When opening an LLC deposit accounts, does the proof of TIN need to have the current sole member in the address?
There are a lot of clients visit my branch to open a business checking account on behalf of the business owners. In the last case, a US resident visited my branch along with the power of attorney document authorizing him to open the bank account on behalf of his friend who is the sole member of a Wyoming LLC. He had other necessary documents like articles of organization, EIN, copy of ID etc. However, I did not open him a bank account because he was not listed as the member or manager of the company.
What are your suggestions? Thanks
Have you heard of a 2 member (husband and wife) LLC having a disregarded entity and one of them able to use their Social Security number to open a bank account? I thought they would need an EIN number.
Can an LLC account earn interest and can a Social Security number be used instead of an EIN? Also, can a limited partnership earn interest?
Can an LLC open a checking account using a Social Security number? What are the rules?
We have an LLC with five corporations as its members. How much paperwork should we obtain?
Can an LLC business checking have two DBAs attached?
Our revised signature cards require us to indicate whether a corporation is an "S" or a "C" and the tax classification of an LLC (C corp, S Corp or Partnership.) Why is this information pertinent for a deposit account?
I am an operations officer at a small community bank and I need some solutions to a couple of questions. Can a bank deposit a check payable to an individual into an LLC or corporate account (the individual is a part of the LLC or corporate account)? An example - John Doe has a check made payable to him and he wants to deposit it into his LLC account (John Doe Trucking, LLC). Also, what documentation does a customer need to provide a bank if the customer has an LLC account with the bank but recently purchased another business and has checks made payable to the newly purchased business that need to be deposited into the LLC account (that is not in the name of the newly purchased business)? An example - my LLC is titled Never Hungry Cafe, LLC. I recently purchased Mary's Cafe and just for simplicity for my customers they still make their checks out to Mary's Cafe but I need to deposit these checks into my Never Hungry LLC. Any guidance would be greatly appreciated.
Can an LLC have a POD? Also, can an LLC have a savings account?