Business bank account applications usually stall because a required document is missing. If you're asking what do I need to open a business checking account, the answer is usually not complicated, but it does depend on whether your EIN, operating agreement, and formation documents are actually ready.
What each of those looks like depends on your entity type, which is why a checklist built for a sole proprietor leaves a corporation short. To open a business checking account, you generally need government-issued ID for owners with 25% or more ownership, a tax identification number, your business formation documents, and a physical U.S. business address.
What you need to open a business checking account
Four categories cover almost every application: personal ID for beneficial owners, business formation documents, a tax identification number, and business contact and address information. Providers ask for versions of these whether you apply at a branch or online, and the specifics inside each category shift by entity type. Relay lets you upload documents directly in the application flow, which cuts down on back-and-forth if the paperwork is ready to go.
Personal ID for all beneficial owners. Providers verify the identity of each person who owns 25% or more of the business. This is a federal requirement under FinCEN's Customer Due Diligence Rule, not a policy any individual bank invented. A government-issued photo ID, such as a driver's license or passport, is typically required for each qualifying owner.
Business formation documents. These prove the business legally exists. What counts as proof depends on the entity type: a doing business as (DBA) certificate for a sole proprietor, Articles of Organization for a limited liability company (LLC), and Articles of Incorporation for a corporation.
Tax identification number. LLCs, corporations, and partnerships generally need an EIN. Sole proprietors can often use their Social Security number (SSN), but applying for an EIN is recommended even when it is not required. The application is available through IRS.gov, and online submission can make the process quicker. An EIN also keeps your SSN off business documents and banking paperwork.
Contact and address information. You will need your legal business name, a business phone number, and a physical U.S. business address. P.O. boxes and virtual office addresses may be rejected by some providers. If you don't have a commercial lease, a home address may work.
Document checklist: sole proprietors and single-member LLCs
Sole proprietors and single-member LLCs carry the shortest checklists of any entity type, though the paperwork still varies between them.
Sole proprietor
Sole proprietor accounts require the fewest documents of any entity type.
Government-issued photo ID (driver's license or passport)
SSN or EIN
DBA certificate (if operating under a name different from your legal name)
Physical U.S. business address
Check the business name on the DBA certificate against the name on your application before you submit it. Even though a sole proprietor can apply with just an SSN, getting an EIN before applying is worth it because it keeps your SSN out of banking records and off documents shared with vendors or clients.
Single-member LLC
Single-member LLCs usually need one more layer of formation paperwork than sole proprietors do.
Government-issued photo ID
EIN
Articles of Organization (the document filed with the state to form the LLC)
Operating agreement
Physical U.S. business address
If you are not sure where your formation documents are stored, you may be able to find Articles of Organization through your state's secretary of state office. Single-member LLC applications can stall if the operating agreement is missing, since banks often request it during onboarding or follow-up review. Even if your state does not legally require one, some banking providers may ask for it before opening the account.
Document checklist: multi-member LLCs, corporations, and partnerships
Multi-owner entities add two things to the shorter checklists above: identity verification for each 25%+ owner, and formal governance documents (bylaws, resolutions, or partnership agreements) that show who is authorized to act for the business.
Multi-member LLC
Multi-member LLCs carry a longer checklist because each 25%+ owner needs individual identity verification, and the operating agreement has to list every member and their ownership percentage.
Government-issued photo ID for each member with 25%+ ownership
EIN and EIN verification letter (IRS CP-575 or 147c)
Articles of Organization
Operating agreement listing all members and their ownership percentages
Physical business address for the business and a physical U.S. home address for each beneficial owner
Have all owner email addresses and IDs collected before you start. Every qualifying member may need to complete identity verification individually, and missing owner information can hold up the application.
Corporation
Corporations require the most documentation of any entity type.
Government-issued photo ID for all officers and owners with 25%+ ownership
EIN and EIN verification letter
Articles of Incorporation
Corporate bylaws
Corporate resolution authorizing the account opening
Physical U.S. business address
Owners often forget the corporate resolution, which is the formal record showing the board authorized a specific person to open and manage the account. Traditional banks often require it; not all online platforms do. Either way, having it ready avoids a follow-up request.
Partnership
Documentation requirements for partnerships can differ from those for LLCs and corporations, depending on the bank and entity type.
Government-issued photo ID for all partners with 25%+ ownership
EIN and EIN verification letter
Partnership agreement
Partnership registration form (if registered with the state)
Physical U.S. business address
If your partnership is registered with the state, make sure the registration form and partnership agreement use the same business name.
How to open a business checking account: step by step
The process itself has five stages, whether you apply at a branch or online.
Confirm your entity type and gather formation documents. Sole proprietor, single-member LLC, multi-member LLC, corporation, or partnership. The entity type determines which formation documents you need: DBA certificate, Articles of Organization, Articles of Incorporation, or partnership agreement.
Get your EIN if you don't already have one. Apply online through IRS.gov. Check the IRS site directly for current online application hours and processing details.
Collect government-issued ID and contact information for every beneficial owner. Anyone with 25% or more ownership needs to be ready to complete identity verification. Confirm names on IDs match names on formation documents exactly.
