Yes, but only if you have the legal authority to do so
An LLC member can open a bank account in the company's name, but the bank will require proof that you have the power to act on behalf of the LLC. This proof comes from your operating agreement — the document that spells out who can sign checks, make deposits, and bind the company to financial obligations. If your operating agreement says you can, you can. If it says you cannot, the bank will refuse to let you open the account, even if you own part of the company.
Most banks will not take your word for it. They will ask to see the operating agreement itself, or a certified copy of a resolution from the LLC's members authorizing you to open the account. Some banks also ask for an EIN letter from the IRS — a document that proves the LLC exists and shows its tax ID number. Without these documents, the bank has no way to know whether you actually have the right to act.
The person who opens the account does not have to be the one who uses it. You can be the authorized signer and never touch the account again; someone else can make all the deposits and withdrawals. What matters is that the bank has documented proof that you had the authority to set it up in the first place.
Key Takeaways
- Your operating agreement determines whether you can open an account on behalf of the LLC — membership alone is not enough.
- Banks require written proof of your authority, usually the operating agreement itself or a certified member resolution.
- An EIN letter from the IRS confirms the LLC exists and provides its tax identification number, which the bank will need.
- The person who opens the account can be different from the person who uses it, as long as both are authorized in the operating agreement.
- If your operating agreement does not address who can open accounts, the LLC members must vote and document that decision in writing.
What the bank will ask for
When you walk into a bank to open an LLC account, bring your operating agreement. The bank will photocopy it or ask for a certified copy. If the operating agreement does not explicitly say you can open accounts, bring a resolution — a written statement signed by all members (or the managing member, depending on your structure) saying that you are authorized to do so. This resolution should be dated and kept with your LLC records.
You will also need an EIN letter, which you can get free from the IRS. If your LLC already has an EIN and you have not received this letter, you can request one by calling the IRS at 1-800-829-4933 or by mailing Form SS-4 to the IRS. The letter shows the LLC's legal name, its EIN, and the date it was formed. Some banks will accept a screenshot of your IRS online account instead, but calling ahead to ask what your specific bank accepts saves a trip.
Bring a government-issued ID in your own name. The bank is verifying that you are who you say you are, not that you own the LLC. Bring the LLC's legal formation documents — usually the Articles of Organization filed with your state — or a certified copy. Some banks ask for this; others do not. Calling the bank's business account line before you go will tell you exactly what they need.
When your operating agreement is silent
If your operating agreement does not say who can open bank accounts, you cannot simply decide to do it yourself. The LLC members must make that decision together. Call a meeting (or send a written notice if your state allows written consent) and have all members vote on whether you should be authorized to open and manage the account. Write down the date, who voted, and what they voted for. This written record is your resolution.
If the LLC has a managing member, that person may have broad authority to handle financial matters without a separate vote. Check your operating agreement for language like "the managing member shall have the power to open bank accounts" or "the managing member shall manage all financial affairs." If that language exists, you may only need the managing member's sign-off, not a vote of all members. But if you are not sure, ask for a resolution anyway — it costs nothing and protects everyone.
Some states have default rules for LLCs that do not have an operating agreement. In those cases, all members usually have equal authority to bind the LLC, which means any member can open an account. But most banks will still want to see something in writing, even if it is just a statement from all members confirming that you have authority. Do not assume the bank knows your state's default rules.
Single-member LLCs and authorization
If you are the only member of the LLC, you have the authority to open an account — but the bank still needs proof. Bring your operating agreement (which should say you have full authority as the sole member) and your EIN letter. Some banks will also ask for a resolution even in a single-member LLC, just to have it on file. Write one anyway; it takes five minutes and removes any question later.
A single-member LLC is often treated as a sole proprietorship for tax purposes, but the bank will still want to see that the LLC exists as a separate legal entity. The EIN letter and operating agreement prove that. Without them, the bank may ask whether you want to open a personal account instead, which is not what you want if you are trying to keep business and personal money separate.
What happens if you do not have the authority
If you try to open an account without authorization and the bank discovers it, the bank will close the account. If money has already moved through it, the bank may freeze it while the LLC's members sort out who actually had the right to open it. This creates a mess: vendors waiting for payments, payroll delayed, and the LLC's credit potentially damaged.
More importantly, if you open an account without authorization and then spend the LLC's money, the other members can sue you for breach of fiduciary duty. You have a legal obligation to act within the scope of authority the operating agreement gives you. Exceeding that authority can cost you personally, even if the LLC benefits from what you did.
If you are unsure whether you have authority, ask the other members before you go to the bank. A five-minute conversation and a quick resolution prevent weeks of problems later.
Certified copies and notarization
Some banks ask for a certified copy of your operating agreement or resolution. This means a notary public has reviewed the original document, confirmed it is genuine, and stamped it with their seal. You can get a certified copy from a notary at a bank, UPS Store, or online notary service. The cost is usually $5 to $15 per page.
Not all banks require certification. Call ahead and ask whether your bank needs a certified copy or whether a photocopy is fine. If the bank says it needs certification and you bring a regular copy, they will turn you away. If the bank says a photocopy is fine and you bring a certified copy, you have wasted money but the bank will still open the account.
Some banks will notarize documents for free if you are opening an account with them. Ask when you call. If they will, bring the original operating agreement and resolution unsigned, and the bank's notary can witness your signature on the resolution right there.
After the account is open
Once the account is open, the bank will have a record of who opened it and what authorization documents were on file. If another member later disputes whether you had the right to open it, the bank's records will show what you presented. Keep copies of everything you gave the bank — the operating agreement, the resolution, the EIN letter, and the bank's account opening confirmation. Store these with your LLC's records, not just in your personal files.
If your operating agreement changes later — for example, if the members vote to remove your authority — notify the bank in writing. The bank may ask for a new resolution or updated operating agreement. Do not assume the bank will update its records on its own.
Frequently Asked Questions
Do I need the other members' permission to open an LLC bank account?
Only if your operating agreement requires it. If the agreement says you have authority to open accounts, you do not need permission. If it is silent, you need a written resolution from all members. Check your operating agreement first, or ask the other members to be safe.
Can I open a personal bank account and just use it for the LLC?
Technically yes, but it is a bad idea. Banks can close the account if they discover you are running a business through a personal account. More importantly, using a personal account for business blurs the line between your personal and business finances, which can expose your personal assets if the LLC is sued. Open a business account in the LLC's name.
What if I lost my operating agreement?
Contact the other members and ask them to sign a new resolution authorizing you to open the account. If you cannot reach them, contact your state's Secretary of State office — they may have a copy of your Articles of Organization on file, though not the operating agreement itself. You can also ask a lawyer to help reconstruct the agreement based on what you remember.
Does the bank care who actually uses the account after it is opened?
No. The bank cares who opened it and who is authorized to sign checks or make withdrawals. You can open the account and never touch it again. Someone else can handle all the transactions, as long as the operating agreement says they can.
What if my LLC does not have an operating agreement yet?
Write one before you open the account. An operating agreement does not have to be long or complicated — it just needs to say who the members are, how decisions are made, and who can open bank accounts. You can find templates online or ask a lawyer to draft one. Most banks will not open an account without one, or at least without a resolution from all members.