A business bank account is the operating foundation for any US LLC or C-Corp. It is needed to receive customer payments, pay vendors, run payroll and connect to payment and accounting software. For founders who live outside the United States, the path from formation to an open account has a few predictable obstacles.
Why your US company needs its own account
Keeping company funds in an account held by the entity protects the separation between the company and its owners, supports clean tax filings and is usually required by payment processors and accounting platforms.
Common hurdles for non-US founders
- EIN timing: Founders without a Social Security Number or ITIN generally cannot apply for an Employer Identification Number online and must submit Form SS-4 to the IRS by fax or mail, which can take weeks.
- In-person requirements: Many large US banks ask owners to visit a branch with original documents.
- Country and industry restrictions: Some providers that accept remote applications restrict certain countries of residence or business types.
- Total timeline: Formation, EIN and account opening together can take several months if each step waits on the previous one.
Documents you should expect to provide
- 1Articles of Organization for an LLC, or Articles of Incorporation for a C-Corp, filed with the state
- 2IRS EIN confirmation, such as Form CP575 or an equivalent IRS letter
- 3Passports and proof of residential address for every owner, member or director above the provider's threshold
- 4A specific business description covering what the company sells, its customers and how money moves in and out
How to prepare
- Apply for the EIN as soon as the company is formed. It is usually the longest lead-time item.
- Keep formation documents consistent. Names and addresses should match across state filings, the EIN letter and identity documents.
- Prepare identity documents for every owner. Collect passports and recent proof of address.
Frequently asked questions
Can I open a US business account without an SSN or ITIN?
Many providers accept owners without US tax identification numbers, provided the company has an EIN. Confirm with each provider.
Do I need to travel to the United States?
Some banks require a branch visit and other providers offer remote verification. Ask each provider before applying.
Can I start before my EIN arrives?
Some providers let you begin an application and add the EIN later. Others require it up front.
Questions to ask any provider
Whichever bank or financial technology provider you consider, ask for written answers to the same questions so you can compare like with like:
- Who holds the account? Identify the institution named in the account agreement and how deposits held there are protected.
- Which payments are supported? Confirm inbound and outbound ACH, domestic wires and international wires, plus any limits or restricted countries.
- What does it cost in total? Ask for setup, monthly, per-transaction and currency-conversion charges in one written schedule.
- How is onboarding completed? Confirm whether verification can be completed remotely and which documents must be certified, apostilled or translated.
- What happens after approval? Ask how often the provider refreshes due diligence and what information it may request later.
This guide is general information for business owners. It is not legal, tax or financial advice and does not describe the products, terms or eligibility requirements of any specific provider. Requirements change, so confirm current rules with your registered agent, accountant or adviser and with the provider you choose.