Choose your provider and submit the application. Online platforms handle the application entirely online, with no branch visit. Traditional banks may require an in-branch appointment, especially for multi-owner entities.
Complete identity verification and fund the account. After the provider finishes its Know Your Customer (KYC) review, you can make the opening deposit and start using the account.
How to choose a business checking account
Beyond the paperwork, the right provider depends on how your business actually operates. Four factors matter most.
Fees and minimum balances. Traditional banks often require minimum opening deposits and monthly maintenance fees. Online platforms vary. Read the fee schedule before you apply.
Cash deposit capability. If your business handles physical cash, a traditional bank or a fintech with cash-deposit partnerships is the right fit. Most online-only platforms do not support cash deposits directly.
Accounting integrations. If your books run in QuickBooks Online or Xero, native integrations reduce manual reconciliation work at month-end.
Multi-account setup. Owners running Profit First, separating tax reserves from operating cash, or splitting money across projects benefit from opening more than one checking account under a single login. This is the model Relay is built around: up to 20 checking accounts (up to 50 on Scale) and 2 savings accounts on every plan, so each allocation, project, or reserve gets its own bucket. QuickBooks Online and Xero sync are built in.
The application method itself also differs between traditional banks and online platforms.
Traditional bank (in-person) | Online banking platform | |
|---|---|---|
Application method | In-branch appointment | Entirely online |
All owners present | Often required at the branch | Each owner completes verification online separately |
Application time | Longer, with branch scheduling | Shorter, with online submission |
Review process | Can be same-day if documents are in order | Often takes additional review time |
Account availability | Sometimes same day | After review is complete |
Minimum opening deposit | Often required (varies by bank) | Not always required |
For businesses that operate primarily online and do not need to deposit cash at a branch, an online platform is the more practical path. For businesses that need cash deposit capability, in-person support, or want to maintain an existing lending relationship, a traditional bank may be the better fit.
What happens after you apply
U.S. banking providers are generally required to run a Know Your Customer (KYC) review before opening an account. This verifies the identity of the business and its owners against government records. It's not a credit check and doesn't affect your business's credit score.
Timing varies by application method and entity complexity. Online platform applications are often reviewed within a short window, and in-branch applications may open more quickly if all documents are in order. Relay reviews applications after submission, and the review period is typically 1–2 business days.
More complex entity types, such as corporations with multiple officers or recently formed LLCs without much public record history, may take longer. If the review surfaces a question, the provider will send a follow-up request. Common reasons include address verification, an expired owner ID, or a name mismatch between your ID and application details. Even minor discrepancies matter: "LLC" on the state filing versus "L.L.C." on the EIN letter can trigger a follow-up.
If your application is still pending after the provider's usual review window and you haven't received any follow-up request, contact the provider directly.
Get your documents ready, then apply
Delays almost always trace back to a document that was not ready when the application started. The four categories above (beneficial owner ID, formation documents, tax ID, and business address) are the working set to have in hand before applying anywhere, and Relay's application flow is built around uploading them in one pass.
Once your documents are ready, you can open a Relay account to handle the application entirely online, with up to 20 checking accounts (up to 50 on Scale) and 2 savings accounts on every plan so tax reserves, operating cash, and project money can stay separated from day one.
Frequently asked questions
What do I need to open a business checking account?
You need four categories of documentation: government-issued ID for every owner with 25%+ ownership, a tax identification number (EIN or SSN), your business formation documents (DBA certificate, Articles of Organization, Articles of Incorporation, or partnership agreement), and a physical U.S. business address. The exact formation document depends on your entity type. See the checklists above for the full list by structure.
How long does it take to open a business checking account?
Online platform applications typically take 10 to 20 minutes to complete, with review finishing within 1 to 2 business days for most entity types. In-branch applications take longer to schedule but can sometimes open same-day if all documents are in order. Complex entities, such as corporations with multiple officers or recently formed LLCs, may take longer during the KYC review.
Can I open a business bank account online?
Yes. Online banking platforms handle the full application process without a branch visit. The application is usually quick, with review completed after submission. All owners with 25% or more ownership complete identity verification online as part of the process.
Do I need an EIN to open a business bank account?
For LLCs, corporations, and partnerships, yes: most providers require an EIN. Sole proprietors without employees can use their SSN instead, but getting an EIN is recommended. The application goes through IRS.gov. It keeps your SSN off business banking documents.
Can I open a business bank account without a business license?
In most cases, yes. A business license is required for certain regulated professions, but it is not a universal requirement for opening a bank account. What is required is proof the business entity legally exists: Articles of Organization for an LLC, Articles of Incorporation for a corporation, or a DBA certificate for a sole proprietor operating under a business name.
What happens if my business bank account application is delayed?
Most delays trace back to missing or incomplete documentation. The provider will typically send a follow-up request specifying what is needed. Respond to that request promptly. If no follow-up has been received and the application has been pending beyond the provider's usual review window, contact the provider directly to check on the status.
Can I open a business bank account if my business was just formed?
Yes, provided you have already obtained your EIN. The IRS online EIN application is available on IRS.gov; check the site directly for current hours and processing details. Some platforms allow you to submit the application while certain formation documents are still being processed by the state, as long as those documents are supplied within a specified window after submission.
