What the Bank Will Ask For
When you walk into a bank or start an application online to open a business checking account, you will need to provide information about your business and yourself. The exact list depends on your business structure — a sole proprietorship requires less paperwork than an LLC or corporation — and on the bank's own rules. Most banks ask for the same core items, but some ask for more.
Banks are required by federal law to verify your identity and your business's identity before opening the account. This is called Know Your Customer (KYC) compliance. It protects the bank from fraud and money laundering, and it means you cannot open an account with incomplete information, no matter how established your business is.
Key Takeaways
- Every bank will ask for your Social Security number or Individual Taxpayer Identification Number, a government-issued photo ID, and proof that your business exists.
- If your business is structured as an LLC, corporation, or partnership, you will need your Articles of Organization or Articles of Incorporation from your state.
- Sole proprietors can often open an account with just a Social Security number and ID, though some banks ask for a DBA certificate if you operate under a business name.
- Banks may ask for a business license, proof of address, and an Employer Identification Number (EIN) from the IRS, depending on the bank and your business type.
- Bring originals or certified copies of documents; banks will not accept photos or faxes of most items.
Documents for Sole Proprietors
If you operate as a sole proprietor — meaning you own the business by yourself and have not filed paperwork to create an LLC or corporation — you need the least amount of documentation. Bring your Social Security number and a government-issued photo ID, such as a driver's license or passport. That is the minimum most banks require.
If you do business under a name other than your legal name, many banks ask for a DBA certificate (Doing Business As). This is a document you file with your county or state to register your business name. Some banks will open the account without it, but they may require it later if you want to deposit checks made out to your business name. Check with your bank first — if they require it, get the certificate before you go in.
Some banks also ask sole proprietors for proof of a business address. This can be a lease, a utility bill in your business name, or a letter from a property owner. If you work from home, a utility bill with your home address usually works.
Documents for LLCs and Corporations
If your business is an LLC, corporation, or partnership, you will need to prove that the business legally exists. Bring your Articles of Organization (for an LLC) or Articles of Incorporation (for a corporation). These are the documents you filed with your state when you created the business. You can get a certified copy from your state's Secretary of State office if you do not have the original.
You will also need an Employer Identification Number (EIN) from the IRS. This is a nine-digit number that works like a Social Security number for your business. If you have not received your EIN yet, you can obtain one for free from the IRS website or by calling their business line. The process takes a few minutes online or a few days by phone. Bring the EIN letter the IRS sends you, or write down the number if you received it by phone.
Most banks also ask for a Certificate of Good Standing from your state. This is a document that proves your business is registered and in good legal standing. You can order this from your state's Secretary of State office. It costs a small fee (usually $5 to $25) and takes a few days to arrive by mail, though some states offer same-day or next-day service for an extra charge.
Bring the personal ID and Social Security number of the person who will sign the account paperwork — usually the owner or a designated representative. Some banks ask for the IDs of all owners if there are multiple owners.
Information About Your Business and Its Owners
Beyond documents, the bank will ask you to fill out a form with details about your business. Have this information ready before you go in or start an online application: your business name, the date you started the business, the type of work you do, your expected monthly deposit volume, and the primary purpose of the account.
The bank will also ask about the owners and signers on the account. For each person, they will need a full legal name, date of birth, Social Security number, and current address. If your business has multiple owners, the bank may ask for information on all of them, or only on those who will have signing authority on the account.
Some banks ask whether your business has been denied a bank account before, or whether you or your owners have had accounts closed by other banks. Answer honestly — banks share this information through a system called ChexSystems, and lying can result in your application being denied.
Proof of Address and Business License
Many banks ask for proof that your business address is real and that you control it. If you have a physical office or storefront, bring a lease, a mortgage statement, or a recent utility bill in your business name. If you work from home, a utility bill or property tax statement with your home address works.
Some banks also ask for a business license. This is issued by your city or county and proves you have permission to operate your business in that location. Not all businesses need a license — it depends on your industry and location — so ask your city or county whether you need one. If you do, bring the original or a certified copy.
A few banks ask for a business plan or financial projections, especially if you are a new business or if you expect very high deposit volumes. This is less common for basic checking accounts, but it can happen. If the bank asks, a one-page summary of what your business does and how much money you expect to move through the account is usually enough.
What Happens After You Provide the Documents
Once you submit your information and documents, the bank will verify everything. They will check your identity against government databases, confirm that your business exists with your state, and run a background check. This process usually takes one to three business days for online applications and can be instant if you apply in person.
If the bank needs more information, they will contact you by phone or email. If everything checks out, you will receive confirmation that your account is open. The bank will give you account numbers, online banking login information, and details about ordering checks and debit cards.
Keep copies of all the documents you submitted. Banks sometimes ask for proof later that you provided certain items, and having copies protects you if there is a dispute.
Frequently Asked Questions
Do I need an EIN if I am a sole proprietor?
Not always. Many sole proprietors use their Social Security number instead of an EIN. However, if you have employees or if you want to keep your personal and business finances completely separate, getting an EIN is a good idea. Some banks ask for one even from sole proprietors, so check with your bank first.
What if I do not have a Certificate of Good Standing yet?
Call your bank and ask whether they will open the account while you wait for the certificate to arrive. Many banks will, as long as you have your Articles of Organization and EIN. You can usually submit the Certificate of Good Standing later by mail or through your online banking portal.
Can I open a business account online, or do I have to go to a branch?
Many banks now allow you to start the application online, but most still require you to verify your identity in person or through a video call. Some online-only banks can complete the entire process remotely. Ask your bank what their process is before you start.
What if my business address is a mailbox or a virtual office?
Some banks will not accept a mailbox as a business address. If you use a mailbox service or a virtual office, call the bank first to ask whether they accept it. If they do not, you may need to use a physical address — your home address, a co-working space, or a friend's business address with their permission.
Do I need to bring original documents or can I send copies?
Banks require originals or certified copies for most documents. Photocopies and photos are not accepted. If you are applying online, the bank will tell you how to submit documents — usually through a secure upload or by mailing them in.