Opening a Business Bank Account for Your LLC: What Documents You Need
By Manna One Solution · Published October 19, 2026 · Updated October 19, 2026
To open a business bank account for an LLC, you usually bring the Certificate of Formation from the state, the IRS EIN confirmation letter, the Company Agreement, and photo ID for the person signing. Under FinCEN's CDD (Customer Due Diligence) rule, the bank must verify everyone who owns 25% or more of the company and one person who controls it. Each bank may ask for more.
Key takeaways
- Bring the Certificate of Formation, EIN letter, Company Agreement and photo ID.
- The bank must verify everyone owning 25% or more and one control person.
- Keep personal and company money apart to protect the LLC's separation.
Why the LLC needs its own account
- It protects the LLC's separation. An LLC keeps personal assets apart from company debts, but mixing personal and company money makes it easier for creditors or a court to ignore that separation.
- Cleaner books and taxes. Every company dollar in and out sits in one place, so your tax preparer works faster and more accurately.
- Customers trust it more when they pay an account in the company's name.
What the bank verifies
The CDD rule is FinCEN's requirement that banks identify and verify the people behind a business account. According to FinCEN's CDD Rule FAQs (page updated May 6, 2026):
- Ownership: each individual who directly or indirectly owns 25% or more of the LLC.
- Control: one individual with significant control, such as a managing member or chief executive.
- A company has between one and five such people. If nobody owns 25%, the bank still verifies the control person.
- Banks may generally rely on what the company tells them unless something suggests it's wrong.
So if an LLC has three members at 33% each, all three bring ID.
Documents banks commonly ask for
| Document | Where it comes from |
|---|---|
| Certificate of Formation | The Secretary of State, after approving Form 205 (in Texas) |
| EIN confirmation letter | Printed when you apply online, or mailed by the IRS |
| Company Agreement | Written and signed by the members |
| Photo ID | Driver's license, state ID or passport of each 25% owner and the control person |
| DBA certificate (if trading under another name) | Assumed Name Certificate |
| Opening deposit | Set by the bank |
No EIN yet? See How to Get an EIN for Your LLC.
Can an owner in Vietnam open one?
At some institutions, but it's harder. Many traditional banks require the signer at a branch, and some don't accept owners without an SSN. Some online banks and financial services accept foreign owners, on terms that vary by provider. Ask the bank before you apply. See also Forming a U.S. LLC from Vietnam.
How to choose a bank
- FDIC insurance: according to the FDIC, deposits are insured up to $250,000 per depositor, per insured bank, for each ownership category. Check that the bank is an FDIC member.
- Monthly fees and the minimum balance that waives them.
- Free transactions and cash deposit fees (they add up for nail salons and restaurants).
- Card acceptance, Zelle and ACH, and connections to your point-of-sale or accounting software.
- A nearby branch if you deposit cash often.
After the account is open
- Use it only for the company, never for personal bills.
- Keep invoices and receipts for every expense.
- Track report and tax deadlines: What to Do After Forming a Texas LLC.
Want the paperwork ready before you go?
Manna One Solution prepares your LLC document set (Certificate of Formation, EIN letter, a Company Agreement template) and walks you through it before your bank visit, in English or Vietnamese, online across the U.S. We are not a bank or a law firm, and we can't guarantee that a bank will approve an account.
Sources
- FinCEN: CDD Rule FAQs (updated May 6, 2026; checked October 19, 2026)
- FinCEN: CDD Final Rule (checked October 19, 2026)
- FDIC: Deposit Insurance At A Glance (checked October 19, 2026)
- IRS: Get an employer identification number (checked October 19, 2026)
Frequently asked questions
What documents do I need to open an LLC bank account?
Usually the Certificate of Formation, the EIN confirmation letter, the Company Agreement, and photo ID for each 25% owner and the control person. Banks may ask for more.
Why does the bank want information on every member?
FinCEN's CDD rule requires banks to verify each person who owns 25% or more and one person who controls the company.
Can I use my personal account for the LLC?
You shouldn't. Mixing personal and company money muddles the books and can weaken the LLC's protection of your personal assets.
Can I open a business bank account without an SSN?
It depends on the bank. Some require an SSN or a branch visit; some online banks accept foreign owners.
Is money in an LLC account insured?
At an FDIC-member bank, deposits are insured up to $250,000 per depositor, per insured bank, for each ownership category.
Do I need an EIN before opening the account?
Most banks require an EIN for a business account. You can get one free on IRS.gov.