Business Checking FAQs
What documents do I need to provide to identify my business?
Important: Legal entities and/or fictitious/assumed names (DBAs) need to be registered with the MN Secretary of State (SOS) prior to opening an account. A current, non-expired Driver's License or U.S. Passport is required on each account owner and any authorized signer on the account. A physical business address and mailing address (if different) are also needed along with any additional entity documentation noted below:
Sole Proprietorship: Occupational License (if required)
General Partnership: Partnership Agreement (for other types of partnerships, additional documentation may be needed)
Corporation: Articles of Incorporation and Bylaws
Limited Liability Company (LLC): Articles of Organization and Operating Agreement
Please note the entity name and/or fictitious/assumed name (DBA) need to be used exactly as shown on the MN SOS site to label the bank account. Please ensure the name is registered accurately prior to opening an account.
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.