How to Open a Business Account

Sole Proprietor

An individually owned and operated unincorporated business, using a personal Social Security Number for tax reporting, and maybe having a DBA (Doing Business As) designation.

Documents required to open this account are:

  • A valid government issued photo ID for the owner and all authorized signers
  • Social Security Number of owner, and all signers/users
  • A certificate of sole proprietorship
  • A certificate of assumed name (filed with the county recorder’s office) if a DBA (Doing Business As)

Partnership

An unincorporated business, with two or more persons sharing profits and losses and making joint decisions for the company, using a TIN (Tax ID Number) in the business name.

Documents required to open this account are:

  • A valid government issued photo ID for all partners and authorized users
  • Social Security Number for all partners
  • A partnership authorization
  • A certified copy of the certificate of existence (issued by the Secretary of State’s office)
  • Or a certificate of assumed name (filed with the county recorders office) if a DBA (Doing Business As)

Corporation

A separate legal entity, distinct from the individuals who make it up. Officers elected and listed in the minutes of the Board of Directors meeting. Uses a TIN (Tax ID Number) issued in the name of the corporation.

Documents required to open this account are:

  • A valid government issued photo ID and social security number of the officer opening the account, as well as any authorized signers on the account.
  • Corporate authorization resolution
  • A certified copy of the certificate of existence (issued by the Secretary of State’s office)

Limited Liability Corporation

An unincorporated organization. Members of an LLC are not personally liable for its debts and liabilities unless they have signed a personal guarantee. LLCs have the limited liability of a corporation and gain the advantage of being taxed as a partnership, using a TIN (Tax ID Number) in the company’s name.

Documents required to open this account are:

  • A valid government issued photo ID for all authorized signers on the account and social security numbers of all users
  • A limited liability company resolution
  • A certified copy of the certificate of existence (issued by the Secretary of State’s office)

Association/Organization/Club

Account may be in the name of an informal social club, religious organization,charitable organization or other group using a TIN (Tax ID Number) issued in the name of the association.

Documents required to open this account are:

  • A valid government issued photo ID for all authorized signers on the account and social security numbers of all users
  • An unincorporated organization resolution