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FAQ's

Opening a Business Checking Account


What documents do I need to provide to identify my business?
What information do I need to provide for authorized signers?
What tax ID numbers are needed?
What is the minimum deposit to open a new account?



Opening a Business Checking Account


What documents do I need to provide to identify my business?

  • Sole Proprietorship: Certificate of Assumed Name from the State of Minnesota.
     
  • Partnership: Partnership Agreement and Certificate of Good Standing from State of Minnesota.
     
  • Corporation: Articles of Incorporation and Certificate of Good Standing from State of Minnesota.
     
  • LLC: Articles of Organization and Certificate of Good Standing from State of Minnesota

 

What information do I need to provide for authorized signers?

Each authorized signer on the account needs to provide a valid driver's license and his/her social security number in addition to their current address.

 

What tax ID numbers are needed?

In the case of a sole proprietorship, the tax identification number needed will generally be the owner's social security number. For other types of businesses, a federal tax identification number will need to be provided.

 

What is the minimum deposit to open a new account?

The minimum deposit to open an account is $200.00.

 

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