Open The Company’s Bank Account


Open The Company’s Bank Account
Generally, the bank will require the company’s approved articles and the Federal Employer Identification Number (EIN) to open the bank account.  The bank account should be opened in the company’s full legal name, including the company designation (i.e. “LLC” or “Inc.”).  The approved articles have the Arizona Corporation Commission’s (ACC) file stamp at the top of the document showing the approval date and the company’s file number wh ich is assigned by the ACC.  The EIN can be obtained from the IRS.  You can obtain the EIN on the IRS website by completing form SS4 or you can call the IRS and obtain it over the phone. 

The bank will request the name of company’s designated signers on the bank account and these individuals should also be identified in the company’s minutes.  The company minutes are notes taken at a compay meeting which document the action that was taken at the meeting, such as approving the designated  bank signers.    You should keep a copy of all of your company minutes in your corporate book so you will have all of your corporate records in one place.