You don't always need an EIN, but the bank will ask for one form of identification
Whether you need an Employer Identification Number (EIN) depends on what kind of account you're opening and who owns it. If you're opening a personal checking or savings account, you need a Social Security Number, not an EIN. If you're opening an account for a business, partnership, LLC, nonprofit, or trust, the bank will ask for an EIN — and you'll need to get one before you can finish the application.
Banks don't have a choice about this. Federal law requires them to verify your identity and tax status before they open any account. For individuals, that's your SSN. For entities (anything that isn't a single person), that's an EIN. If you show up without the right number, the bank will turn you away or put the account on hold until you provide it.
Key Takeaways
- Personal accounts require a Social Security Number; business, nonprofit, and trust accounts require an EIN.
- An EIN is free and takes about 15 minutes to get online through the IRS website, or you can apply by mail or phone.
- The bank will not open a business account without an EIN on file — they cannot legally do so.
- If you're a sole proprietor operating under your own name, you can use your SSN instead of an EIN, but many banks prefer the EIN anyway.
- You do not need to have filed taxes or been in business for any length of time to get an EIN.
When the bank will ask for an EIN
The bank asks for an EIN when you're opening an account in the name of a business entity rather than yourself. This includes:
- Limited liability companies (LLCs)
- Corporations (S-corp or C-corp)
- Partnerships
- Nonprofits and charitable organizations
- Trusts (revocable or irrevocable)
- Estates
If you're a sole proprietor — meaning you're self-employed but haven't formed a separate legal entity — you can use your Social Security Number instead. However, many banks now require an EIN even for sole proprietors, so call ahead and ask. It's easier to get the EIN before you go in than to be turned away at the desk.
If you're opening a joint personal account with another individual, you both provide your Social Security Numbers. No EIN is needed.
How to get an EIN before you open the account
The IRS issues EINs for free. You have three ways to get one: online (fastest), by phone, or by mail.
Online through the IRS website is the quickest route. Go to irs.gov, search for "Apply for an EIN," and use the online application tool. You'll answer questions about your business structure, location, and what you do. The process takes about 15 minutes, and you'll receive your EIN immediately on screen. Write it down or screenshot it — you'll need it when you walk into the bank.
By phone takes longer but works if you prefer talking to someone. Call the IRS Business & Specialty Tax Line at 1-800-829-4933. Have your Social Security Number, business structure, and business address ready. The IRS will issue your EIN over the phone and mail you a confirmation letter within two weeks.
By mail is the slowest option. Download Form SS-4 from irs.gov, fill it out, and mail it to the IRS address listed on the form. Processing takes about four weeks. Use this only if you cannot access the online tool or phone line.
You do not need to have been in business, earned income, or filed taxes to get an EIN. The IRS will issue one as soon as you apply, regardless of your business stage.
What to bring to the bank once you have your EIN
When you go to open the account, bring your EIN and proof of your business structure. The bank will ask for:
- Your EIN (from the IRS confirmation or letter)
- A government-issued photo ID (driver's license, passport, or state ID)
- Articles of organization, incorporation, or formation (the legal document that created your business entity)
- A business license or certificate of good standing (requirements vary by state and bank)
- Proof of your business address (utility bill, lease, or business registration)
Not every bank asks for all of these. Call your bank before you go and ask what documents they need for the specific type of account you're opening. Some banks have streamlined the process and only ask for the EIN and your ID. Others, especially for nonprofits or trusts, ask for more.
If you don't have an EIN yet and the bank won't wait
Some banks will hold your application for a few days while you get your EIN. Others will not. If the bank says they can't open the account without it, you have two options: get the EIN online right then (if you have a phone or computer in the bank), or come back once you have it.
The online IRS tool is available 24/7, so you can apply from home, get your EIN in 15 minutes, and return to the bank the same day or the next morning. This is faster than waiting for a phone line or mail confirmation.
If you're opening the account remotely (online or by mail), ask the bank how long they'll hold your application. Most will wait 5 to 10 business days for you to provide the EIN. Get it online as soon as you can and send it to them.
Sole proprietors: SSN or EIN
If you're self-employed and operating under your own name (not an LLC or corporation), you technically don't need an EIN. You can use your Social Security Number instead. However, many banks now prefer or require an EIN even for sole proprietors because it separates your personal and business finances more clearly.
If you plan to hire employees, you will need an EIN regardless of your business structure. If you're the only person working in the business, you have a choice. Call the bank before you apply and ask whether they require an EIN for your situation. If they do, get one. If they don't, you can use your SSN, though getting an EIN anyway is a good practice for keeping your finances organized.
What happens if you apply without an EIN
If you try to open a business account without providing an EIN, the bank will not complete the application. They're required by federal law to verify that the entity exists and is legitimate. An EIN is how they do that verification. Without it, they have no way to confirm you're who you say you are or that your business is real.
The bank will either ask you to come back with the EIN or, if you're applying online, they'll put your application on hold and send you a message asking for it. You won't be able to move forward until you provide one.
This is not the bank being difficult — it's a legal requirement called Know Your Customer (KYC) compliance. Every bank in the United States has to follow it.
Frequently Asked Questions
Can I use a temporary EIN while I wait for the official one?
No. The IRS does not issue temporary EINs. When you apply online, you get your permanent EIN immediately. If you apply by phone, you get it over the phone and can use it right away. If you apply by mail, you have to wait for the letter. There is no interim number.
Do I need an EIN if I'm opening a business account under my personal name?
Only if your bank requires it. Sole proprietors can legally use their Social Security Number. However, many banks now ask for an EIN anyway. Call your bank and ask before you apply. If they require it, get one online — it takes 15 minutes.
What if I already have an EIN but the bank says it's not valid?
Double-check that you're giving the bank the correct number. EINs are nine digits formatted as XX-XXXXXXX. If the number is correct and the bank still says it's invalid, the IRS database may not have updated yet. This sometimes happens if you applied by mail. Ask the bank if they can verify it manually using your business name and address, or wait a few days and try again.
Can I open a personal account with an EIN instead of my SSN?
No. Personal accounts require a Social Security Number. An EIN is for business entities only. If you're opening an account for yourself as an individual, bring your SSN and a photo ID.
How long does it take to get an EIN if I apply by mail?
The IRS typically processes mail applications in about four weeks. If you need the account open sooner, apply online or by phone instead. Online takes 15 minutes; phone takes one call and a follow-up letter in the mail.