We strive to make banking...simplified. Here is a guide for the required documents for a Business Edge Account.
Sole Proprietorship
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Tax Identification Number (Social Security Number or EIN)
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Assumed Name Certificate¹
Partnership, Limited Liability Corporation - General or Limited
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Tax Identification Number
- One of the following:
- Partnership Agreement
- Articles of Organization
- Operating Agreement
- Beneficial Ownership Information²
Corporation
- Tax Identification Number
- One of the following:
- Articles of Organization
- Operating Agreement
- Beneficial Ownership Information²
Association
- Tax Identification Number
- One of the following:
- Charter
- By-Laws
- Articles of Association
- Meeting Minutes
- Letter of Purpose
- 501(c)3 Documentation
- Beneficial Ownership Information²
Beneficial Ownership: Federal regulation requires certain financial institutions to obtain, verify, and record information about the beneficial owners of legal entity customers. Legal entities can be abused to disguise involvement in terrorist financial, money laundering, tax evasion, corruption, fraud, and other financial crimes. Requiring the disclosure of key individuals who own or control a legal entity (i.e., the beneficial owners) helps law enforcement investigate and prosecute these crimes. A beneficial owner is:
- Each individual, if any, who owns, directly or indirectly, 25% or more of the equity interests of the legal entity customer (e.g., each natural person that owns 25% or more of the shares of a corporation), and
- An individual with significant responsibility for managing the legal entity customer (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, or Treasurer).
Other documentation may be required depending on each individual situation. ¹Only required if member's full name is not within the title of the business. ²All authorized signers and beneficial owners will need the following: un-expired photo identification, Tax Identification Number, name, physical address, and date of birth.