Yes, but the bank will ask for more paperwork and proof of legitimacy

A foreign entity — a company, nonprofit, or other organization based outside the United States — can open a U.S. bank account. Banks do allow it. What changes is the documentation they require and how long the process takes. You will need to prove who you are, what your organization does, and why you need a U.S. account. Banks treat foreign entities with extra caution because of federal rules about money laundering and terrorist financing, so they ask more questions than they do for U.S. residents.

The type of account you can open depends on what your organization is. A foreign corporation might open a business checking account. A foreign nonprofit might open a nonprofit account. A foreign individual who is not a U.S. resident can sometimes open a personal account, though many banks now decline. The specific rules vary by bank, so calling ahead to ask whether they accept your type of entity saves time.

Key Takeaways

  • Foreign entities can open U.S. bank accounts, but most banks require an Individual Taxpayer Identification Number (ITIN) or Employer Identification Number (EIN) issued by the IRS before they will proceed.
  • You will need to provide a passport or national ID, proof of your organization's existence (such as articles of incorporation or a business registration certificate from your home country), and documentation of your U.S. business purpose.
  • Some banks specialize in serving foreign entities and have faster processes; others decline foreign customers entirely, so contacting the bank before gathering documents prevents wasted effort.
  • The account opening process typically takes two to four weeks once you submit all required documents, longer than it does for U.S. residents.
  • You may need a U.S. address for mailing statements and tax documents, even if your organization operates entirely outside the United States.

What the IRS identification number is and why you need it

The Employer Identification Number (EIN) is a nine-digit number the IRS issues to businesses, nonprofits, and other organizations. A foreign entity that wants to do business in the United States or hold a U.S. bank account almost always needs one. You request an EIN from the IRS on Form SS-4, which you can file online, by mail, or by phone. The IRS issues the number the same day if you explore by phone, or within a few days if you file online.

If you are a foreign individual (not an organization) opening a personal account, you may need an Individual Taxpayer Identification Number (ITIN) instead. An ITIN is a nine-digit number the IRS issues to non-U.S. residents who have U.S. tax obligations. You request an ITIN on Form W-7, which you must mail to the IRS along with proof of identity and residency in your home country. Processing takes several weeks.

Some banks will not open an account without one of these numbers already in hand. Others will open the account conditionally and require you to provide the number within a set timeframe. Ask the bank which approach they use before you start the process.

Documents you will need to bring or send

Banks ask for different documents depending on whether you are opening a business account, nonprofit account, or personal account. For a business account as a foreign entity, expect to provide:

  • Your passport or national ID card (a color copy, certified by your country's embassy or a notary public, is usually required).
  • Proof that your organization exists in your home country — typically a business registration certificate, articles of incorporation, or a government-issued business license, translated into English by a certified translator if it is in another language.
  • Your EIN letter from the IRS (or proof that you have applied for one).
  • A letter explaining why your organization needs a U.S. bank account — for example, to pay U.S. vendors, receive payments from U.S. clients, or manage a U.S. subsidiary.
  • Proof of your U.S. business address, which can be a lease, a utility bill, or a letter from a registered agent if you use one.
  • The names and identification of the people authorized to sign checks or make withdrawals (the bank may ask for their passports or IDs as well).

For a nonprofit account, the bank will also ask for your nonprofit registration or charter from your home country, and proof of your nonprofit status (such as a tax exemption letter if your country issues one). For a personal account, the requirements are simpler but vary widely by bank — some ask only for a passport and proof of address, while others ask for more.

Documents issued outside the United States often need to be certified or notarized. A certified copy means an official of your government (usually at an embassy or consulate in the United States) has verified that the copy matches the original. A notarized copy means a notary public — a person authorized by a U.S. state to witness signatures and verify documents — has done the same. Both cost money and take time. Ask the bank which they accept before you pay for certification.

Which banks accept foreign entities and how to find them

Large national banks vary in their willingness to open accounts for foreign entities. Some, like JPMorgan Chase and Bank of America, do accept them but have strict documentation requirements and may take longer to approve. Others have closed their doors to foreign customers entirely. Regional banks and banks that specialize in serving international clients are often faster and more straightforward.

