What banks ask for when you open a business account
Most banks want the same core set of documents before they will open a business account: proof of your business identity, proof of your personal identity, and proof of your address. The exact list varies by bank and by the type of business structure you have — a sole proprietorship needs different paperwork than an LLC or corporation.
You will need to bring originals or certified copies, not photocopies. Banks verify documents against government records, so a copy of your driver's license will not work; you bring the license itself. Some banks now let you upload documents through their website or mobile app, but you may still need to visit a branch in person to complete the account opening.
Key Takeaways
- Every business account requires a government-issued photo ID for the owner or authorized signer, plus proof of the business's legal existence (EIN letter, articles of incorporation, or DBA filing).
- Banks verify your address using a recent utility bill, lease, or mortgage statement — not a PO box — so bring a document dated within the last 60 to 90 days.
- Sole proprietors often need only their Social Security number and personal ID, while LLCs and corporations must provide formation documents from the state.
- Some banks require a minimum opening deposit, which ranges from zero to several hundred dollars depending on the institution and account type.
- If you have not yet received your EIN from the IRS, you can open an account using your Social Security number, though some banks prefer the EIN.
Personal identification documents the bank will request
Bring a current government-issued photo ID — a driver's license, passport, or state ID card. The ID must not be expired, and the name on it must match the name you are registering the business under. If you have changed your name since your ID was issued, bring both the ID and a document showing the legal name change (marriage certificate, court order, or amended birth certificate).
If you are opening the account as an authorized signer on behalf of the business but not the owner, the bank will still ask for your photo ID. Some banks also run a background check at this point, looking at your banking history and credit report. This is standard practice and does not mean you have done anything wrong.
Business formation and tax identification documents
What you bring here depends on your business structure. If you are a sole proprietor operating under your own name, you may need only your Social Security number and personal ID — no separate business documents. If you are using a business name that is not your legal name, bring a copy of your DBA (Doing Business As) filing from your county or state.
If you have an LLC, corporation, or partnership, bring the articles of incorporation or articles of organization from your state. This is the document you filed with your state's Secretary of State office when you formed the business. Bring the most recent version; if you have amended it, bring the amended version.
Bring your Employer Identification Number (EIN) letter from the IRS if you have one. This is the letter the IRS sent you when you applied for an EIN — not a tax return, not a business license, but the actual letter with your EIN printed on it. If you have not yet received your EIN, you can still open an account using your Social Security number, though some banks will ask you to provide the EIN once you receive it.
Proof of address and ownership
Banks verify your address using a document dated within the last 60 to 90 days. A utility bill (electric, gas, water, or internet), lease agreement, mortgage statement, or property tax bill all work. A PO box does not count — the bank needs your physical street address. If you recently moved and your documents still show an old address, bring the new document along with a forwarding notice from the post office or a recent lease.
For the business address, bring the same type of document if the business is located at your home. If you are renting commercial space, bring a copy of your lease. If you are in a shared office or coworking space, bring the agreement or letter from the space provider showing your business name and the address.
Ownership and authorization documents for multiple owners
If the business has more than one owner, the bank will ask who can sign checks and make decisions on the account. Bring a document showing the ownership structure — this might be your LLC operating agreement, partnership agreement, or corporate bylaws. The bank uses this to understand who has authority to act on the account.
If someone other than the owner will be signing checks or making withdrawals, bring a resolution or written authorization from the owners stating that this person is authorized to do so. Some banks have their own form for this; ask when you call to schedule your appointment.
Business licenses and permits (when required)
Some states and cities require a business license before you can open a bank account; others do not. Call the bank before you go in and ask whether they require one. If they do, bring your business license or a copy of your license application showing it is pending. If you have not yet obtained a license, ask the bank whether you can open the account while your application is in progress.
Certain industries — financial services, insurance, healthcare — may need additional licenses or permits. If you work in one of these fields, ask your bank what they need to see.
What to bring if you do not have all documents yet
If you have applied for an EIN but have not received the letter, call the IRS at 1-800-829-4933 and ask for your EIN over the phone. Write it down and bring it to the bank. If your state has not yet processed your LLC or corporation filing, bring a copy of your application showing the filing date and a reference number.
Some banks will open an account with a pending EIN or formation document, but they will ask you to provide the final version once it arrives. Others will not. This is why calling ahead matters — you can find out what the bank will accept before you make the trip.
Minimum deposit and account setup fees
Most business checking accounts require an opening deposit, though the amount varies. Some banks ask for as little as $25 or $100; others require $500 or more. A few banks have no minimum deposit requirement. Ask about this when you call to schedule your appointment, because it affects how much cash or a check you need to bring.
Ask also whether there are monthly maintenance fees, per-check fees, or fees for transfers and wire transfers. These vary widely by bank and by account type. Some banks waive fees if you keep a minimum balance or set up direct deposit.
Frequently Asked Questions
Can I open a business account without an EIN?
Yes. Sole proprietors can use their Social Security number instead of an EIN. LLCs and corporations can also use the owner's Social Security number temporarily, though many banks prefer the EIN and may ask you to provide it once you receive it from the IRS.
Do I need to bring original documents or are copies okay?
Banks verify documents against government records, so they need to see originals or certified copies. A photocopy will not work. Some banks now let you upload photos of documents through their website, but you may still need to bring originals to a branch to complete the account opening.
What if my business address is my home?
Bring a utility bill, lease, or mortgage statement showing your home address, dated within the last 60 to 90 days. The bank needs your physical street address, not a PO box. If you are in a coworking space or shared office, bring your agreement with that space showing your business name and the address.
How long does it take to open a business account once I submit my documents?
Most banks open the account the same day or within one to two business days if you apply in person at a branch. Online applications may take three to five business days while the bank verifies your documents. Ask the bank for their timeline when you submit your paperwork.
What happens if the bank rejects one of my documents?
The bank will tell you which document does not meet their requirements and ask you to bring a different one. For example, if your address document is older than 90 days, they will ask for a more recent one. Call the bank if you are unsure whether a document will work before you make the trip.