Opening a US Bank Account for Your LLC: What Forms You'll Need

Opening a US business bank account is one of the first things you'll do after forming your LLC and getting your EIN. Banks have specific document requirements, especially for foreign-owned entities.

Documents every bank will need

• •EIN Confirmation Letter (CP 575) — The letter the IRS sends confirming your EIN

• •Articles of Organization — Your LLC formation document from the state

• •Operating Agreement — Even if it's a single-member LLC, banks want to see it

• •Form SS-4 — Some banks ask for a copy of your EIN application

• •Government-issued ID — Passport for foreign founders

Additional documents for foreign owners

• •W-8BEN or W-8BEN-E — The bank needs this for tax reporting

• •Proof of US address — Even if it's a registered agent address

• •Foreign passport — Current and valid

• •Proof of foreign address — Utility bill or bank statement from your home country

Bank options for foreign founders

Online-first banks (easier for foreign founders):

• •Mercury — Popular with startups, allows remote opening
• •Relay — Good for small businesses
• •Brex — For funded startups

Traditional banks (harder for foreign founders):

• •Chase, Bank of America, Wells Fargo — Usually require in-person visits
• •Some branches are more accommodating than others

The W-8BEN connection

When you open the account, the bank acts as a withholding agent. They need your W-8BEN (personal) or W-8BEN-E (entity) to determine:

• •Your tax status (foreign or US person)
• •Applicable withholding rates on interest income
• •FATCA reporting obligations

Common issues

"We need an SSN." Some banks incorrectly require an SSN. An EIN is sufficient for a business account. If the banker insists, try a different branch or bank.

"We can't verify your identity." Foreign passports sometimes fail automated identity verification systems. Ask for manual review.

"We need you to come in person." Some traditional banks require in-person account opening. Online banks like Mercury don't.

After opening the account

• •Deposit your initial capital contribution (record this for Form 5472)
• •Set up online banking access
• •Order a debit card if needed
• •Link payment processors (Stripe, PayPal)

Pro tip

Generate your Form SS-4 and W-8BEN using UFF before applying. Having these forms ready and properly filled speeds up the account opening process significantly.