How can you open a US Bank Account?
Running a new business requires the right bank account. Opening a business bank account allows you to separate your personal and business finances, stay organized, and manage your finances effectively. It’s important to prepare and understand the process, the documents required, and where to apply for your business bank account.
Documents Required for a US Business Bank Account
To open a business bank account with Startxpress, you need to provide:
- Company Formation Documents: Provided by Startxpress.
- EIN (Employer Identification Number): Provided by Startxpress.
- Valid International Passport (for non-US residents) or Government ID (for US residents).
Company Formation Documents: Banks require specific documents based on your business entity type and state of establishment:
- Corporations: Articles of incorporation, corporate bylaws.
- Limited Liability Company (LLC): Articles of organization, LLC operating agreement.
- Partnerships: Partnership agreement, state certificate of partnership, business name registration certificate.
- Sole Proprietorships: EIN and company name registration certificate.
- Startups: Organizational documents, personal or business identification.
Ensure to review bank instructions carefully as requirements may vary.
Employer Identification Number (EIN) or Social Security Number (SSN): Most banks require an EIN to open a business account. Sole proprietors may use their SSN for small business accounts.
If you need an EIN, Starxpress can help you to get one!
Personal Identification Documents: For US residents, provide a government-issued photo ID (e.g., driver’s license); for non-residents, a valid passport. Include personal details and identification for all owners with 25% or more ownership.
By preparing these documents and understanding the requirements, you can streamline the process of opening your business bank account with Startxpress.
For further insights, explore the Startxpress Help Center and Blog. If you have questions or need support, reach out anytime at support@startxpress.io!
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