Open Bank Account With Ein

Not all banks require an ein however many do.

Open bank account with ein. This includes your business partnership agreement and any other organization documents that you may have prepared when you formed your partnership. Another option is to open a company in the united states and get a corporate bank account. To open a business bank account you ll need your federal employer identification number ein and a copy of your articles of organization. An employer identification number ein also known as a federal tax identification number is a set of nine unique digits that enables the internal revenue service irs to identify your company as an operating entity within the united states of america.

This is true for many other financial services as well such as applying for credit. In order to establish a business bank account your company must have an ein employer identification number to identify your business with the irs internal revenue service. The best way to determine whether your bank requires an ein to open a bank account for your business is to contact the bank directly. When you incorporate an us company it will have an ein which is the ssn for companies roughly speaking.

Most financial institutions require an ein for opening a business account. The price is incredibly affordable. An ein is not enough documentation to open a business account. To prove this bring your company s articles of incorporation which is sometimes called the certificate of incorporation certificate of existence certificate of formation or charter.

Not only does opening an llc business bank account make life easier it also helps you maintain personal liability protection which is the main reason people form llcs. An ein can not be used to open a personal banking account only business. This option is especially convenient for those who do business and get online payments with companies in the usa. One way to do this is to establish a business bank account.