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Article: Opening a Bank Account

This article provides general information about the process of opening
a corporate bank account, inlcuding a discussion of what documentation your bank will require to open the new account...Plus a helpful bank interview worksheet available for free download.

About Bank Account Opening Procedures

Disclaimer: The following article is intended to provide general information about the process of opening a bank account and is for informational purposes only. It is not intended to replace the advice of an attorney or tax accountant and does not constitute individualized legal advice, legal service, or tax advice. Click here to read full disclaimer…

Many of our customers want to know what steps are involved in obtaining a bank account in the name of their company. Procedure varies, but the following information can familiarize you with the process. Please do not hesitate to contact an Incorporation Specialist if you have questions about how to open a bank account for your Delaware LLC or Delaware Corporation. One of our Incorporation Specialists would be happy to answer your questions by phone 1-800-423-2993 or by chat. Incorporation Specialists are available Monday through Friday, 8:30am-5:00pm US EST, or you can send us an email at any time.

Summary of Requirements to Open a Bank Account in the US

You may be surprised to learn US banks do not all have the same policies to open a business bank account (aka corporate bank account or commercial bank account)! Despite these differences, there are a few things you can be sure the bank will request: Articles of Incorporation, photo identification of the person authorized to open the account, and an EIN. Other documents the bank is likely to request include a Certificate of Good Standing, and a Banking Resolution. Some US banks will also request proof of address. Some US banks may request the By-Laws or Operating Agreement. Unless you have an existing account with the bank, US banks will require the account-holder to come in person to open the account. It is always a good idea to contact the bank branch in advance of your visit to find out what documents they will require, as requirements vary from branch to branch. You will find more information about each of these requirements following the next section.

Summary of Requirements to Open a Bank Account in the name of your Delaware LLC or Delaware Corporation outside the US

Did you know your Delaware Corporation or Delaware LLC can bank anywhere in the world? If you are not interested in banking in the US we suggest you contact a reputable international bank with a branch conveniently located near you to learn what their requirements will be to open a business bank account (also known as Corporate account or Commercial account). Typically, a bank located outside the US will require Articles of Incorporation, By-laws or Operating Agreement and Certificate of Incumbency or Power of Attorney. You can also expect the bank to require at least one of the documents to bear an Apostille or to be legalized by the consular office in Washington, DC. All of our International Incorporation and LLC Formation service packages include an Apostille or Gold Seal Authentication on the Certificate of Incorporation. If you will not have a US Source of Income, will not be banking in the US and will not have employees in the US, you are not likely to need an EIN.
We suggest contacting the bank of your choice to verify their particular requirements before registering your new company. If you would like a referral to a bank in the United States, please contact us and we would be happy to give you the contact information of several excellent banks which do business in Wilmington, Delaware and abroad.

We recommend asking the following questions when interviewing a bank (these questions are available for download as a free interview worksheet for your convenience):
  1. Will I be required to come in person to open the bank account?

  2. Will my Delaware company be required to show a Certificate of Authority or other proof of qualification in the state or country where this bank branch is located? (1)

  3. Will my business be required to provide a Delaware Address?(2) Will proof of Address be required; if so, what are the acceptable forms of proof?

  4. What documents will you require me to produce?(3)
    1. Certificate of Formation (also known as Certificate of Incorporation, Articles of Incorporation, Articles of Organization)
      1. Do you accept a plain copy?
      2. Do you require a Certified Copy of this document?
      3. Do you require an Apostille on this document? (Does not apply inside US)

    2. Certificate of Good Standing
      1. Do you accept an Email or Fax copy?
      2. Do you require an Apostille on this document? (Does not apply inside US)

    3. Operating Agreement or Bylaws
      1. Do you require a Notarized copy?
      2. Do you require an Apostille on this document?(Does not apply inside US)

