine. Bring a utility bill, lease, or mortgage statement showing your home address and your name. The bank doesn't care whether you work from home or a commercial space — they just need to know where the business is located.

Can someone else open the account for me?

Usually not. The person opening the account must be present with a photo ID and must have authority to open it — typically the owner or a manager. Some banks allow a power of attorney to open an account on your behalf, but this is less common. Call the bank first to ask.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.