Last updated November 5, 2026.
To open a business bank account for a new company, you need formation documents, an EIN for most entity types, government-issued photo ID, ownership details for each owner with 25% or more of the company, and a business address. The formation documents depend on your entity type.
The 25% ownership line comes from FinCEN's beneficial ownership rule. Chase sets it lower: it asks for details on every owner with 10% or more. These are the documents you need to open a business bank account, as banks commonly ask for them, by entity type.
LLC: articles of organization (some states call it a certificate of organization or certificate of formation), your operating agreement, and your EIN (single-member LLCs, see the tax ID note below).
Corporation (C corp or S corp): articles or certificate of incorporation, your EIN, bylaws, and a board resolution naming who can open the account.
Partnership: your partnership agreement (a certificate of limited partnership for an LP) and your EIN.
Nonprofit: articles of incorporation, your EIN, the IRS determination letter showing tax-exempt status, bylaws, and a board resolution.
Every entity also brings the same shared items. Bring a government-issued photo ID for each qualifying owner and the person who controls the account, the name, address, date of birth and ownership percentage of each qualifying owner, and proof of the business address. Chase asks for two forms of ID, one of them government-issued.
Two details trip up new companies. First, corporations, multi-member LLCs and partnerships generally need an EIN as their tax ID. Whether a single-member LLC can use an SSN or ITIN instead varies by bank, and the EIN guide covers what each path looks like.
Second, the age of your company changes the list. Chase asks LLCs, corporations and limited partnerships registered more than a year ago for proof of good standing, so keep a certificate of good standing on hand if your company is older than that.
Who it fits: Rho is a banking platform for US-incorporated businesses with either a US operating address or one business owner in the US with a valid Social Security number. Banks and fintechs each publish their own list, and the lists overlap more than they differ. Here is the one-screen version.
Entity type | Formation document | Tax ID | Entity-specific documents |
|---|---|---|---|
LLC | Articles of organization (also called a certificate of organization or formation) | EIN. Whether a single-member LLC can use an SSN or ITIN instead varies by bank | Operating agreement. Chase also asks LLCs registered more than a year ago for proof of good standing |
Corporation (C corp or S corp) | Articles or certificate of incorporation | EIN | Bylaws and a board resolution naming who can open the account. Chase also asks corporations registered more than a year ago for proof of good standing |
Partnership | Partnership agreement, or a certificate of limited partnership for an LP | EIN | Chase also asks limited partnerships registered more than a year ago for proof of good standing |
Nonprofit | Articles of incorporation | EIN | IRS determination letter showing tax-exempt status, bylaws and a board resolution |
Sole proprietor* | None, or a DBA or fictitious name certificate if you use a business name | SSN, ITIN or EIN, depending on the provider | Nothing beyond the shared items below |
*Shown for reference. Rho serves US-incorporated businesses only.
Every row also needs photo ID for each signer or partner, ownership details for each owner above the provider's threshold (commonly 25%), and proof of business address.
Requirements differ by provider, so confirm the final list with the one you apply to. The sole proprietor row is here for reference.
What do you need to open a business bank account? Documents by entity type
Requirements differ by bank, so treat these lists as what banks typically ask for, then check your bank's own list before you apply. They cover registered entities. The table above includes a sole proprietor row for reference.
Documents for an LLC
Formation document: articles of organization (some states call it a certificate of organization or certificate of formation), filed with your state.
EIN confirmation: the IRS notice that shows your EIN, such as CP 575 or Letter 147C.
Operating agreement, especially for multi-member LLCs.
Certificate of good standing for LLCs registered more than a year ago (Chase).
Government-issued photo ID for each qualifying owner and the person who controls the account.
Ownership information for each owner with 25% or more of the company (Chase: 10% or more).
Proof of business address: a physical address. Registered agent addresses and PO boxes are commonly rejected.
Documents for a C-corp or S-corp
Formation document: articles of incorporation (or certificate of incorporation), filed with your state.
EIN confirmation: CP 575 or Letter 147C.
Bylaws and a corporate resolution naming who can open the account and sign.
Certificate of good standing for corporations registered more than a year ago (Chase).
Government-issued photo ID for each qualifying owner and the person who controls the account.
Ownership information for each owner with 25% or more of the company (Chase: 10% or more).
Proof of business address, with the same registered agent and PO box caveat.
Documents for a partnership
Partnership agreement, signed by the partners. For a limited partnership, the certificate of limited partnership filed with your state.
EIN confirmation: CP 575 or Letter 147C.
Certificate of good standing for limited partnerships registered more than a year ago (Chase).
Government-issued photo ID for each qualifying owner and the person who controls the account.
Ownership information for each owner with 25% or more of the company (Chase: 10% or more).
Proof of business address.
Documents for a nonprofit
Formation document: articles of incorporation or a certified copy from your state.
EIN confirmation: CP 575 or Letter 147C.
Proof of tax-exempt status: documents from the taxing authority that verify your status, such as the IRS determination letter.
Bylaws and a board resolution naming who is authorized to sign.
Government-issued photo ID for each authorized signer.
Proof of business address.
Some banks also ask for an opening deposit; the amount varies by bank and account type.
Not sure which list applies? Your formation document tells you. Whatever your state filed is the entity type the bank will check against.
