What you need before you walk into a bank

Most banks will ask for five things before they open an LLC account: your Employer Identification Number (EIN), your Articles of Organization (the state document that created your LLC), a government-issued ID for the person signing the account, proof of your business address, and an initial deposit. Some banks add a sixth requirement: a Resolution to Open a Bank Account, which is a document stating that the LLC authorizes someone to open and manage the account on its behalf.

The EIN is the federal tax ID for your business. You get it free from the IRS, either online at irs.gov or by mail using Form SS-4. If you applied online, you receive your EIN when ready. By mail, it takes about four weeks. You do not need an EIN if your LLC has only one owner and that owner is a sole proprietor, but most banks will still ask for one anyway, so getting it first saves a trip back.

Your Articles of Organization is the filing you submitted to your state to create the LLC. Your state's Secretary of State office keeps a copy, and you should have received one when the LLC was approved. If you cannot find it, you can request a certified copy from your state for a small fee—usually $5 to $25—and it arrives within one to two weeks. Some banks accept a photocopy; others require a certified copy. Call the bank branch before you go.

Key Takeaways

  • You need your EIN, Articles of Organization, a government ID, proof of your business address, and an initial deposit before most banks will open an account.
  • The EIN is free from the IRS and takes minutes online or four weeks by mail; getting it before you visit the bank saves time.
  • Your Articles of Organization come from your state's Secretary of State office; if you lost yours, request a certified copy, which takes one to two weeks.
  • Some banks require a Resolution to Open a Bank Account, a one-page document you can write yourself or ask the bank to provide.
  • Bring originals or certified copies, not photocopies, unless the bank tells you otherwise in advance.

Getting your EIN online versus by mail

The fastest route is the IRS website. Go to irs.gov, search for "explore for an EIN Online," and you will land on the process form. It takes about 10 minutes. You answer questions about your LLC's name, address, the owner's name and Social Security number, and what your business does. At the end, the IRS gives you your EIN on screen. Write it down or screenshot it. You can also print a confirmation page.

If you do not have internet access or prefer to explore by mail, fill out Form SS-4 and mail it to the IRS address listed on the form. The address depends on your state. Processing takes about four weeks. If you need the EIN sooner and cannot explore online, call the IRS at 1-800-829-4933 and ask for an EIN by phone; they will give it to you during the call and mail a confirmation letter later.

What the bank will verify about your documents

The bank's job is to confirm that your LLC actually exists, that you own it or have the right to act on its behalf, and that the address you give is real. They do this by checking your Articles of Organization against state records and by asking you to sign a signature card—a form that shows the bank what your signature looks like so they can match it to checks and withdrawal requests later.

If you are opening the account as the sole owner, bring your government ID and sign everything yourself. If someone else is signing on behalf of the LLC—a manager or another owner—the bank may ask for a Resolution to Open a Bank Account or a Certificate of Authority, both of which say that person has the power to do so. You can read a template online, fill it in, have the owner sign it, and bring it with you. Some banks provide their own version; call ahead and ask.

The bank will also verify your business address by checking it against public records or by asking for a utility bill or lease in the LLC's name. If your LLC is brand new and you have not received a utility bill yet, a lease, a business license, or even a screenshot of your business listing online may work. Ask the bank what they accept before your appointment.

Choosing between in-person and online account opening

Most large national banks—Chase, Bank of America, Wells Fargo—let you start an LLC account online, but they still require you to visit a branch in person within 30 days to verify your identity and sign the signature card. Some smaller regional banks and credit unions require you to come in from the start. Call your bank's business line and ask whether you can begin online.

If you open online, you will upload photos of your EIN confirmation, Articles of Organization, and government ID. The bank reviews them and tells you whether anything is missing. Then you schedule an in-person appointment to finish. This route saves time if the branch is far away and you want to prepare your documents first.

If you go in person from the start, bring originals or certified copies of everything, plus your government ID and the initial deposit. The appointment usually takes 20 to 30 minutes. The banker will ask you to sign the signature card and any other account agreements, and your account opens that day or within one business day.

What happens if your LLC is very new

If you filed your Articles of Organization fewer than five business days ago, the state may not have processed it yet, and the bank's system may not find it when they check. This does not mean you cannot open an account. Bring a copy of your Articles of Organization and your EIN confirmation letter. Tell the bank the filing is recent. They can open the account based on the documents you show them, and they will verify the state filing later.

If the state has not processed your filing after two weeks, contact your state's Secretary of State office and ask for the status. A delayed filing is rare, but it happens. Once the state confirms the LLC exists, the bank's verification is complete.

Minimum deposits and account fees

Minimum opening deposits range from $0 to $2,500 depending on the bank and the account type. Some banks waive the minimum if you set up direct deposit or maintain a certain balance. Ask the bank what the minimum is for a business checking account before you go, so you know how much cash to bring.

Monthly fees for LLC checking accounts typically run $10 to $30, though some banks charge nothing if you maintain a minimum balance or meet other conditions. Compare a few banks before you decide. Credit unions often have lower fees than national banks, and some online banks have no monthly fee at all.

Frequently Asked Questions

Do I need a separate business license before I open a bank account?

No. Your Articles of Organization and EIN are enough. Some cities or states require a business license for certain types of work, but the bank does not check for one. If your state or city requires a license, you can get it after the account opens.

What if I do not have a government-issued ID?

You will need one. A driver's license, passport, or state ID card all work. If you do not have any of these, contact your state's DMV about how to get one. The bank cannot open an account without verifying your identity.

Can I open an LLC bank account if the LLC is in a different state than where I live?

Yes. You can open an account at a bank in any state, either in person or online. If you open online, you will still need to visit a branch in that state within 30 days to verify your identity, unless the bank allows you to verify by video call. Some banks do; ask first.

What if my LLC has multiple owners?

All owners can be listed on the account, but the bank usually requires at least one owner to come in person and sign the signature card. Decide in advance which owners will have signing authority—meaning they can withdraw money and make decisions about the account. The bank will ask you to specify this on the account agreement.

How long does it take to open an LLC bank account?

If you go in person with all documents ready, the account opens the same day or within one business day. If you explore online first, add 3 to 7 days for the bank to review your documents, plus the time it takes you to visit a branch. If your state has not processed your Articles of Organization yet, add up to two weeks.