What You Actually Need to Open a Business Bank Account

The documents and information a bank will ask for before opening day

Before you walk into a bank or start an online application, you need to gather three categories of things: proof of who you are, proof of what your business is, and proof that you have the right to open an account on behalf of that business. The exact list depends on whether you are a sole proprietor, a partnership, an LLC, or a corporation—but every bank will ask for at least one document from each category.

Most banks let you start the process online and finish it in a branch, or complete everything online if you are opening a basic account. Either way, you will not be able to deposit money or use the account until the bank has seen and verified these documents. This usually takes one to three business days after you submit them.

Key Takeaways

You will need a government-issued photo ID for yourself, an Employer Identification Number (EIN) or Social Security Number for your business, and proof that your business exists—usually articles of incorporation, a DBA filing, or a partnership agreement.
Sole proprietors can often open a business account using just their Social Security Number and a driver's license, but banks increasingly require an EIN.
LLCs, corporations, and partnerships must bring formation documents filed with your state—the bank will ask to see the actual file-stamped copy or a certified copy from your secretary of state.
You will need to bring or upload a voided check or deposit slip from the account you want to use, or the bank will provide account and routing numbers after verification.
Some banks require a minimum opening deposit, which ranges from zero to several hundred dollars depending on the account type and the bank.

Personal identification documents you must bring

The bank needs to verify that you are who you say you are. Bring a government-issued photo ID—a driver's license, passport, or state ID card. This is non-negotiable; banks are required by federal law to check this before opening any account.

If you are opening the account on behalf of someone else (for example, you are a manager of an LLC but not the owner), the bank will also need to see ID for the person who has legal authority to open the account. Some banks call this person the "authorized representative" or "account signatory." The bank may ask for a document showing who has that authority—often a board resolution, an LLC operating agreement, or a partnership agreement.

Business identification: EIN or Social Security Number

The bank needs a tax identification number for your business. If your business is a sole proprietorship and you have not filed for an Employer Identification Number (EIN), you can use your Social Security Number. However, most banks now require an EIN even for sole proprietors, so you should get one before you apply.

An EIN is a nine-digit number issued by the IRS. You can get one for free by going to the IRS website (irs.gov), calling the IRS at 1-800-829-4933, or applying by mail. The online application is instant—you receive your EIN immediately after you submit it. You do not need to have filed any tax forms or registered your business with your state to get an EIN; the IRS issues them to businesses that do not yet exist on paper.

If your business is an LLC, corporation, or partnership, you must have an EIN. The bank will not open an account without one.

Proof that your business exists

The bank needs to see that your business is real and registered with your state. What counts as proof depends on your business structure.

Sole proprietors: If you are operating under your own name (for example, "Jane Smith, Consultant"), many banks will accept just your ID and EIN. If you are using a business name that is different from your legal name (for example, "Smith Consulting"), you will need to show a DBA filing—a "Doing Business As" certificate filed with your county or state. Some states call this a "fictitious name" filing. You can usually file one online through your county clerk's office or your state's business registration website for a small fee, and you get a certificate immediately.

LLCs and corporations: Bring the Articles of Organization (for an LLC) or Articles of Incorporation (for a corporation). This is the document you filed with your state's secretary of state when you created the business. The bank will want to see the file-stamped copy that the state returned to you, or a certified copy ordered from your secretary of state's office. If you do not have the original, you can order a certified copy online from your state's website for a small fee, usually $5 to $25.

Partnerships: Bring a copy of your partnership agreement. If you have filed a Certificate of Partnership with your state, bring that too. Not all states require this filing, so check your state's requirements before you go to the bank.

Proof of your authority to open the account

If you are opening the account as the owner or sole proprietor, you do not need anything extra—your ID and business documents are enough. But if you are opening it on behalf of someone else, the bank needs to see that you have the legal right to do so.

For an LLC, this is usually shown in the Operating Agreement, which lists who can sign documents and open accounts on behalf of the business. For a corporation, it is a Board Resolution—a document signed by the board of directors authorizing you to open the account. For a partnership, it is the Partnership Agreement. If you do not have these documents handy, ask the other owners or your accountant for a copy. The bank will make a photocopy and return the original to you.

Bank account and routing numbers, or a voided check

If you already have a personal bank account and want to link it to your business account (for example, to move money between them), the bank will ask for the account number and routing number of that personal account. You can find both on a check, on your bank statement, or by logging into your personal account online.

If you do not have this information handy, you can provide it after you open the business account. The bank does not need it to create the account—they need it only if you want to set up transfers or automatic payments.

Opening deposit and minimum balance requirements

Some business accounts require a minimum opening deposit. This varies widely: some banks have no minimum, while others require $100, $500, or more. A few banks waive the minimum if you set up direct deposit or keep a certain balance. Check the bank's website or call ahead to find out what the requirement is for the specific account type you want.

The opening deposit is your money—it goes into the account and counts toward any minimum balance requirement. You can withdraw it whenever you want, as long as you maintain the minimum balance if one exists.

Frequently Asked Questions

Can I open a business account online without going to a branch?

Many banks let you complete the entire process online, uploading photos of your documents through their website or app. However, some banks still require you to visit a branch in person to verify your ID. Check with your bank before you start—if they require a branch visit, you can usually schedule an appointment online.

What if I do not have an EIN yet?

You can get one for free from the IRS website in minutes. Go to irs.gov/ein, answer a few questions about your business, and you will receive your number immediately. You do not need to have registered your business with your state first. Some banks will let you open an account using your Social Security Number while you wait for your EIN to arrive, but most now require the EIN before they will open the account.

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

Not always. A business license is required by some cities and states for certain types of businesses, but many banks do not ask to see one. Your DBA filing (for sole proprietors) or Articles of Organization (for LLCs) is usually enough. If your city or state requires a license for your type of business, get it before you apply—the bank may ask for it.

What if I am opening the account for a business that does not exist yet?

You can get an EIN before your business is officially registered with your state, and some banks will open an account with just the EIN and your ID. However, most banks want to see at least a DBA filing or Articles of Organization. It is usually faster to register your business with your state first—most states let you file online and receive confirmation the same day—then open the bank account.

Can someone else open the account for me?

Only if they have legal authority to do so. For an LLC or corporation, this means they need to be listed in your Operating Agreement or Board Resolution as someone who can sign on behalf of the business. They will need to bring their own ID plus the document showing their authority. The bank will verify both before opening the account.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.