Corporations

Corporations Checklist

Thank you for choosing Chase. We have provided the following important information to help open your new account. We look forward to working with you.

Individuals that need to be present at account opening:

• An authorizing representative must be present. This includes: President, Secretary, Assistant Secretary or Acting Secretary.
  • If you would like to add Authorized Signers to your account, they must be present also.
  • Non-Profit Only: A minimum of 2 non-voting board members is required if there are not any voting members.

Information required to open account:

• Personal Identification:
  • Two forms of ID are required. One ID must be a Government Issued ID.
  • Primary ID Examples:
    • U.S. Citizens: State Issued Driver’s License, State Issued ID card, Passport, etc.
    • Non-U.S. Citizens:
      • Permanent Residents:
        • Permanent Resident Alien Card (Green Card), State Issued Drivers licenses, State Issued ID card, Passport, etc.
      • Non-Permanent Residents:
        • Passport, Matricula, or U.S. Employment Authorization Card
    • Secondary ID Examples:
      • Credit Card/Debit Card with embossed name, Employer ID, Utility Bill, etc.
• Tax Identification Number:
  • An Employer Identification Number (EIN) is required.
• Business Documentation: Filed with appropriate State Agency including State Filing Stamp.
  • Certified Articles of Incorporation – also known as a Certificate of Formation.
  • Website Validation – must be obtained free of charge.
  • Active Status Verification – Corporations registered more than 1 year ago also require one of
    the following: Certificate of Good Standing, Status Report, Long Form Standing or Short Form
    Standing.
  • Note: If your business is organized in another state, but operates in the state in which the account is opened, documentation is required to certify that the business is entitled to operate in the state in which the business address is located.
  • Business Documentation from the state the business is organized in, and
  • Foreign Registration or Certification from the state the account is being opened in.
• Assumed Name Certificate: May be required if your business is operating with a DBA (doing business as). For example: Jones Paint Supply Inc. DBA Jones Professional Painting.
  • Not required in AK, AL, HI, KS, MS, NM, SC, TN, WI, and WY
  • Note: Assumed Name Certificates may also be referred to as: Trade Name Certificate, Fictitious Business Name Statement, or DBA.

The following documentation may also be required:

• Supplemental Documentation listing the current officers of the Corporation (one of the following):
  • Certified amendment to the Articles of Incorporation or Certificate of Formation
  • Corporate Resolution
  • Meeting Minutes
  • Annual Report or Statement of information

All Owners/Shareholders With 10% Or More Ownership:

• Full name as it appears on the shareholders’ Government issued ID.
• Legal Business Name – only used when an owner of the Corporation is another
  entity/trust.
• Residential Address – (Business address if an owner is a business)
• Percentage of ownership
• Date of Birth
• Tax Identification Number (e.g. SSN, ITIN, FTIN)
• Country of Citizenship
• Non-U.S. Citizen without a Permanent Resident Alien Card (Green Card) only: provide identification information from either Passport or Matricula Consular Card (i.e., ID number, issuance, expiration date). The physical ID is not required to be shown for those individuals who do not need to be present.
• Note: If applying for a Business Credit Card or Safe Deposit Box it is required to collect the above information for those owners with 25% or more ownership.

Individuals holding key roles in the corporation:

Including Senior Managers, Board of Directors, or anyone else that has influence over the company.

• Full name as it appears on the customers’ Government issued ID.
• Residential Address
• Senior Managers require additional information:
  • Date of Birth
  • Tax Identification Number (e.g. SSN, ITIN, FTIN)
  • Country of Citizenship

Additional information that will be requested at account opening:

• Business address
• Phone number
• Number of business locations
• Where products and services are sold
• Location of suppliers and vendors
• The nature of your business
• Annual sales
• Number of employees
• Types of transactions and volumes you expect to process through the new account

The following is needed if you would like to provide limited access to authorized employees (non-signers) to transact on behalf of your business using an employee card. Employee does not need to be present.

• Full name as it appears on the employee’s Government issued ID
• Employee’s residential address
• Employee’s date of birth

Your satisfaction is our number one priority. If you have any questions regarding this information or anything regarding your new account, please contact your local Chase Business Specialist. Thank you again for choosing Chase.