ASSETPROFILE GROUP, LLC

HOW TO OPEN A BANK ACCOUNT AND BUILDING CORPORATE CREDIT

Do you need a bank account in the state the corporation or LLC was filed?

You may bank anywhere, in any state. Although having a brick-and-mortar bank is convenient, it isn’t necessary. There are internet banks such as etrade.com, bankofamerica.com, firstib.com and others where you may apply online.

HOW TO OPEN BANK ACCOUNT FOR A COMPANY

privacy service for corporation and llc
corporation or LLC?

What about privacy services for my corporation or LLC?

If you’re building corporate credit, the banks and other lenders seek to know who is behind the company. After all, if you were lending the money, wouldn’t you want to know who is behind the company? They want to see your name on the public record. Lenders seek transparency. Obtaining a nominee officer/contract officer service will not help you obtain corporate credit. In fact, it will backfire and prevent the obtaining of financing. You may not obtain privacy and successfully apply for corporate credit, unless you have access to private funding sources. The bank will not like you if you’re using a nominee service. If you don’t want to be the signer on the bank account, hire a local bookkeeper to do the job as the Treasurer or Assistant Treasurer for the company.

What about filing in my home state?

If you're applying for corporate credit, the banks require that the company be filed in your home state where you're located, and they seek to see your name on the company. If building corporate credit is not necessary, then you may bank in any state.

What are the best banks to open the account?

A bank usually requests that you open an account where the loan is issued. In other words, banks request that you open an account where you obtained the loan. You'll probably end up with the first account opened in the first bank, and then a secondary account where financing was obtained.
steps to opening the bank account

Below are the steps to opening the bank account:

US PERSON

Provide the bank the following:

FOREIGN PERSON

Provide the bank the following:
What is an Individual Tax Identification Number (ITIN)?

http://www.irs.gov/individuals/ article/0,,id=96287,00.html

How to apply for an ITIN: FORM W-7

http://www.irs.gov/pub/ irs-pdf/fw7.pdf

Can I apply in my country for an ITIN?

Acceptance agents in your country

http://www.irs.gov/ individuals/article/ 0,,id=96304,00.html

tax advisor for shelf businesses