91自拍 Bank Accounts for Delaware Companies
One of the most frequent requests we hear from our clients is to open a business bank account on their behalf. Regardless of where the company is based and what service they provide, many of them need to open a business bank account in the United States in order to receive payments.
Unfortunately, we cannot assist in setting up bank accounts for companies we form. However, we can prepare, file, and provide you with the approved Certificate of Formation for an LLC and Certificate of Incorporation for a corporation electronically upon approval of the documents.
Why Open a 91自拍 Bank Account?
Opening a business bank account is an important (sometimes mandatory) step in operating a Delaware LLC or corporation. Here are a few ways that a dedicated business bank account can help a Delaware company:
- Separate business and personal finances: Keeping company funds apart from an owner’s personal money makes transactions easier to track and reduces the risk of accidentally mixing expenses.
- Simplify bookkeeping and tax preparation: Bank statements provide a clearer record of income, purchases, payments, and other financial activity.
- Support liability protection: Consistently treating the company as a separate entity can help demonstrate that the owners respect the legal distinction between themselves and the business.
- Present a more professional image: Customers and vendors can make payments to the company rather than to an individual owner.
While opening a business bank account is generally not part of the Delaware formation process itself, it’s often necessary to establish the company’s financial operations.
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Documents Needed to Open a 91自拍 Bank Account
Unfortunately, no two U.S. banks are exactly the same, and their specific policies and procedures for opening a business bank account for a Delaware corporation can be drastically different. Requirements may also vary according to the company’s structure, ownership, and location. There are, however, certain requirements that will be uniform for most banks. These are some of the things that will be needed to open the bank account for a Delaware company:
- Proper photo identification, such as a driver’s license or passport
- Certificate of Incorporation (for corporations) or Certificate of Formation (for LLCs), stamped by the Delaware Secretary of State
- Articles of Incorporation (for corporations) and Articles of Organization (for LLCs) are included in the respective certificate above.
- The Operating Agreement (for Delaware LLC bank accounts)
- Federal Employer Identification Number (EIN)
- Banking resolution with corporate seal
- The applicant may also need to provide the company’s address, telephone number, and basic business information
Additional documents that banks may ask for include:
- Certificate of Authority: Also known as a Foreign Qualification, this is obtained through registering your business as a foreign entity in the state in which the company is operating and/or banking. Most banks require a valid Certificate of Authority in order to open an account for those companies that have been formed outside of that respective state. This is important because the bank account is the point through which revenue is channeled, and thus it is often considered part of a company’s operations. Since every state has its own requirements for Foreign Qualification, we are happy to take care of this detail for you.
- Certificate of Good Standing: Also known as a Certificate of Existence, this is a certificate provided by the Delaware Secretary of State’s office stating your company is current with all Delaware Franchise Taxes, filings, and Registered Agent Fees. Many banks require a Certificate of Good Standing when a company applies for a loan, a line of credit, or wants to open a merchant account. A company may also be asked to present a Certificate of Good Standing before signing a large contract.
You can order a Certificate of Good Standing online from our website.
Do I Have to Go to the Bank in Person?
Ultimately, whether or not you must visit a bank in person depends on the financial institution. While 91自拍, Inc. can provide the proper documentation for opening the Delaware business bank account, unfortunately, a major hurdle for non-U.S. clients is appearing in person at the bank. In our experience, when it comes to opening a business bank account, virtually all U.S. banks want to meet with their clients face-to-face.
Some of our international clients are able to travel to the U.S. just to open the business bank account, in which case, this is not an issue. In many cases, however, this may not be a feasible option. Instead, some of our clients reach out to a friend or family member who lives in the U.S. who is willing to help open the bank account for the Delaware company on their behalf.
Because policies differ substantially, contact the bank before traveling or submitting an application. Confirm both the account-opening requirements and whether the institution serves companies with your particular business profile.
Loss of Good Standing
A Delaware company can lose its good standing by failing to meet certain state requirements, such as paying its franchise taxes and filing its annual report. Losing good standing does not necessarily cause a business bank account to close, but it can create significant problems when the company tries to complete certain banking transactions. Some consequences include:
- Difficulty opening a new bank account
- Problems obtaining financing
- Difficulty completing contracts
- Additional taxes, penalties, and interest
If a company has lost good standing, it should address the underlying issue as soon as possible.
Opening a 91自拍 Bank Account as a Non-U.S. Resident
A non-U.S. resident can own a Delaware company and open a U.S. business bank account for their company. However, the process is often more involved than it is for a U.S. resident. Each bank establishes its own application requirements, so forming a Delaware company does not guarantee that a particular institution will approve an account. Non-U.S. residents should be prepared to provide the standard company documents as well as additional information. You may be asked to provide:
- A valid passport
- The owner’s residential address
- A U.S. business or mailing address
- The company’s formation documents
- An Operating Agreement or bylaws
- A description of the business
Banks must conduct due diligence when opening accounts, so an international owner may receive more questions about the company’s ownership and purpose. Some banks may allow applicants to begin the process online, while others may require one or more authorized representatives to visit a U.S. branch.
