How Non-Residents Open a US Business Bank Account

Written by CA Sumit ChandwaniChartered Accountant & Founder · Reviewed by Minal Bihani, EA

Banking is where most non-resident founders get stuck. Here's the realistic path.

What every bank will ask for

• Formation documents — articles/certificate of organization
• EIN confirmation letter (CP 575) from the IRS
• Operating agreement showing who owns and controls the LLC
• Your passport, and often proof of address
• A clear description of what the business does and where its customers are

Fintech vs traditional banks

Fintech business accounts (the Mercury/Relay/Wise category) onboard non-residents remotely and are the practical default: online application, no branch visit, US account and routing numbers, integrations with Stripe and marketplaces. Traditional banks generally want an in-person visit and a US footprint — worth it later, rarely necessary on day one.

Why applications get rejected

Restricted countries, vague activity descriptions, mismatched names between formation docs and passport, and missing EIN letters cause most rejections. Fixing the file and reapplying usually works; guessing doesn't.

After the account opens

Keep business and personal money strictly separate — commingling undermines liability protection and makes your books (and Form 5472 reporting of owner transfers) painful. Every transfer between you and the LLC should be documented; those transactions are exactly what Form 5472 reports.

The bottom line

Non-residents open US business accounts every day: clean formation docs, EIN letter, real business profile, fintech-first. MOREOFTAX prepares the document pack banks want and guides clients through onboarding as part of formation.