What a campaign bank account is and why you need one

A campaign bank account is a separate checking or money market account that holds only money raised for and spent on a political campaign. It is not your personal account. Federal law requires federal campaigns to use one. Most state and local campaigns are required to as well, depending on where you are running and what office you are seeking.

The account serves two purposes: it keeps campaign money separate from your personal finances, and it creates a paper trail that matches your campaign finance disclosures. When you report how much you raised and spent, the bank statements back up those numbers. Without a separate account, regulators and voters cannot tell the difference between your rent and your radio ads.

The rules vary sharply by jurisdiction. A federal campaign has different requirements than a city council race. Some states require the account before you raise a single dollar. Others allow you to operate without one until you hit a spending threshold. You need to know your own state and local rules before you open anything.

Key Takeaways

  • Federal campaigns must open a campaign bank account before raising or spending money, and the account must be in the campaign's name, not the candidate's personal name.
  • State and local campaigns have different rules about when an account is required; some demand one when ready, others only after you raise a threshold amount.
  • You will need an Employer Identification Number (EIN) from the IRS, which takes about 15 minutes to request online and is free.
  • The bank will ask for your campaign's registration documents, a list of officers, and proof of the EIN before opening the account.
  • Once the account is open, all campaign money in and out must flow through it; commingling personal and campaign funds is a violation in most jurisdictions.

Check your state and local campaign finance rules first

Before you call a bank, you need to know what your jurisdiction requires. The rules are not the same everywhere, and opening an account without understanding them can create problems later.

For a federal campaign (U.S. House, Senate, or President), the Federal Election Commission (FEC) requires a campaign bank account in the campaign committee's name before you raise or spend any money. You cannot use a personal account. The FEC website has a checklist for new federal candidates.

For state and local campaigns, contact your state's election office or your local clerk. They can tell you whether an account is required, when it must be opened, and what documents the bank will need to see. Some states require it before you raise anything. Others allow you to operate without one until you spend more than a certain amount—often $500 or $1,000. Some allow personal accounts for very small local races. Do not assume; ask.

You should also ask whether your campaign needs to register as a committee before opening the account. Many jurisdictions require you to register the campaign committee with the state or local election office before the bank will open an account in its name. The registration process is usually online and takes a few days.

Get an Employer Identification Number (EIN) from the IRS

Most banks will not open a campaign account without an Employer Identification Number, or EIN. This is a nine-digit number the IRS uses to identify businesses and organizations. Your campaign needs one even though it is not a business.

Getting an EIN is free and takes about 15 minutes. Go to the IRS website (irs.gov) and look for "explore for an EIN Online". You will answer questions about your campaign: its name, the state where it is based, the candidate's name, and the type of organization (political campaign). The IRS will issue the number when ready. You can print the confirmation page on the spot.

If you cannot explore online, you can explore by phone or mail, but online is fastest. Keep the confirmation page. You will need it when you walk into the bank.

Gather the documents the bank will ask for

Banks have different requirements, but most will ask for the same core set of documents. Call your bank ahead of time and ask what they need for a political campaign account. This saves a trip back home.

Expect to bring:

  • The campaign committee's registration documents from your state or local election office (proof that the committee exists and is registered).
  • The EIN confirmation page from the IRS.
  • A list of the campaign committee's officers—usually the candidate, a treasurer, and sometimes a chair. Include their names, titles, and addresses.
  • A government-issued ID for the person opening the account (usually the treasurer).
  • The campaign's mailing address.

Some banks may also ask for a copy of the candidate's personal ID or a board resolution authorizing the account. Ask when you call. If your campaign is a nonprofit or a political action committee (PAC) rather than a candidate committee, the bank may ask for additional documents. Be clear about what type of campaign you are running.

Open the account at a bank that handles campaign accounts

Not all banks are equally comfortable with campaign accounts. Some have experience with them and know the rules. Others treat them like any other business account and may freeze the account or ask questions later if something looks unusual.

