In order to open your new business account, please bring the following documents:
  • Certificate of Assumed Name filed with the state of Minnesota
  • 1 page Articles of Incorporation/Organization
  • Official Federal Tax ID number confirmation (apply for an ID here)
  • Certificate of Beneficial Ownership (read more below)

Authorized signers for the account should plan to stop by the bank with their valid US driver's license (or other form of ID) within 3 days of account opening, if possible. 

 

Important Information About Opening a Legal Entity Account

Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.

Each time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number, as well as identification documents) for each individual that has beneficial ownership (25% or more) and one individual that has significant managerial control of the Legal Entity.

If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.

Learn more about Beneficial Ownership >

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