    4. Resolution naming the officers, members or owners of a company
      1. Do you accept a resolution signed by the Incorporator as Authorized Agent?
      2. Do you require a Power of Attorney? or a Certificate of Incumbency? (May not apply inside US)
      3. Do you require a Notarized copy of the document?
      4. Do you require an Apostille on this document? (Does not apply inside US)
Tip: Most banks around the US and around the world are familiar with the documentation issued to Delaware Corporations and Delaware LLCs. If your bank representative is not, DBI can provide samples. If the bank representative is not satisfied by the documents included with the purchase of your incorporation package, ask for their documentation requirements in writing, including the following:
  1. What authority issues the document? (i.e. Secretary of State, Board of Directors, Registered Agent)
  2. Who executes (signs) the document?
  3. Is the document notarized or authenticated by the Secretary of State or other official?
  4. Is the document required to be translated? If so, is the translation required to be certified by the translator/Notary?
  5. Ask the bank to provide a sample if possible
An Incorporation Specialist can then assist you in obtaining the necessary documents and will notify you in advance if any additional fees apply for the special documentation.

Registering Your Company

After contacting your bank, DBI can handle all aspects of creating and registering your new company in Delaware or any other state.
For general information about forming a new company, see the article “Understanding New Company Formation, Made Easy” in the Learning Center.

Obtaining an EIN

An EIN, aka Corporate Federal Taxpayer ID Number, is a nine-digit number that the IRS assigns to business entities including corporations, LLCs and not-for-profit organizations. All US banks will require your company to provide an Employer Identification Number (EIN) to open a bank account, even if the company will have no employees. If you will be opening your bank account outside the US, and will not have employees in the United States, it may not be necessary for your company to obtain an EIN. DBI can obtain EINs for US-based companies and for Delaware Corporations and Delaware LLCs owned by non-resident non-citizens. See the Employer Identification Number (EIN) of the Learning Center for more information.

Plain Copy: The "plain copy" shows the filing stamp of the Division of Corporations but is not issued under the seal of the Secretary of State.
Articles of Incorporation/Articles of Organization: Known as a "Certificate of Incorporation" or "Certificate of Formation" in Delaware.
Certified Copy: A Certified Copy is a reproduction of an official document filed with the Secretary of State bearing the Secretary's stamp and Seal.
  1. If your bank requests a Certificate of Authority, DBI can assist you with qualifying your Delaware company in another state. We also offer formation in all 50 states. Contact one of our Incorporation Specialists for more details.
  2. DBI can provide a Delaware address at the Capitol Office Center with mail forwarding. The address comes standard with the International Platinum Package or can be ordered separately. Whether or not you purchase a Delaware address with your new company depends on personal preference and the policy of the bank you have selected to open your account.
  3. With the exception of the Power of Attorney, DBI can help you obtain the documents listed under interview question number four. Some of the listed documents are included in the new company formation packages, others can be ordered for an additional fee. Contact one of our Incorporation Specialists for more details.
  4. Although the process can usually be completed in about an hour, and rarely requires more than 24 hours, the IRS does not offer a guaranteed time frame for processing an application for an EIN. Orders will be processed on a best efforts basis and are subject to IRS guidelines.

Disclaimer: The following article is intended to provide general information about the process of opening a bank account and is for informational purposes only. It is not intended to replace the advice of an attorney or tax accountant and does not constitute individualized legal advice, legal service, or tax advice. No representations or warranties, express or implied, are given regarding the legal, tax or other consequences resulting from the use of our services, including but not limited to information and/or forms. The information supplied by DBI is supplied only with the understanding that DBI and its employees, agents and/or representatives are not engaged in rendering legal services, legal advice, or tax advice. DBI expressly disclaims any liability, loss or risk incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this information.



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Delaware Business Incorporators, Inc.
3422 Old Capitol Trail - Suite 700 | Wilmington, Delaware 19808-6192 USA
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Incorporate in Delaware or form a Delaware LLC with Delaware Business Incorporators, Inc. To incorporate, call toll-free 1-800-423-2993.

Delaware Business Incorporators is a document filing service and CANNOT provide you with legal or financial advice. The information on this website is designed to provide accurate and authoritative information in regard to the subject matter covered. It is presented with the understanding that Delaware Business Incorporators is not engaged in rendering legal, accounting or other professional services. If legal advice or tax advice is required, the services of an attorney or tax advisor should be sought. Terms and conditions, pricing and service options subject to change without notice.
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