Business bank account requirements at Chase, Bank of America, Mercury, Bluevine and Relay
Every provider publishes its own checklist, and the details are where applications stall. Here is what each one says on its own pages.
| Provider | Owner threshold and ID | Address and other rules |
| Chase | Details for every owner with 10% or more. Two forms of ID, one primary or government-issued | LLCs provide one item from a list that includes articles of organization. LLCs, corporations and limited partnerships registered more than a year ago also need proof of good standing |
| Bank of America (LLC application) | Applicants must own at least 25%. SSN and date of birth for 25% owners and the controlling manager | Business must be formed in the U.S. and applicants must be U.S. based. Company address and phone must be valid and verifiable |
| Mercury | Government ID for one person with operating control and any owner with 25% or more. Formation documents and an EIN document | Formed and registered in the U.S. or a U.S. territory. Residential address works. Registered agent, P.O. box and UPS box addresses do not |
| Bluevine | Name, home address, date of birth, SSN and ownership percentage for each owner with 25% or more. A photo of a driver's license may be requested | Physical business address. Home address works. Registered agent addresses and P.O. boxes are not accepted |
| Relay | Government-issued ID for every owner with 25% or more. SSN for U.S. owners and a physical U.S. home address. EIN confirmation letter (CP 575) | A registered agent address as the legal address means a second operating address is required |
Bank of America declines the LLC application if documents do not arrive within 11 days. How these providers are compared: each row lists the owner threshold, ID, address and deadline rules the provider publishes, as of November 5, 2026. Providers are not ranked.
Formation documents, a tax ID and ID for the people behind the account show up at every provider. The differences are the ownership threshold (10% at Chase, 25% at Mercury, Bluevine and Relay, and 25% for Bank of America LLC applicants), which business addresses get rejected, and whether documents come with a deadline. Treat the checklist above as a starting point and the provider's own page as the final word.
On deposits, Relay states no opening deposit requirement, and Mercury states no minimum balance and no account opening fee. Chase and Bank of America publish no figure. If your company is already incorporated in the US, the Applying with Rho section below covers who it fits.
What information do you need to open a business bank account?
Applications ask for details as well as documents. Have these in one place before you start.
Legal business name, exactly as it appears on your formation document, plus any DBA or trade name
Entity type and state of formation
EIN, from your IRS confirmation letter (CP 575 or Letter 147C). If you do not have one yet, get it before you apply (how to get an EIN). The IRS issues EINs on its own site at no charge.
Physical business address. Providers commonly reject registered agent addresses and PO boxes.
Business phone number and industry, since applications ask what the company does
Owner and signer details: legal name, home address, date of birth, SSN and a photo ID for every person who will sign or who owns more than the provider's threshold (commonly 25%)
Ownership percentages, including anyone who owns the business indirectly through another entity (FinCEN's Customer Due Diligence Rule asks for owners at 25% or more plus one person who controls the business)
Expected activity: what the account will be used for and roughly how much money will move through it
An opening deposit, if the provider sets one. Amounts vary, so check the provider's page for the current figure.
What to do before you open a business bank account: form your entity, get your EIN, then apply
The order matters, because each document depends on the one before it. A bank can't verify an entity that doesn't exist yet, and the IRS won't issue an EIN to one either.
Form your entity. File your articles of organization or incorporation with your state. Keep the filed copy, because it is your formation document. Our guide to how to incorporate a startup walks through the filing.
Write your governing documents. Draft the operating agreement (LLC), bylaws (corporation), or partnership agreement. Some banks ask for these, and you need them anyway.
Get your EIN. Apply directly with the IRS, which issues EINs free of charge, through its EIN page. Save the confirmation notice (CP 575 or Letter 147C) for your records. Our guide to how to get an EIN covers the steps.
Gather IDs and ownership details. Collect a government photo ID for each signer and the names, addresses, and ownership percentages of each owner above the provider's threshold (commonly 25%).
Open the account. Apply with a bank or banking platform, using the same legal name and address that appear on your formation document and EIN notice.
Use the same legal name and address on your application that appear on your formation document and EIN notice. Banks check them against each other, and a mismatch can slow things down. Still comparing options? Our guide to the best business bank accounts lays out what to look for.
How requirements vary by provider type
The document list looks similar whether you're applying at a 150-year-old bank or a five-year-old fintech. Where things actually diverge is in what satisfies each requirement, and who gets an account at all.
Provider type | Traditional bank | Fintech |
|---|---|---|
EIN documentation | Required at application in most cases; a few allow sole proprietors to substitute an SSN | Varies by provider |
Entity types served | Sole proprietorships, LLCs, corporations, and partnerships | Varies by provider; some serve only incorporated businesses |
Where you apply | Online or in a branch | Fully online |
Rho is a banking platform for US-incorporated businesses. The next section covers who it fits.
Common mistakes that slow an application down
Assuming a sole proprietorship needs no paperwork. If you operate under a name other than your own, banks that open sole proprietor accounts typically ask for a DBA or fictitious name certificate.
Waiting on the mailed EIN letter. The IRS issues the EIN immediately once an online application is approved, and the online application is available if your principal place of business is in the US or a US territory and your responsible party has an SSN or ITIN. Apply online, then bring the confirmation to your bank application.
Missing a beneficial owner because they're under 25% on paper but linked through another entity. FinCEN's ownership calculation can require looking through holding structures, not just the cap table on its face.
Business address mismatch. If the address on your formation documents doesn't match what you list on the application, expect a manual review delay.
Applying with Rho
Rho is a banking platform for US-incorporated businesses. Eligibility starts with two things: a US-incorporated entity, plus either a US operating address or one business owner in the US with a valid Social Security number.
To apply, have your articles of incorporation and your EIN ready, plus ownership details for each owner with 25% or more. If no one owns 25%, Rho asks for the person who exercises substantial control. No EIN yet? The EIN guide walks through your options.
If you are still deciding on a structure, form the entity first, then come back with the documents above.