Do I need an EIN to open a business bank account?

For LLCs, corporations, and partnerships, yes — banks require an Employer Identification Number. Some sole proprietors without employees can open a business account using their own SSN or ITIN instead, but most banks still prefer an EIN for a business account.

What documents does a bank ask for to open a business account?

For an LLC: your Articles of Organization, your EIN confirmation letter, and usually an Operating Agreement. For a corporation: Articles of Incorporation, bylaws, and often a resolution naming who can open and sign on the account. For a sole proprietorship operating under a different name, you'll also need your DBA or business certificate filing.

Can I get an EIN if I only have an ITIN, not an SSN?

Yes. The IRS's online EIN application accepts an ITIN as the responsible party's identification number, the same as it accepts an SSN, and issues the EIN immediately. If you have neither an SSN nor an ITIN, you apply by fax or mail instead of online.

Guide · Money, Taxes & Banking

How to Open a Business Bank Account

Opening a business account comes down to one thing every bank asks for first: your EIN. Here's how to get it free, and what else to bring.

Whether you're formalizing a side hustle or opening the account for a new LLC, the process is more predictable than it feels. Banks want to confirm your business legally exists and that you're authorized to act on its behalf. The centerpiece of that proof, for almost every business type, is your Employer Identification Number — a number the IRS gives out for free, in minutes, if you apply the right way.

🆔 Get your EIN first — it's free

You can apply for an EIN directly at irs.gov at no cost. The online application is available weekdays and, if you qualify to use it, issues your EIN immediately once submitted — there's no reason to pay a third-party site for something the IRS itself gives away for free.

📑 The documents your bank will want

For an LLC, bring your Articles of Organization, your EIN confirmation letter, and typically an Operating Agreement. For a corporation, bring Articles of Incorporation, bylaws, and often a resolution naming who's authorized to open and sign on the account. Sole proprietors operating under a name other than their own legal name also need their DBA or business certificate filing. Under federal beneficial-ownership rules, expect to also list anyone who owns 25% or more of the business.

🪪 What changes if the owner has an ITIN, not an SSN

On the IRS's own EIN application (Form SS-4), the "responsible party" line accepts an SSN, an ITIN, or an existing EIN — an ITIN works exactly the same as an SSN there, and the online application is still available to you. If the responsible party has neither an SSN nor an ITIN, the online option isn't available and you'd apply by fax or mail instead, which takes several business days rather than minutes.

Do this first: apply for your EIN directly at irs.gov — it's always free, and any site charging a fee for "EIN filing service" is charging you for a form the IRS processes at no cost.

Official source: IRS.gov, "Apply for an Employer Identification Number (EIN) Online" and Instructions for Form SS-4.

Sources
1. Internal Revenue Service, "Apply for an Employer Identification Number (EIN) Online," irs.gov, accessed August 2026. 2. Internal Revenue Service, Instructions for Form SS-4, irs.gov, accessed August 2026.

Criollo News guides are practical explainers, not tax or legal advice — every case is different, and rules change. Confirm your situation with the IRS, a certified tax preparer (like NYC Free Tax Prep), or an accountant.

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