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An LLC bank account is a business account in the company's name. Open it after the state approves your LLC and the IRS has given you an EIN. The sequence matters because the bank will ask for proof of both.
What the SBA says banks ask for
The SBA business bank account page says banks typically request:
- an Employer Identification Number (EIN), or a Social Security number if you are a sole proprietorship;
- your business's formation documents;
- ownership agreements;
- a business license.
The SBA adds that some banks may ask for more. Call or visit the bank you choose and ask for its list before you go. We do not name banks or compare their fees.
Get each item ready
EIN. If you do not have one, see how to get an EIN and EIN for an LLC. The IRS says an LLC with two or more members is classified as a partnership by default, while one with a single member is disregarded as separate from its owner, per its LLC page. Single member LLCs still often get their own EIN, because the IRS says they must use one for employment taxes.
Formation documents. This is the filing the state approved, such as articles of organization or a certificate of formation. The name differs by state. Download a copy from your state's records. Our LLC lookup shows where.
Ownership agreement. Your operating agreement shows who owns what and who can sign. A bank that sees several members will want to know who has authority. Make sure the agreement names that person.
Business license. Required items differ by city and state. If you have one, bring it. If your state asks for none, say so.
Some banks also ask for a certificate from the state that the LLC is active. See certificate of good standing. We cannot say which banks require it.
Why a separate account matters
The SBA says business banking offers limited personal liability protection by keeping your business funds separate from your personal funds. It also lists benefits such as accepting card payments, writing checks in your business name, and access to credit that can help build business credit history.
Put all company income in this account. Pay company costs from it. Do not pay personal bills from it. Clean records also make tax time simpler.
Non-residents
If you live outside the US, banks set their own rules for who can open an account. Read the non-resident bank account guide and the page on LLCs for non-residents. Ask each bank directly, because policies differ and change.
A short checklist
- State approval of the LLC.
- EIN letter from the IRS.
- Signed operating agreement.
- Photo ID for each person who will sign.
- A business license, if you have one.
This page is general information, not legal or tax advice.
To form the company first, go to /start-an-llc/.