The basic documents and information banks will ask for

To open a business account, you will need to prove who you are, prove your business exists, and show the bank how your business is structured. Most banks ask for a government-issued ID, your Social Security number or Employer Identification Number (EIN), and paperwork that shows your business is real — either a business license, articles of incorporation, or a DBA (Doing Business As) certificate, depending on what kind of business you run.

The exact list changes by bank and by business type. A sole proprietorship needs different paperwork than an LLC or a corporation. Some banks have higher requirements than others. Before you go in, call the bank branch or check their website for their specific checklist — this saves a trip back home for a missing document.

Key Takeaways

  • You will need a government-issued photo ID, your Social Security number or EIN, and proof that your business exists (license, articles of incorporation, or DBA certificate).
  • The documents required depend on whether you are a sole proprietor, LLC, partnership, or corporation — call your bank first to confirm what they need.
  • Some banks require a minimum deposit to open the account, and this amount varies widely between institutions.
  • You may need to bring a co-owner or authorized person if the account will have multiple signers, or you can set that up after opening.

Personal identification and tax information

Bring a current government-issued photo ID — a driver's license, passport, or state ID card. The bank needs to verify you are who you say you are under federal law (this is called Know Your Customer, or KYC, verification).

You will also need either your Social Security number or your Employer Identification Number. If you are a sole proprietor with no employees, you may use your Social Security number. If you have employees or are structured as an LLC, S-corp, or C-corp, you will have an EIN from the IRS. If you do not have an EIN yet, you can get one free from the IRS website before you open the account, or some banks will help you apply during the account-opening process.

Business structure documents

What you bring depends on how your business is legally set up. If you are a sole proprietor operating under your own name, you may only need your ID and Social Security number. If you are operating under a different name, bring your DBA certificate (also called a fictitious name certificate), which you register with your county or state.

If you are an LLC, bring your articles of organization. If you are a corporation, bring your articles of incorporation. If you are a partnership, bring your partnership agreement or articles of partnership. These documents prove to the bank that your business structure is real and registered with your state.

Some banks also ask for a business license. This is issued by your city or county and shows you have permission to operate. Not all businesses need one — it depends on your industry and location — but if you have one, bring it.

Ownership and authorization documents

If more than one person will sign checks or make decisions on the account, the bank needs to know who those people are. You can list multiple owners or authorized signers when you open the account, or you can add them later. If you add them later, you will need to fill out a signature card or authorization form with the bank.

If someone other than you will be present at the account opening, bring their government-issued ID as well. Some banks require all owners to be present; others allow one owner to open the account and add others by mail or in person later. Ask the bank about their policy before you go in.

Minimum deposit requirements

Many banks require you to deposit money when you open the account. This minimum varies — some banks ask for $100, others for $500 or $1,000 or more. A few banks have no minimum. This money goes into your account and is yours to use; it is not a fee. Check with your bank about their specific minimum before you arrive.

If you do not have the minimum on hand, ask whether the bank will waive it or lower it. Some do if you set up direct deposit or keep a certain balance. Others are firm. Knowing this ahead of time helps you decide which bank to use.

Additional information the bank may request

Depending on your industry, the bank may ask for more information. If you are in a high-risk field — such as cannabis, money services, or certain financial services — expect more detailed questions about your business, your customers, and where your money comes from. This is standard anti-money-laundering compliance.

The bank may also ask for a business plan, tax returns from previous years, or a letter explaining what your business does. They are trying to understand your business and make sure the account will be used for legitimate purposes. Have this information ready if you think it might apply to you.

What happens after you open the account

Once the bank approves your account, you will receive a debit card, checks, and online banking access. The bank will give you a routing number and account number so you can set up direct deposit or receive wire transfers. Some banks mail these items; others give them to you on the spot.

You will also receive the account agreement, which explains the bank's rules, fees, and what happens if you overdraw. Read this carefully — it tells you what you are responsible for and what the bank will charge you for.

Frequently Asked Questions

Do I need an EIN if I am a sole proprietor?

No, you can use your Social Security number instead. You only need an EIN if you have employees, are structured as an LLC or corporation, or choose to get one for privacy reasons. You can get an EIN free from the IRS website in minutes.

Can I open a business account without being present in person?

Some banks allow you to open an account online or by mail, but most require at least one owner to come in person with ID. Call your bank to ask whether they offer remote account opening. If they do, you will still need to provide the same documents — usually by uploading them or mailing copies.

What if I do not have a business license yet?

You can still open an account. A business license is not always required — it depends on your industry and location. Bring what you do have: your DBA certificate, articles of incorporation, or partnership agreement. The bank will tell you if they need anything else.

Can I add a co-owner after I open the account?

Yes. You can open the account in your name alone and add co-owners or authorized signers later by filling out a signature card or authorization form at the bank. The co-owner will need to provide their ID and Social Security number.

What if the bank asks for documents I do not have?

Ask the bank which documents are required and which are optional. If you are missing something required, ask whether you can provide it later or whether the bank will accept an alternative. Some banks are flexible; others have strict requirements. If one bank will not work with you, try another.