Question: I just formed by new Arizona limited liability company. I now need to open a bank account in the name of the LLC. How do I open the account?
Answer: Tell the bank you want to open a bank account in the name of the LLC. Give the following to the bank officer:
- A copy of the LLC’s Articles of Organization with either the Arizona Corporation Commission’s “received” stamp or its “filed” stamp. Most banks will accept the Articles of Organization before it has been approved by the ACC. A few, however, require a copy of the Articles of Organization approved by the ACC with the “filed” stamp on it.
- The LLC’s federal employer identification number (EIN). To learn how to get an EIN for an LLC, read my article called “How Do I Get a Federal Employer Identification Number for an LLC?“
- A few banks also require a copy of the LLC’s Operating Agreement. If you do not have an Operating Agreement for your Arizona LLC hire me to prepare a custom Operating Agreement by completing and submitting our online Operation Agreement Questionnaire.
If you want to open a bank account immediately after submitting the Articles of Organization to the ACC, you must hand deliver two copies of the Articles of Organization to the ACC. Give one copy to the ACC and ask the ACC clerk to stamp the copy with the ACC received stamp and return it to you. Use this copy to open the LLC’s bank account. If you do not follow this procedure, you will not be able to open the LLC’s bank account until you receive the approved Articles of Organization from the ACC one to four week after the submission date. Check the upper right hand corner of this website for the date of documents filed on an expedited basis that are being reviewed by the ACC.
I recommend that you get an EIN for your LLC. Banks will allow you to open a bank account in the name of the LLC if you give the bank your social security number. In this age of identity theft, it is better to get an EIN for the LLC so you do not have to give out your SSAN to banks or others from time to time.
hello ..
i have registered an llc form in Colorado with one of my partner .. i’m indian and my partner is a america citizen with SSN ,
Now i want to open a bank account in usa but i’m not physically available there , is it possible that my partner can open the account for our llc without visiting me there
The member who is an American citizen can go to a US bank and open a bank account in the name of the LLC if it is a member managed LLC. If the LLC is manager managed the American must also be a manager to open a US bank account.
Hi,
I am going to open bank account of Usa llc. I am non resident alien. What kind of trouble i will met after recieve money from the usa customers? Can reference some articles about taxes for solar llc non residents aliens? It would great to see a full workflow from to get money to my bank account till fill the tax return form.
Thanks, Michael
The information you seek in on my website called U.S. Real Estate Law. See the articles in the left column called “US Investing Legal Links” and “US Investing Checklist.”
A big problem you will face is that an owner of the LLC or a manager (if the LLC is manager managed) must be in the US to appear at the bank to open the LLC’s bank account. This person must have proof of identity such as a passport. Once the LLC opens a US bank account the LLC’s customers can make payments to the LLC that are deposited in the LLC’s US bank account.