Opening a business bank account with an EIN.

Oct. 19, 2025, 8:29 a.m.
What You Need to open a business bank account using an EIN, most banks require
bank account with an EIN

To open a business bank account using an EIN, most banks require:

  • EIN (Employer Identification Number): Issued by the IRS (Form SS-4).

  • Business formation documents:

    • LLC → Articles of Organization

    • Corporation → Articles of Incorporation

    • Partnership → Partnership Agreement

    • Sole Proprietorship → May just require a DBA (Doing Business As) certificate if operating under a trade name.

  • Personal identification: Government-issued ID (driver’s license or passport).

  • Operating Agreement or Bylaws (for LLCs and corporations).

  • Business license or permit (if applicable).

2. Why an EIN is Required

  • Banks use the EIN to identify your business for tax purposes.

  • The EIN separates your personal finances from business finances.

  • It’s required if your business has employees or is a partnership or corporation.

3. Steps to Open the Account

  1. Obtain your EIN from the IRS (online application is fastest).

  2. Choose the bank: Compare fees, online banking options, and account features.

  3. Gather required documents (listed above).

  4. Visit the bank or apply online: Many banks allow online business account setup.

  5. Complete signature cards and agreements: The bank will verify authorized signers.

  6. Deposit initial funds: Minimum deposit varies by bank.

  7. Set up online banking and business debit/credit cards.

4. Tips for Success

  • Ensure your business name matches IRS records to avoid delays.

  • Keep personal and business finances strictly separate to simplify taxes.

  • Consider multiple accounts for different purposes (operations, taxes, payroll).

  • Ask about fees, transaction limits, and online banking tools.