Before you open a business bank account, you should have the following documentation prepared:
Articles of incorporation, Business license, Doing business as (DBA) certificate, Employer identification number (EIN), Identification documents daftar slot online. “There are various factors business owners should consider when opening a business bank account,” said Rampenthal. “It’s essential to prepare all necessary documents from the get-go in order to facilitate a painless process.”
Here’s more information about each of the documents you’ll need to open a business bank account. Articles of incorporation, Your articles of incorporation show the bank how your business is structured, and you use these legal documents to register your business with the state and other entities game judi slot.
“If you form a business as an LLC, limited partnership, corporation or other separate legal entity, to open a bank account, you will need the articles of incorporation that you filed with the state if you are the sole owner,” said Tiffany Wright, president of The Resourceful CEO, a financing advisory firm for small and midsize businesses, and project director at Cogent Analytics.
Rampenthal said that banks will likely ask for your current business license to prove you are legally permitted to conduct business in your region.
“This also ensures that your business is accountable for all actions taken – including taxes and finances,” he said. “Check with your state, county and local governments to determine if you need any licenses to operate your business.”
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Doing business as (DBA) certificate
A DBA, often referred to as a “fictitious name,” allows you to conduct business “like marketing or advertising, or accept money, under a name that differs from the existing name of your business,” said Deborah Sweeney, CEO of MyCorporation.
Sweeney added that most banks require a certified copy of a DBA to open a business bank account, since entrepreneurs aren’t allowed to use their personal bank account under their business name.
“Filing for a DBA allows entities to do business under another name without having to form a new organization,” Sweeney said. “For example, imagine an entrepreneur named Tom Johnson. Tom is a sole proprietor who runs his own business and wants to open up a sandwich shop called Subs ‘n Chips. Tom wants this business to operate under the Subs ‘n Chips name and not under his own name, Tom Johnson. As such, he would need to register for a DBA so he could do business under this name, including accepting and signing checks made out to and on behalf of Subs ‘n Chips.”