How to Open a Bank Account for Your LLC

What you need before you walk into a bank

An LLC bank account requires the same basic documents as a personal account, plus proof that your LLC actually exists. Most banks will ask for your Employer Identification Number (EIN) — a nine-digit ID the IRS issues to your business — and a copy of your Articles of Organization, which is the state filing that created your LLC. Some banks also want to see your Operating Agreement, though not all will require it.

You will need a government-issued ID for whoever is opening the account. If you are the sole owner, bring your driver's license or passport. If multiple owners are involved, the bank may require all of them to be present, or they may allow one person to open it with written authorization from the others — this varies by bank and by state.

Bring your EIN letter from the IRS. If you do not have one yet, you can get it the same day by calling the IRS at 1-800-829-4933 and requesting one over the phone, or you can explore online at irs.gov before you go to the bank. The online process takes about 15 minutes and you receive your EIN when ready.

Key Takeaways

You will need your EIN, a copy of your Articles of Organization, and a government ID for the person opening the account.
The IRS can issue your EIN the same day you call, so lack of an EIN should not delay you.
Some banks require all LLC owners to be present; others allow one owner to open the account with written consent from the rest.
Bring originals or certified copies of your Articles of Organization — banks rarely accept photocopies.
Account setup usually takes 15 to 30 minutes in person, though the account may not be fully active for one to two business days.

Getting your EIN if you do not have one yet

You do not need to wait for mail. Call the IRS Business and Specialty Tax Line at 1-800-829-4933 during business hours (Monday through Friday, 7 a.m. to 7 p.m. your local time). Have your Social Security Number and the date you formed your LLC ready. The agent will ask you basic questions about your business — what it does, where it is located, how many owners it has — and will issue your EIN on the spot.

Write down the EIN when ready and ask the agent to mail you a confirmation letter. That letter is what most banks want to see. If you are in a hurry, some banks will accept the EIN number alone if you can show them the IRS call record on your phone, though this is less common. The mailed confirmation usually arrives within two weeks.

If you prefer not to call, you can explore online at irs.gov/ein. The online process is faster — you fill it out and receive your EIN within 15 minutes. You will not receive a mailed confirmation when ready, but you can print the confirmation page from the website and bring that to the bank.

Which documents the bank will actually inspect

Banks treat the Articles of Organization as proof that your LLC is real and that you have the right to open an account in its name. Bring the original or a certified copy from your state's Secretary of State office. A photocopy is usually not enough. If you do not have a certified copy, you can order one from your state's website — most states charge $5 to $15 and mail it within one to two weeks, though some offer same-day pickup.

The Operating Agreement is less critical. It is the internal document that describes how your LLC is run — who makes decisions, how profits are split, what happens if an owner leaves. Some banks ask for it to confirm who has authority to sign checks and withdraw money. If you have one, bring it. If you do not, most banks will not turn you away, though they may ask you to sign a statement saying the LLC has no Operating Agreement or that you are authorized to open the account on behalf of all owners.

Your EIN letter from the IRS serves as proof that the IRS recognizes your LLC as a business entity. If you obtained your EIN by phone, the mailed confirmation is ideal, but the number itself is usually enough if you can show the bank your call record or a screenshot of the IRS website confirmation.

What happens during the account opening visit

Bring all documents to your bank in person. Some banks allow you to start the process online, but most require at least one in-person visit to verify your identity and the LLC's documents. The banker will review your Articles of Organization, check your ID, and ask you how you plan to use the account — whether you will be depositing checks, making transfers, paying bills online, or all three.

You will choose an account type. Most LLCs open a business checking account, which is designed for frequent transactions and usually comes with a debit card and online banking. Some banks also offer a business savings account if you want to keep a reserve separate from your operating funds. Checking accounts typically have monthly fees ranging from $0 to $25, depending on the bank and whether you meet a minimum balance. Ask about fee waivers — many banks waive fees if you maintain a certain balance or set up direct deposit.

The banker will ask whether you want the account in your name alone or in the names of multiple owners. If multiple owners will have access, you will need to decide who can sign checks and withdraw money. Some banks require all owners to sign the signature card; others allow you to designate certain people as authorized signers. This decision affects who can move money out of the account, so discuss it with your co-owners before you go in.

Timeline and what to expect after you leave

The account is usually open the same day, but it may not be fully active for one to two business days. You will receive a debit card, checks, and online banking login information either in person or by mail within one to two weeks. Some banks offer expedited card delivery for an extra fee.

Your first deposit may be held for a few days while the bank verifies the account. This is normal and does not mean anything is wrong. After that, deposits usually clear within one business day for checks and when ready for transfers from other accounts at the same bank.

If you opened the account online or with only one owner present, the bank may contact you by phone or email to confirm details before fully activating the account. This is a fraud prevention step and usually takes less than 24 hours.

Common reasons banks reject LLC account applications

The most common reason is missing or incorrect documentation. If your Articles of Organization show a different business name than the one you are trying to use, or if the name on your ID does not match the name on the Articles, the bank will ask you to clarify or bring additional documents. Bring everything you have — the original filing, any amendments, and a letter from your state's Secretary of State if there is any confusion about your LLC's legal name.

Some banks will not open accounts for certain types of businesses — cannabis-related businesses, for example, face restrictions at many banks because of federal law. If your business falls into a restricted category, you may need to call ahead and ask whether the bank will work with you before you make the trip.

A few banks require a minimum opening deposit, usually $100 to $500. Ask about this when you call to confirm what documents to bring. If the bank requires a minimum deposit and you do not have it on hand, you can deposit a check from a personal account or bring cash.

Frequently Asked Questions

Do I need an EIN if I am the only owner of my LLC?

Yes. Even single-owner LLCs need an EIN to open a business bank account. The EIN is how the IRS and the bank identify your business as separate from you personally. You can get one for free by calling the IRS or explore online.

Can I open an LLC bank account online without going to the bank in person?

Some banks allow you to start the process online, but most require at least one visit to verify your identity and your LLC's documents in person. A few online banks may accept digital copies of your documents, but this is rare. Call your bank first to ask what they require.

What if I do not have my Articles of Organization yet?

You cannot open a bank account until your LLC is officially formed. File your Articles of Organization with your state's Secretary of State first. Most states process filings within one to five business days. Once you receive confirmation that your LLC is formed, you can get your EIN and open your account.

Do all owners have to be present when I open the account?

It depends on the bank. Some require all owners to sign in person. Others allow one owner to open the account if they bring a written authorization from the other owners. Call your bank ahead of time to ask what they require for multi-owner LLCs.

Can I use my personal bank account for my LLC instead of opening a business account?

You can, but it is not recommended. Using a personal account for business blurs the line between your personal and business finances, which can create problems if you are ever audited or sued. A separate business account keeps records clear and protects your personal assets in case of a lawsuit against the LLC.

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.