What You'll Need Before You Walk Into the Bank

Most banks want the same core set of documents before they'll open a business account: your Employer Identification Number (EIN), proof of your business structure, a government-issued ID, and your Social Security Number. The exact list depends on whether you're a sole proprietor, LLC, corporation, or partnership — each structure triggers different paperwork requirements. Some banks also ask for a business license, articles of incorporation or formation, and a recent business tax return if your company has been operating for more than a year.

The fastest path is calling the bank's business services line before you go in. They'll tell you their specific checklist for your business type, which saves you a trip back home for a missing document. Different banks have different rules, and some branches enforce them differently, so confirming ahead prevents delays.

Key Takeaways

  • You need your EIN, a government-issued ID, and proof of your business structure — the exact documents vary by business type and by bank.
  • Sole proprietors often need only an EIN and personal ID, while LLCs and corporations require articles of formation or incorporation.
  • Calling the bank's business department before you visit tells you their exact requirements and prevents wasted trips.
  • Some banks charge monthly fees, require minimum balances, or limit free transactions, so comparing accounts matters as much as gathering documents.

Documents for Sole Proprietors

If you're operating as a sole proprietor — meaning you haven't formed an LLC or corporation — you need fewer documents than other business structures. Bring your government-issued ID (driver's license or passport), your Social Security Number, and your EIN if you have one. If you haven't obtained an EIN yet, you can apply for one free through the IRS website, and many banks will let you open an account with just your Social Security Number while you wait for the EIN to arrive.

Some banks also ask for a business license or a DBA (Doing Business As) certificate if you're operating under a name different from your legal name. Check your state or county requirements — many states require a DBA filing before you can open a business account under that name. A few banks request a recent business tax return (Schedule C from your personal return) if you've been in business for over a year, though this is less common for sole proprietors than for other structures.

Documents for LLCs and Corporations

LLCs and corporations need more paperwork because they're separate legal entities. Bring your Articles of Formation (for an LLC) or Articles of Incorporation (for a corporation) — these are the documents you filed with your state to create the business. You'll also need your EIN, a government-issued ID for the person opening the account, and the Social Security Number of the owner or authorized representative.

Many banks also request an Operating Agreement (for LLCs) or Corporate Bylaws (for corporations), though some will waive this if you don't have it yet. A few banks ask for a Certificate of Good Standing from your state, which proves your business is currently registered and in compliance. You can order this from your state's Secretary of State office for a small fee — it usually arrives within a week. If your business has been operating for more than a year, some banks want a recent business tax return as well.

Documents for Partnerships

Partnerships require your Partnership Agreement (the document outlining how the partnership operates) and your EIN. Bring government-issued IDs and Social Security Numbers for all partners, or at minimum for the partner opening the account. Some banks require a resolution or written authorization from all partners stating who is allowed to sign checks and make withdrawals, so have that ready if the bank asks.

Like LLCs and corporations, partnerships may need a Certificate of Good Standing from your state. If your partnership has been operating for over a year, bring a recent business tax return (Form 1065). The bank may also ask for a business license or DBA certificate depending on your state's requirements and whether you're operating under a name different from the partners' legal names.

Information About Your Business and Owners

Beyond documents, banks collect information about what your business does, how long it's been operating, and how much money you expect to move through the account. Be ready to describe your industry, your main products or services, and your expected monthly deposit and withdrawal volume. This helps the bank assess risk and flag accounts that might need extra monitoring under anti-money-laundering rules.

You'll also provide the names and ownership percentages of all owners, and the bank may ask about any criminal history or prior banking problems. Banks use this information to comply with federal regulations, not to judge you — they're checking databases to make sure they're not opening accounts for people on government watchlists. Answer honestly; lying on a bank application can result in account closure and legal consequences.

What Happens If You're Missing a Document

If you show up without something the bank requires, you have a few options. Some banks will let you open the account with what you have and email the missing document later — this is common for items like a Certificate of Good Standing or a recent tax return. Others will schedule a follow-up appointment once you have everything, which usually takes a few days to a week.

A few banks won't open the account until all documents are in hand. If that's the case, ask which document is most urgent and get that one first. An EIN takes a few minutes to apply for online and can be used immediately, even though the official letter arrives later. Articles of Formation or Incorporation are usually available instantly from your state's website if you filed recently. A business license or DBA certificate may take a few days to a few weeks depending on your state, so prioritize getting that if it's required.

Comparing Accounts Before You Apply

While you're gathering documents, compare what different banks offer. Business accounts vary widely in monthly fees (ranging from free to $25 or more), minimum balance requirements (from zero to several thousand dollars), and transaction limits. Some banks charge per check written or per deposit, while others offer unlimited transactions. A few banks offer free accounts for the first year, then charge after that.

Online banks typically have lower fees and no minimum balance, but they don't have physical branches — you deposit checks by phone camera and withdraw at ATMs. Local or regional banks often have higher fees but offer in-person service and relationship managers who know your business. Credit unions sometimes offer competitive rates and lower fees if you meet membership requirements. Spend 15 minutes comparing three to five options before you commit, because switching accounts later is time-consuming.

Frequently Asked Questions

Can I open a business account without an EIN?

Yes. If you're a sole proprietor, most banks will let you use your Social Security Number instead of an EIN. You can apply for an EIN free on the IRS website and use it immediately, even though the official letter takes a few days to arrive. Some banks will let you add the EIN to your account later once it comes through.

Do I need a business license to open a business bank account?

It depends on your state and the bank. Some states require a business license or DBA filing before you can operate under a business name, and some banks won't open an account without proof of that. Call your state's Secretary of State office or your county clerk to find out what's required in your area, then ask the bank whether they need it.

What if I don't have articles of incorporation yet?

If you've formed an LLC or corporation but haven't received your official articles from the state, you can usually get a copy from your state's Secretary of State website within minutes. If you haven't filed yet, file now — it takes 15 minutes online and costs $50 to $300 depending on your state. Most banks won't open a business account for an LLC or corporation that doesn't officially exist.

How long does it take to open a business account once I have all the documents?

Most banks can open an account the same day if you have everything they need. The account is usually active within 24 hours, though it may take a few business days for your debit card and checks to arrive. Some online banks open accounts in minutes, but you won't have a physical card or checks for a week or two.

Do I need to bring originals or can I bring copies?

Banks usually accept copies of most documents, but they may want to see your government-issued ID in person to verify it's real. Ask the bank when you call whether they need originals or copies — most will tell you copies are fine for everything except your personal ID.