Call ahead. Tell the bank you want to open a campaign account and ask whether they have done this before. If they have not, ask them to connect you with someone who handles nonprofit or organizational accounts—those people usually understand the structure better. If the bank seems uncertain or unwilling, try another bank.

When you open the account, be clear that it is a campaign account and that it will receive contributions and make campaign expenditures. The bank needs to know this upfront. Do not describe it as a personal account or a business account.

The account should be in the campaign committee's name, not the candidate's personal name. For example: "Smith for Congress 2024" or "Citizens for Jane Smith", not "Jane Smith". This is a legal requirement for federal campaigns and a best practice for state and local ones.

Set up the account for transparency and compliance

Once the account is open, you have a few more steps to make sure it stays compliant.

First, make sure the bank sends statements to the campaign treasurer, not to the candidate personally. The treasurer is responsible for tracking money in and out and for filing campaign finance reports. They need to see every transaction.

Second, set up the account so that two people must sign off on large withdrawals or transfers. This is called a dual signature requirement and is not legally required everywhere, but it is a strong practice. It prevents one person from moving campaign money without oversight.

Third, do not use the account for anything other than campaign activity. Do not pay personal bills from it. Do not deposit personal income into it. Do not use it to pay for things that are partly personal and partly campaign-related. Every dollar in and out must be campaign-related, and you must be able to document why.

Keep all receipts and invoices. When you file your campaign finance report, you will need to show where the money came from and where it went. Bank statements alone are not enough; you need the underlying documents.

Understand the rules for who can deposit money and how much

Campaign finance law limits who can give money to your campaign and how much they can give. These limits vary by jurisdiction and by the type of donor. The bank does not enforce these limits—you do. But you need to understand them before money starts flowing in.

For a federal campaign, individuals can give up to $3,300 per election (as of 2024; this amount changes every two years). Corporations, unions, and foreign nationals cannot give at all. The FEC website lists the current limits and who is prohibited.

For state and local campaigns, the limits are different in every state. Some have no limits. Some have limits as low as $100 per donor. Some prohibit corporate or union money. Some allow it. You must know your state's rules before you accept a donation. If you take money you should not have taken, you may have to return it, and you may face penalties.

When someone gives you money, ask them to put it in writing: their name, address, occupation, employer, and the amount. This is called a contribution form or donor card. Keep it with the deposit. When you file your report, you will need to show who gave you money.

Frequently Asked Questions

Can I use my personal bank account instead of opening a campaign account?

Federal law prohibits it for federal campaigns. For state and local campaigns, it depends on your jurisdiction and the size of your campaign. Some allow it for very small races; most require a separate account once you raise money. Check your local rules. Even if it is technically allowed, a separate account is much safer because it keeps your personal finances private and makes your campaign finance report easier to prepare.

What if I have not registered my campaign committee yet?

Most banks will not open an account without proof that the committee is registered. Register with your state or local election office first. This usually takes a few days and is done online. Once you have the registration confirmation, you can open the bank account.

Can I deposit personal money into the campaign account as a loan?

Yes, but it must be documented as a loan, not a contribution. You will need to write down the amount, the date, and the terms (whether you expect to be repaid, and if so, when). Keep this document with your campaign records. When you file your report, you will report it as a loan, not as a contribution. If you later forgive the loan, you may need to report that as a contribution, depending on your jurisdiction.

What happens if I accidentally deposit non-campaign money into the account?

Withdraw it when ready and document why it was deposited. Keep a record of the withdrawal. If you discover the mistake during your audit or report filing, disclose it. Regulators are more forgiving of honest mistakes that you correct than of money that sits in the account unexplained.

Do I need a separate account for each election, or can I use the same account for a primary and general election?

For federal campaigns, you use the same account for both. For state and local campaigns, it depends on your jurisdiction. Ask your election office. Some treat a primary and general as one election cycle; others treat them separately. The rules affect how you report money and how you spend it, so get this right before you start.