Documents and information you'll need before you walk in

To open an LLC bank account, you need your Articles of Organization (the state document that officially created your LLC), a valid photo ID, and your Employer Identification Number (EIN) from the IRS. Some banks also ask for a copy of your LLC's operating agreement, though not all require it. Bring originals or certified copies—banks will not accept photocopies of your Articles of Organization.

If you have not yet received your EIN, you can obtain one the same day by applying online at the IRS website (irs.gov) or by phone. The online process takes about 15 minutes and the IRS issues the number immediately. You do not need to wait for a physical letter to arrive before opening the account; the bank can verify the EIN directly with the IRS.

Bring your Social Security number or Individual Taxpayer Identification Number (ITIN) as well. The bank will use this to run a background check and verify your identity. If your LLC has multiple owners, each owner who will sign checks or access the account typically needs to provide their own ID and Social Security number.

Key Takeaways

  • You must bring your Articles of Organization (original or certified copy), a valid photo ID, and your EIN before the bank will open the account.
  • If you do not yet have an EIN, apply online at irs.gov the same day—the IRS issues it immediately and you do not need to wait for a letter.
  • The bank will ask whether the LLC is taxed as a sole proprietorship, partnership, or corporation; this determines which tax forms you file later.
  • Each person authorized to sign checks or withdraw money must provide their own ID and Social Security number to the bank.
  • Some banks require a minimum opening deposit (often $25 to $300) and may charge monthly fees unless you maintain a certain balance.

How the bank will ask you to classify your LLC for tax purposes

When you sit down with the bank, they will ask how your LLC is taxed. This is not the same as your business structure—it is how the IRS treats your LLC for income tax filing. By default, a single-owner LLC is taxed as a sole proprietorship and a multi-owner LLC is taxed as a partnership, but you can elect to be taxed as an S-corporation or C-corporation instead.

Tell the bank which classification applies to you. If you have not made an election with the IRS, you are using the default. The bank uses this information to determine which tax identification number to use on the account and which forms you will need to file. If you later change your tax classification by filing Form 8832 with the IRS, you will need to notify the bank and update your account.

What happens if you do not have all documents yet

If your Articles of Organization have not arrived from your state yet, most banks will not open the account. Some banks will hold your application and open the account once you provide a certified copy, but this can take weeks. The faster route is to contact your state's Secretary of State office and request an expedited certified copy—many states offer this for a fee of $10 to $50 and can mail it within one to three business days.

If you have filed for your EIN but have not received the confirmation letter, bring your IRS confirmation email or the receipt from your online application. The bank can verify the number with the IRS directly. Do not delay opening the account waiting for the physical letter to arrive in the mail.

Fees and minimum balances to compare before you choose a bank

LLC bank accounts often carry higher monthly fees than personal accounts—typically $15 to $50 per month, depending on the bank and account type. Some banks waive the fee if you maintain a minimum balance (often $1,000 to $5,000) or set up direct deposit. Others charge per transaction if you exceed a certain number of deposits or withdrawals each month.

Ask the bank about their specific fee structure before you open the account. Some banks offer business checking accounts with no monthly fee if you keep a low balance and do not exceed a set number of transactions. Credit unions sometimes have lower fees than national banks, but they may have stricter requirements about who can own an LLC account with them.

Bringing a co-owner or authorized person with you

If your LLC has multiple owners and you want all of them to have signing authority on the account, each owner must come to the bank in person with their own ID and Social Security number. Some banks allow you to add authorized signers after the account opens, but this usually requires a separate form and may take a few extra days to process.

If one owner cannot attend, you can open the account with just one owner present and add the others later. However, the owner who opens the account will be the primary account holder and may have different liability or access rights than co-signers. Ask the bank how their signature card works and whether all owners need to sign it or just one.

What to expect after you open the account

The bank will issue you a debit card, checks, and online banking access on the same day or within one to three business days. Keep your account number and routing number for setting up payroll, paying vendors, or receiving payments from customers. The routing number is specific to your bank's location and appears on every check.

The bank will send you a tax form (usually Form 8832 or a similar document) if you elected to be taxed as a corporation. Keep this for your records. If you did not make an election, the bank will treat your LLC under the default tax classification and you will file the corresponding tax forms (Schedule C for sole proprietorship, Form 1065 for partnership) when you file your personal or business taxes.

Frequently Asked Questions

Can I open an LLC bank account online without going to the bank in person?

Some online banks and credit unions allow you to open an LLC account entirely online by uploading photos of your Articles of Organization, ID, and EIN. However, most traditional banks require at least one owner to appear in person with original documents. Check with your bank about their specific policy before you apply.

What if my LLC name is different from my personal name?

The account will be opened under your LLC's legal name (the name on your Articles of Organization). You will sign documents as the owner of the LLC, not in your personal name. The bank will verify that you are authorized to act on behalf of the LLC by checking your ID and the Articles of Organization.

Do I need a business license to open the account?

No. The bank needs your Articles of Organization and EIN, not a business license. However, some states or cities require a business license before you can legally operate, so check your local requirements separately. The bank will not ask for it, but you may need it to open a merchant account or hire employees later.

What if I have not filed my Articles of Organization yet?

You cannot open an LLC bank account without proof that your LLC exists. File your Articles of Organization with your state first, then request a certified copy. This usually takes one to two weeks by mail, or one to three business days if you pay for expedited processing. Once you have the certified copy, you can open the account.

Can I use my personal Social Security number instead of getting an EIN?

Only if your LLC has a single owner and you have not elected to be taxed as a corporation. In that case, the IRS treats the LLC as a sole proprietorship and you can use your Social Security number as your tax ID. If your LLC has multiple owners or you elect corporate taxation, you must have an EIN. Ask the bank which option applies to your situation.