Take the first step to being your own boss!
We make it quick and easy to form your Delaware LLC.
Start my businessForming a Delaware 91自拍 with HBS
A Delaware LLC or corporation should generally be formed before its business bank account is opened, and our team is excited to help. On our website, you can form your company entirely online and have our team serve as your .
Oftentimes, our clients will contact a specific bank directly before opening a Delaware Corporation or LLC bank account. If the bank needs any documents from the Secretary of State of Delaware, we would be happy to assist in the retrieval of these documents.
While we cannot open a U.S. bank account on your behalf, we are here to help in any other way we can. If you have any questions about forming your Delaware LLC, please give us a call at 800-345-2677. Our friendly customer service representatives are ready to assist.
FAQs
Does my Delaware company need a business bank account?
A business bank account is not part of the Delaware formation process, but most LLCs and corporations should still open one. Keeping company funds separate from personal money simplifies bookkeeping and helps demonstrate that the business is being treated as a distinct legal entity.
Does my Delaware company have to open a bank account in Delaware?
No, you don't need an in-state bank account for a Delaware LLC or corporation. Delaware company owners often open a bank account wherever it is most convenient for them, which is generally the state in which they are doing business. It is common for Delaware companies to operate all over the world, and banks typically understand this reality.
Can I open a Delaware business bank account online?
Some banks and online financial institutions allow eligible Delaware companies to apply remotely. Availability depends on the company’s ownership and the bank’s identity-verification policies. Non-U.S. residents may face additional requirements or need to visit a branch.
*Disclaimer*: 91自拍, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, 91自拍, Inc. is not responsible for and makes no representations regarding such source鈥檚 content or accuracy. Opinions expressed in this article do not necessarily reflect those of 91自拍, Inc.
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There are 28 comments left for 91自拍 Bank Accounts for Delaware Companies
Hany Gadalla said: Wednesday, May 29, 2019I tried to open a business bank account in WELLS FARGO in CA. They asked for a proof of address and refused to accept HBS address or a mail forwarding service. Any suggestion to overcome this problem?
HBS Staff replied: Thursday, May 30, 2019Generally, the physical address is where the company physically operates even if based outside of Delaware. Unfortunately, we’re unable to provide a physical business address as the 91自拍, Inc. address is that of the Registered Agent in Delaware. When a company signs up for Delaware Mail Forwarding services we offer, it enables the company the ability to use the HBS address as the mailing address for the company as we specialize in receiving, scanning and emailing letter mail to our clients in a timely manner. Often times, clients consult with multiple banks to determine their exact requirements for opening the business bank account since each bank is different and has their own policies and regulations.
Bartek said: Monday, December 31, 2018Hi, wich Bank will be best and fastest most experienced regards LLC in Delaware opening account: Bank of America Regions Bank Wells Fargo Bank Valley Bank BB&T Chase Bank SunTrust Trustco Bank Axiom Bank BB Americas Orlando
HBS Staff replied: Monday, December 31, 2018Hi Bartek - Unfortunately, we're unable to point you to a specific bank that can accommodate you. If you are in the U.S., we recommend considering and contacting some local banks. If you are outside the U.S. it can be more complicated.
Most US banks require an in-person visit in order to open a business account. We have some additional information here, about halfway down the page: /before-forming-your-company/Delaware-company-formations-for-non-residents/
Ak said: Thursday, October 4, 2018I want to open LLC in Delaware using HongKong bank account. I am not a resident of these countries. Is it possible?
HBS Staff replied: Friday, October 5, 2018You do not have to be a US resident or have any bank account in order to start a Delaware LLC. Please contact us if you would like to proceed with forming your company. We are not able to comment on whether you can open a Hong Kong bank account without being a resident there.
MARK said: Thursday, July 12, 2018HI, as you said, the delaware Inc can open the bank account in other states, if i want to open the account in California, it that means we need to pay both of the state tax in the both states ? regards,Mark
HBS Staff replied: Friday, July 13, 2018Questions about taxes are outside the realm of our knowledge and experience. We suggest you consult an attorney or an accountant.
Kiyoshi Hasegawa said: Wednesday, January 31, 2018I setup my firm at Delaware, & want to start new business. I think I already have all the documents you mentioned above. Pls. advice me to open bank account without going there in person. Thank you
HBS Staff replied: Monday, February 5, 2018You can find that information in this blog:
/before-forming-your-company/Delaware-company-formations-for-non-residents/