You need a business license or registration, an Employer Identification Number (EIN), and a personal ID to open a business account
Most banks require three core pieces of documentation: proof that your business exists as a legal entity, a tax identification number, and personal identification for the owner or authorized signer. The exact documents depend on your business structure — a sole proprietorship needs different paperwork than an LLC or corporation — and the specific bank you choose. Some banks will let you start the process online; others require an in-person visit.
The timeline matters too. Getting an EIN from the IRS takes minutes if you apply online, but obtaining a business license from your city or state can take weeks. Plan ahead so you are not waiting on paperwork when you are ready to deposit your first check.
Key Takeaways
- You will need your business license or registration certificate, your EIN, and a government-issued photo ID for the owner or authorized signer.
- Sole proprietors can sometimes use their Social Security Number instead of an EIN, but most banks prefer an EIN even when it is optional.
- LLCs and corporations must provide articles of organization or incorporation, which you receive from your state when you register the business.
- Some banks require a business address that is different from your home address, while others accept a home-based business with no restrictions.
- Bring your original documents or certified copies — banks will not accept photos or digital scans for the initial account opening.
Documents Required by Business Structure
Sole proprietors typically need the fewest documents. You will need a government-issued photo ID (driver's license or passport), proof of your business name if you are operating under a name other than your own (called a DBA or "doing business as"), and either an EIN or your Social Security Number. Many sole proprietors use their SSN for tax purposes, but banks often request an EIN anyway because it separates personal and business finances more clearly.
LLCs and partnerships require your articles of organization or partnership agreement, which your state issues when you register. You will also need an EIN (the IRS does not allow LLCs to use a Social Security Number), a photo ID for each owner or the person authorized to sign on the account, and proof of your registered business address. Some states mail these documents; others make them available online through your secretary of state's website.
Corporations need articles of incorporation from your state, an EIN, bylaws or a corporate resolution authorizing the account opening, and photo IDs for the owner and any authorized signers. A corporate resolution is a simple document stating that the board has approved opening a bank account; your bank can provide a template or your accountant can draft one.
Getting an EIN Before You Open Your Account
An Employer Identification Number is a nine-digit tax ID issued by the IRS. You need one if your business is an LLC, corporation, partnership, or S-corp. Sole proprietors can use their Social Security Number, but obtaining an EIN is free and takes about five minutes online.
Apply at the IRS website (irs.gov) under "Apply for an EIN." You will answer questions about your business structure, location, and the type of work you do. The IRS issues your number immediately, and you can print a confirmation letter on the spot. Some banks will accept the printed confirmation; others want the official IRS letter mailed to you, which takes about two weeks. Ask your bank which form they prefer before you apply.
If you do not have an EIN yet and your bank requires one, you cannot open the account until you have it. Do not wait until you are ready to deposit money — apply as soon as you have registered your business with your state.
Personal Identification and Ownership Verification
Every person authorized to sign on the account must bring a government-issued photo ID. A driver's license, passport, or state ID card all work. The bank will copy or scan it as part of their identity verification process.
If you are opening the account on behalf of someone else (for example, if you are a business manager but not the owner), you will need a document showing you have authority to act on the business's behalf. This might be a power of attorney, a corporate resolution, or a letter from the owner on business letterhead. Ask your bank what they accept before you go in.
Banks are required by federal law to verify the identity of anyone opening an account. This is called Know Your Customer (KYC) compliance. It protects both you and the bank from fraud.
Business Address and Proof of Location
You will need to provide a business address. If your business operates from a physical location — an office, storefront, or warehouse — bring a recent utility bill, lease, or property deed showing that address. If you work from home, some banks accept your home address with no additional documentation. Others require a mailbox rental agreement or a virtual office address.
Call your bank before you visit to ask their policy on home-based businesses. Some large national banks are strict about this; smaller community banks and credit unions are often more flexible. If your bank will not accept a home address, you have options: rent a mailbox at the post office or a private mailbox service, or use a virtual office service that provides a business address for mail and calls.
What to Bring to Your Bank Appointment
| Document Type | Sole Proprietor | LLC or Partnership | Corporation |
|---|---|---|---|
| Photo ID (owner/signer) | Yes | Yes | Yes |
| Business License or DBA | If operating under a name other than your own | Yes | Yes |
| Articles of Organization or Incorporation | No | Yes | Yes |
| EIN or confirmation letter | Optional but recommended | Yes | Yes |
| Proof of business address | If not home-based, or if bank requires it | Yes | Yes |
| Corporate resolution or power of attorney | No | Only if signer is not the owner | Yes |
Bring originals or certified copies. Banks will not accept photocopies, photos of documents, or digital scans for the initial account opening. If you do not have a certified copy, ask your state or the issuing agency how to get one — it usually costs a small fee and takes a few days.
What Happens After You Submit Your Documents
The bank will review your documents for completeness and verify your identity. This process usually takes a few minutes to a few hours if you are opening the account in person. If you are opening online, the bank may ask follow-up questions by email or phone, and approval can take one to three business days.
Once your account is open, you will receive a debit card, checks, and online banking access. Some banks offer these immediately; others mail them within a week. Ask when you can expect each item so you are not caught off guard if you need to make a payment right away.
Frequently Asked Questions
Can I open a business account without an EIN if I am a sole proprietor?
Yes, you can use your Social Security Number instead. However, most banks prefer an EIN because it keeps your personal and business finances separate and is simpler to manage. Since getting an EIN is free and takes five minutes online, it is worth doing even if your bank does not require it.
What if I do not have a business license yet?
Some banks will open an account for a sole proprietor with just a photo ID and an EIN, even without a formal business license. However, LLCs and corporations must have their articles of organization or incorporation on file with the state before any bank will open an account. Check with your bank about their specific requirements before you register your business.
Do I need to bring original documents or can I send copies by mail?
Banks require originals or certified copies for the initial account opening. If you are opening the account in person, bring the originals. If you are opening online, the bank will tell you whether to mail certified copies or upload them through their secure portal. Do not send originals by regular mail — use certified mail or hand-deliver them.
What if I want someone else to be able to sign on my business account?
That person will need to bring their own government-issued photo ID and sign the account authorization form. If they are not the owner, you will also need to provide a document showing they have authority to act on the business's behalf, such as a power of attorney or a letter from the owner. The bank will explain what they need during the account opening process.
How long does it take to open a business account?
In-person account openings usually take 15 to 30 minutes if you have all your documents. Online account openings can take one to three business days for approval. The longest wait is usually getting your documents from the state — a business license or articles of organization can take two to four weeks depending on your state and how you file.