If your business has a DBA (doing business as) or assumed names, you will need to provide a certificate that shows the other name or names. Sole proprietor: You will need to present your Social Security number.Your business also may need to provide additional materials. #Do you need an ein for an llc licenseExamples include your state-issued driver’s license or passport, your business license or your partnership agreements. Opening a business bank account requires proof of identification for both you and your business. If you’re still unsure whether your business needs an EIN, refer to this checklist from IRS.gov and seek professional advice. A business formed as a limited liability company (LLC) may need an EIN, depending on whether it has employees. A sole proprietorship with no employees typically doesn’t require one. If you haven't filed for a tax ID number, you may still be able to open a business bank account with your personal Social Security number.ĭepending on your type of business, you may not need to apply for an EIN. The first thing you’ll need is an employer identification number - also called an EIN, FEIN or tax identification number. Opening a business checking or savings account can be simple and straightforward when you know what information you need to get started. In this article, you’ll learn what you need in order to open a business bank account and why having one is crucial for your business. Before opening one, be sure you understand what you need in order to start making deposits and getting the most from your account. With a business bank account, you can help protect yourself and your business. As a small business owner, it's important to keep your business and personal banking separate so you can monitor the profitability of your business and avoid mixing transactions.
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