Businessman working computer in store

Business Account Checklist

Documentation checklist when applying for a business bank account at Profinium.  


 
Step 1: Each Applicant must provide:  Step 2: Beneficial Owner Information
  • Name
  • Social Security Number
  • Phone Number
  • Email Address
  • Occupation
  • Employer
  • Photo ID showing date of birth and physical address
  • Name of one individual with significant responsibility for managing the legal entity?
    • Examples: CEO, CFO, COO, Managing Member, General Partner, President, Vice President, Treasurer, or any other individual who
      regularly performs similar functions.
  • Anyone who owns 25% or more of the business
    • Legal Name
    • Social Security
    • Photo ID showing date of birth and physical address

Step 3: Requirements by Business Type Listed Below

  • Certificate of Assumed Name (required if not using first & last name in business name)
  • Can be under Social Security # or EIN Documentation (examples: IRS Letter SS-4 or Tax Returns)
  • CIP Information for Sole Proprietor
  • Articles of Incorporation
  • By-Laws, Operating Agreement, or Corporate Resolution stating who has authority to open an account and who the authorized signers are on the account. (If none of these documents show current signers, Meeting Minutes)
  • Certificate of Good Standing from Secretary of State
  • Certificate of Assumed Name (if applicable)
  • IRS EIN Documentation (examples: IRS Letter SS-4 or Tax Returns)
  • Beneficial Ownership Information
  • CIP Information for each signer or guarantor
  • Partnership Agreement- If available but not required
  • Meeting Minutes (showing partners, titles, and who has authorization to sign)
  • IRS EIN Documentation (examples: IRS Letter SS-4 or Tax Returns)
  • Beneficial Ownership Information (Step 2)
  • CIP Information for each signer or guarantor (Step 1) 
  • CIP Information for each signer or guarantor
  • Business documentation naming the bank as the depositary and designating the account signers, and titles.
  • IRS EIN Documentation (examples: IRS Letter SS-4 or Tax Returns) or Social Security # can be used
  • Articles of Organization
  • Operating Agreement or By-Laws – if available
  • Meeting Minutes or Member Control Agreement (showing partners, titles, and who has authorization to sign)
  • Certificate of Good Standing from Secretary of State
  • Certificate of assumed name (if applicable)
  • IRS EIN Documentation (examples: IRS Letter SS-4 or Tax Returns)
  • Social Security # for Single Members LLC can be used
  • Beneficial Ownership Information
  • CIP Information for each signer or guarantor
  • Partnership Agreement
  • Meeting Minutes or Operating Agreement (showing partners, titles, and who has authorization to sign)
  • Certificate of Good Standing from Secretary of State
  • Certificate of Assumed Name (if applicable)
  • IRS EIN Letter
  • Beneficial Ownership Information
  • CIP Information for each signer or guarantor