BUSINESS ACCOUNTS
Federal regulations require that every financial institution identify individuals opening an account to help the government stop terrorism, money laundering and other criminal activity. An “account” is defined as any formal banking relationship related to ongoing services, dealings or transactions.
Items needed to open a new business account (Member must have all documents before we can open account):
One primary form of identification and one secondary form of identification for each individual who is named in a resolution or similar legal document as having the authority to make decisions on behalf of the business. This would also apply to the individuals who will be listed on the Account Agreement as having signing authority on the account.
Primary and secondary forms of identification are:
Unexpired State/ Government Issued Photo Identification
Social Security Card
Business Types and Documents Required
Sole Proprietorship
Assumed Name Certificate/DBA
EIN number (Member can only use SSN if business has no employees. Be sure to ask)
Other Business Types and Documents Required
Partnership
Partnership Agreement
Assumed Name Certificate
EIN Number (Required by IRS for all Partnerships)
Corporation
Corporate Resolution (Provided by the Company)
Certificate of Filing (Filed with Office of the Secretary of State)
Assumed Name Certificate
EIN Number for Corporation (Required by the IRS)
Limited Liability Company
LLC Resolution
Certificate of Filing (Filed with the Office of the Secretary of State)
LLC EIN (Required by IRS)
Assumed Name Certificate