Why Credit Unions are a Better Choice for College Students than Banks
College students will face a lot of choices as they’re learning how to be adults. One of those choices is the financial institution they’ll use. This...
1 min read
Lisett Comai-Legrand
:
Jan 7, 2021 7:36:00 AM
Opening an account for your business is easier than you think, especially when you're prepared. Business accounts require a bit more documentation that a personal account. Below, I've outlined the information you should have when you open a business account to make the process easy:
If you are a sole proprietorship, you will need all of the items above, and your Certificate of Assumed Name if you have one.
If you are an LLC, you will also need the items above, along with your Articles of Organization and your Member Control Agreement, or Operating Agreement.
If you are a corporation, you will also need the items above, along with your Articles of Incorporation, Corporation By-Laws (if applicable), and if you are a non-profit corporation, you will need Board of Directors Authorization.
You will also need the items above, along with By-Laws, if applicable and Meeting Minutes, if applicable.
You will also need the essential documents listed above, along with your Partnership Agreement, and Statement of Qualifications filed with the State Filing Office.
When you are ready to open your business account, it's best to make an appointment with a representative from the financial institution. While making the appointment, be sure to ask if there is any other documentation that may be required, since each financial institution may have slightly different requirements.
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