Banks that focus on serving foreign entities and immigrants include Wise (formerly TransferWise), which offers accounts to foreign businesses and individuals; Novo, which serves foreign entrepreneurs; and some community banks in areas with large immigrant populations. These banks often have online processes designed for people without a U.S. Social Security number, and they understand the documentation challenges.

Before you gather documents, call or email the bank and describe your situation: you are a foreign entity, you have (or will get) an EIN, and you want to open a business account. Ask whether they accept foreign entities, what documents they require, and how long the process takes. This conversation takes 15 minutes and saves you from preparing documents a bank will not accept.

The account opening process and timeline

Once you have chosen a bank and gathered your documents, the process usually unfolds like this: you submit an process (online, by mail, or in person) along with copies of your documents. The bank's compliance team reviews them to make sure you are not on any government watchlist and that your stated business purpose is legitimate. This review takes one to three weeks.

If the bank needs clarification — for example, if a document is unclear or a signature does not match — they will contact you by email or phone. You provide the missing information or a corrected document. This back-and-forth can add another week or two.

Once the bank approves your process, they send you account details and instructions for making your first deposit. Some banks require a minimum deposit (often $100 to $500) before the account is active. The entire process, from process to a working account, typically takes two to four weeks. Plan accordingly if you need the account by a specific date.

What happens after you open the account

Once your account is open, the bank will send statements and tax documents to the U.S. address you provided. If your organization earned interest or received payments that trigger tax reporting, the bank will send you a Form 1099 or similar document. You are responsible for reporting this income to the IRS, even though your organization is based outside the United States.

The bank may also ask you to update your information periodically — for example, if the people authorized to sign checks change, or if your business address changes. Some banks require annual certification that the information on file is still correct. Staying on top of these requests prevents your account from being frozen or closed.

If you plan to receive regular wire transfers or large deposits, tell the bank when you open the account. Banks are required to ask questions about the source of large or unusual deposits to prevent money laundering. Explaining upfront — "we receive monthly payments from our U.S. clients" — makes the process smoother than having the bank freeze a deposit and ask questions later.

Alternatives if a bank declines you

If you contact several banks and none will open an account for you, you have other options. Some foreign entities use a U.S. registered agent — a company that provides a U.S. business address and can receive mail and documents on your behalf. A registered agent does not open a bank account for you, but having a U.S. address sometimes makes banks more willing to work with you.

Another option is to open an account in your home country with a bank that has a U.S. branch or subsidiary, then ask about opening a linked U.S. account. Some international banks make this easier than starting from scratch with a U.S. bank that has never heard of you.

If you have a U.S. subsidiary or a U.S. employee, that person or entity can sometimes open a U.S. account more easily than the foreign parent organization can. The subsidiary account is separate from your foreign organization's account, but it can serve the same purpose if you need to hold U.S. dollars or pay U.S. expenses.

Frequently Asked Questions

Do I need a Social Security number to open a U.S. bank account as a foreign entity?

No. Foreign entities use an EIN or ITIN instead. A Social Security number is issued only to U.S. citizens and certain authorized residents. The IRS issues EINs and ITINs to foreign entities and individuals who need them for U.S. tax purposes.

Can I open a U.S. bank account without visiting the United States in person?

Yes. Most banks now accept applications by mail or online. You submit copies of your documents (certified or notarized if required) and communicate with the bank by email or phone. Some banks may ask you to verify your identity by video call, but in-person visits are rare.

How much money do I need to deposit to open an account?

Minimum deposits vary by bank and account type. Some banks have no minimum; others require $100 to $500 to set up the account. Ask the bank about their minimum when you contact them.

What if my home country's documents are in a language other than English?

You will need to have them translated into English by a certified translator. A certified translator is someone authorized by a court or professional organization to translate documents and certify that the translation is accurate. The bank will not accept an informal translation from a friend or family member.

Can I use a U.S. address that is not my actual business location?

You can use a registered agent's address or a mail forwarding service address, but the bank will ask what the address is for. Be honest — tell them it is a registered agent address or a mail service. Banks are suspicious of addresses that do not match the stated business purpose, so explaining upfront prevents problems later.