Business Account Application

A sole proprietorship is a business owned and operated by a single individual. It is the simplest and most common form of business structure.

Required Documents

• SSN or EIN
  Note: You may not use your SSN if your business has any employees.
• Valid Photo ID for All Applicants
• Certificate of Assumed Name (MN)*
  Note: Not required if using your full legal name as part of the business name.
• Sole Proprietors in WI are not required to file

When applying for a business account, you’ll choose between two key roles:

• Responsible Party: This role has full authority to manage the account, including updating business membership information, adding or removing signers, opening or closing accounts, performing transactions and accessing account details.
• Authorized Signer: This role is limited to performing transactions and accessing account information, without the broader management powers of the Responsible Party.

Consider these roles carefully based on the level of control you want each individual to have over the account.

Note: If the business is using your SSN, only you can be the responsible party. Up to two additional Authorized Signers can still be added.

An LLC is a hybrid business structure that combines the limited liability protection of a corporation with the potential tax benefits and operational flexibility of a partnership or sole proprietorship.

Required Documents

• SSN or EIN
  Note: You may not use your SSN if your business has any employees.
• Valid Photo ID for All Applicants
• Articles of Organization
• Certificate of Assumed Name, if applicable*
• Operating Agreement, if available

When applying for a business account, you’ll choose between two key roles:

• Responsible Party: This role has full authority to manage the account, including updating business membership information, adding or removing signers, opening or closing accounts, performing transactions and accessing account details.
• Authorized Signer: This role is limited to performing transactions and accessing account information, without the broader management powers of the Responsible Party.

Consider these roles carefully based on the level of control you want each individual to have over the account.

Note: If the business is using your SSN, only you can be the responsible party. Up to two additional Authorized Signers can still be added.

A non-profit organization is a type of business that operates for a charitable, educational, scientific, religious or public service purpose rather than for profit.

Required Documents

• EIN or Articles of Organization
• Valid Photo ID for All Applicants
• Copy of Organization Charter or By-Laws
• Certificate of Assumed Name, if applicable*

When applying for a business account, you’ll choose between two key roles:

• Responsible Party: This role has full authority to manage the account, including updating business membership information, adding or removing signers, opening or closing accounts, performing transactions and accessing account details.
• Authorized Signer: This role is limited to performing transactions and accessing account information, without the broader management powers of the Responsible Party.

Consider these roles carefully based on the level of control you want each individual to have over the account.

An association, organization or club is a group of individuals who come together for a common purpose or interest. This can include social, recreational, professional or advocacy groups.

Required Documents

• SSN or EIN
  Note: You may not use your SSN if your business has any employees.
• Valid Photo ID for All Applicants
• Copy of Organization Charter or By-Laws
• Informal Club or Organization: Using individual’s SSN, no filing required from Secretary of State
• Formal Club or Organization: EIN or Articles of Organization
• Certificate of Assumed Name, if applicable*

When applying for a business account, you’ll choose between two key roles:

• Responsible Party: This role has full authority to manage the account, including updating business membership information, adding or removing signers, opening or closing accounts, performing transactions and accessing account details.
• Authorized Signer: This role is limited to performing transactions and accessing account information, without the broader management powers of the Responsible Party.

Consider these roles carefully based on the level of control you want each individual to have over the account.

Note: If the business is using your SSN, only you can be the responsible party. Up to two additional Authorized Signers can still be added.

Partnerships involve two or more owners and come in three types: General Partnerships, where all partners share management; Limited Partnerships, with general partners managing the business, while limited partners invest; and Limited Liability Partnerships, offering limited liability to all partners.

Required Documents

• EIN
• Valid Photo ID for All Applicants
• Certificate of Assumed Name, if applicable*
• General Partnership:
  • Certificate of Assumed Name, or
  • Partnership Agreement
• Limited Liability or Limited Partnership:
  • Copy of the signed Partnership Agreement
  • Statement of Qualification from the Secretary of State

When applying for a business account, you’ll choose between two key roles:

• Responsible Party: This role has full authority to manage the account, including updating business membership information, adding or removing signers, opening or closing accounts, performing transactions and accessing account details.
• Authorized Signer: This role is limited to performing transactions and accessing account information, without the broader management powers of the Responsible Party.

Consider these roles carefully based on the level of control you want each individual to have over the account.

Corporations are separate legal entities. Profit Corporations distribute earnings as dividends to shareholders, with liability limited to their investment. Non-Profit Corporations focus on charitable, educational or religious missions, reinvesting profits into their activities.

Required Documents

• Articles of Incorporation
• Valid Photo ID for All Applicants
• Certificate of Assumed Name, if applicable*

When applying for a business account, you’ll choose between two key roles:

• Responsible Party: This role has full authority to manage the account, including updating business membership information, adding or removing signers, opening or closing accounts, performing transactions and accessing account details.
• Authorized Signer: This role is limited to performing transactions and accessing account information, without the broader management powers of the Responsible Party.

Consider these roles carefully based on the level of control you want each individual to have over the account.