Foreigner Open Us Bank Account : How to open a bank account in the United States for your LLC if you are not a US citizen?
Contrary to popular belief, non-residents of the United States are permitted to open a bank account for their United States-based organisation from any location on Earth.
Prior to opening a bank account for your LLC, you must check that your organisation has earned an EIN. EINs are available to persons who do not have a Social Security number in the United States, but obtaining one may take several weeks due to the IRS’s requirement that the document be faxed or sent to you. If you want help in obtaining an EIN, we can assist you.
Establishing a Bank Account from a Remote Location
Due to the tight ‘Know Your Customer’ standards of traditional banks, you are often required to physically visit the bank in order to open an account.
This is often inaccessible to non-residents since it requires travel to the United States. Certain neobanks (a neobank is a kind of bank that operates fully online) do allow you to open an account without physically visiting the bank.
Mercury.com and Payoneer are two neobanks that will permit foreign-owned limited liability businesses to open accounts online beginning in December 2020.
Using the Jumpstart Program to Open a Bank Account
Most financial institutions need an in-person visit to open a bank account; however, with Jumpstart, we will open the account on your behalf and present you with your account details online. Online banking allows you to manage every part of your banking experience. There is no reason to enter. Conditions precedent to opening a bank account
Articles of incorporation for your business, a picture of your government-issued identity (such as a passport or driver’s licence), and a federal EIN are all necessary.
The majority of banks will demand the following documentation:
A card with a photograph. Identification may be in the form of a driver’s licence or a passport.
It is necessary to have a valid social security number (SSN) or individual taxpayer identification number (ITIN) Visit How to Obtain a Federal Tax ID Number (TIN)
Affidavit of present residence: Copies of bills or signed rental agreements are acceptable.
Due to the fact that each bank is unique, it is necessary to contact the bank in advance and speak with a management representative about your position. Inform them that you own a United States LLC and are a non-resident of the United States without a Social Security number or an ITIN. It is critical to determine which papers are necessary to open a bank account.