Opening a US business bank account when the owner is not a resident

A foreign founder who has formed a Florida entity discovers that the bank account is harder than the company was. Banks apply customer due diligence rules, and for an entity with foreign ownership that means more documentation and more scrutiny. What is typically asked for: the articles of organization and the state's certificate of status, the EIN letter, the operating agreement, identification for every beneficial owner above the ownership threshold and for anyone with control, proof of address for each of them, and a description of the business — what it does, where the money comes from, expected volumes and counterparties. Two practical realities. Many banks require at least one signer to appear in person at a branch, though some institutions and fintech providers do not. And an entity with no US operating history and a foreign owner will sometimes be declined without a stated reason, which is a policy decision rather than a judgment about the business; the answer is another bank, not an argument. The EIN is the usual bottleneck. Applying without a US taxpayer identification number for the responsible party means a slower process than the online route, and it should be started early. Beneficial ownership information also has to be reported to the government under federal rules, separately from the bank — an obligation many new owners are unaware of, with deadlines tied to formation. Prepare a single folder with everything above before approaching anyone. The applications that fail are the ones assembled a document at a time. This article is general information, not legal, tax or financial advice. Rules change and every deal is different — check your own case with a licensed professional. Alberto Zaltzberg — Adonait · adonait.com