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Matthew banks hudson nh3/17/2023 ![]() You’ll need a fax, since that’s the only way the IRS can send you 147C. The two letters from the IRS that are acceptable by banks are:Ĭan’t find your EIN letter? You can call the IRS and get a 147C EIN Confirmation Letter. If you need assistance getting your EIN, please see getting an EIN for my LLC. You’ll need to show them a copy of your EIN in order to open your account. Make sure you’ve received your EIN Number from the IRS before heading to the bank. EIN Confirmation Letter or EIN Verification Letter This will be your LLC’s approved Articles of Organization, which might be called something different in your state (Certificate of Formation or Certificate of Organization). You’ll need the following items to open your LLC’s business bank account: 1. What documents are needed to open an LLC bank account? ![]() don’t pay business expenses out of your personal account.don’t pay personal expenses out of your business account.In order to keep your personal liability protection: professionalism and credibility (using business checks instead of personal checks). ![]() Other reasons to have an LLC bank account are: You just want to avoid paying business expenses with a personal card and avoid paying personal expenses with a business card. Note: This doesn’t mean you can’t move money between your personal account and your business account you certainly can. If you don’t create a separate bank account for your LLC (and you mixed your LLC funds with your personal funds), you would be “commingling” your assets and a court could “pierce your corporate veil”, which would then make you personally liable for the LLC’s debts and legal obligations. Think of your LLC as being another person: it makes its own money, has its own bank account, and has its own expenses. Not only does opening an LLC business bank account make life easier, it also helps you maintain personal liability protection (which is the main reason people form LLCs). One of the first things to do after forming your LLC (and getting your LLC EIN Number) is to open an LLC business bank account. Also, Mercury doesn’t offer phone support, so if you prefer to deal with customer support by phone, a traditional bank may be a better fit. Note: Mercury doesn’t allow cash deposits, so if you need to deposit cash, you’ll also want to open a traditional bank account. We have a Mercury business account and we find it easy to use.
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