Hey everyone, I'm finally taking the plunge and opening a business bank account for my LLC. I've heard banks can be picky about documents. What exactly should I have ready before I walk in? I want to avoid a second trip. Thanks!
Banking
What paperwork should I prepare before opening an LLC bank account?
you'll definitely need your Articles of Organization and EIN. Some banks also want an operating agreement, even if your state doesn't require one. And don't forget your ID and maybe a utility bill for address proof.
Haha, be prepared for them to ask for your firstborn too. Seriously, every bank is different. Just call ahead and ask for their checklist. Saved me a headache.
I second calling ahead. When I opened mine, they wanted the EIN letter, articles, operating agreement, and a resolution authorizing the account opening. I didn't have the resolution and had to come back.
This might be overkill, but bring everything. I brought my LLC formation docs, EIN, driver's license, and a recent bank statement from my personal account. They only needed the first three, but better safe.
Yeah, and if you're a single-member LLC, some banks might treat you as a sole prop and not require as much. But it varies. Just ask.
Oh,and make sure the name on your EIN matches the LLC name exactly. I had a mismatch because I used a DBA and it was a mess.
Also, if you have multiple members, bRing the operating agreement and maybe a meeting minutes showing approval. They want to see who's authorized.
Thanks, all. I'll call the bank and get get their checklist. Appreciate the tip about the resolution and name match.