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Business Checking Account opening information

Thank you for choosing Chase

 

We have provided the following important information to help open your new business bank account. We look forward to working with you.

Sole Proprietors Checklist

Individuals that need to be present at business banking account opening:

  • Sole Proprietorships with one owner — the owner
  • Spousal Sole Proprietorships — both owners
  • Sole Proprietorship Living Trust — the trustee(s)
  • Sole Proprietorship with a Power of Attorney — the agent
  • If you need to add authorized signers to the account, they should be present at account opening. If they cannot be present, they can be pre-authorized during account opening, but will need to go to the branch, with both forms of ID, within 30 days, to be authorized

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.
    • Proof of address or date of birth may be required. Additional forms of ID may be required for Non-U.S. Citizens.

Tax Identification Number:

  • SSN, ITIN (Non-US Citizens), or an Employer Identification Number (EIN) is required.

Business Documentation:

  • Varies based on the State of Organization.

Assumed Name Certificate:

  • May be required if your business is operating with a DBA (doing business as). For example: Jim Jones DBA Jones Professional Painting.
  • Not required in HI, KS, MS, NM, WI and WY
  • Note: Assumed Name Certificate may also be known as: Trade Name Certificate, Fictitious Business Name Statement, or DBA
  • Trust Documentation

Supplemental Documentation listing the owner and Assumed Name (one of the following):

  • Assumed Name Application or Filing Receipt
  • Published newspaper entry
  • Business License

  • Original Power of Attorney Document
  • Personal ID
    • Agent: two forms of ID are required. One form 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)
          • Non Permanent Residents:
            • Passport or Matricula Consular Card
      • Secondary ID Examples:
        • Credit Card/Debit Card with Embossed name, Employer ID, Utility Bill
    • Owner/Principal: agent is required to provide the owner’s Personal ID or a photocopy of the owner's personal ID

  • Business address
  • Phone number
  • Number of business locations
  • Where products and services are sold
  • Where suppliers and vendors are located
  • 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.