Opening a US Bank Account

About US Corporate Bank Account Opening Procedures

Updated October 19, 2020

Many of our customers want to know what steps are involved in obtaining a US bank account in the name of their company. Bank procedures vary, but the following information can familiarize you with the process.

Summary of Requirements to Open a Business 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.
• Despite these differences, there are a few things you can be sure the bank will request:
  • Articles of Incorporation or Articles of Formation
  • Passport of the person authorized to open the account
  • Employer Identification Number (EIN) - Allow 4-6 weeks prior to traveling to the United States
  • Certificate of Good Standing
  • Banking Resolution
  • Proof of US physical address 
  • Most banks in the United States require an "in person" visit by at least one signer. Travel is REQUIRED.
• 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 have the most success with large, international banks, i.e. Wells Fargo, HSBC, JP Morgan Chase, Citigroup, and Bank of America. All of these banks have branches in New York City, NY.

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

• Did you know your Delaware LLC or Delaware Corporation 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.

Contacting Your Bank

• We suggest contacting the bank of your choice to verify their particular requirements before registering your new company.
• We recommend asking the following questions when interviewing a bank:
  • Will I be required to come in person to open the bank account?
  • Will my Delaware company be required to show a Certificate of Authority (foreign qualification) or other proof of qualification in the state or country where this bank branch is located?
  • Will my business be required to provide a Delaware business address? Will proof of Address be required; if so, what are the acceptable forms of proof?
  • What documents will you require me to produce?
  • Certificate of Formation (also known as Certificate of Incorporation, Articles of Incorporation, Articles of Organization)
  • Do you accept a plain copy?
  • Do you require a Certified Copy of this document?
  • Do you require an Apostille on this document? (Does not apply inside US)
  • Certificate of Good Standing
  • Do you accept an Email or Fax copy?
  • Do you require an Apostille on this document? (Does not apply inside US)
  • LLC Operating Agreement or corporation Bylaws
  • Do you require a Notarized copy?
  • Do you require an Apostille on this document? (Does not apply inside US)
  • Resolution naming the officers, members or owners of a company
  • Do you accept a resolution signed by the Incorporator as Authorized Agent?
  • Do you require a Power of Attorney? or a Certificate of Incumbency? (May not apply inside US)
  • Do you require a Notarized copy of the document?
  • Do you require an Apostille on this document? (Does not apply inside US)
• Most banks around the US and around the world are familiar with the documentation issued to Delaware Corporations and Delaware LLCs.
• 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:
  • What authority issues the document? (i.e. Secretary of State, Board of Directors, Registered Agent)
  • Who executes (signs) the document?
  • Is the document notarized or authenticated by the Secretary of State or other official?
  • Is the document required to be translated? If so, is the translation required to be certified by the translator/Notary?
  • 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.

Obtaining an Employer Identification Number (EIN)

• An Employer Identification Number (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.
• To expedite the issuance of an EIN for a foreign entity, please call (267) 941-1099. This is NOT a toll-free call. The hours of operation are from 6:00 a.m. to 11:00 p.m. Eastern Standard Time. The office is open Monday through Friday only. We recommend setting aside at least one hour of your time. The earlier you call the better!

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.

Included in all incorporating services:

• Company Name Check Verification & Availability
• Preparation & Filing of Articles of Formation
• Same Business Day Processing
• Registered Agent (1st Year FREE)
• Email Reminders & Alerts
• Lifetime Customer Support