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How to Open a Bank Account for Your Arizona LLC

On Behalf of | Mar 2, 2024 | Arizona Business, Business Owner, LLC, LLC Owner

Congratulations on forming your LLC in Arizona! Now it’s time to establish a dedicated bank account to keep your business finances separate from your personal finances. This critical step protects your personal assets and simplifies bookkeeping and tax filing. But navigating the process can feel overwhelming. This guide will walk you through the steps of opening an LLC bank account in Arizona, with some specific tips for Bank of America, Chase, and Wells Fargo.


Before You Begin

  • Obtain your EIN: This Employer Identification Number, like a Social Security number for your business, is required for opening an account. Apply for yours through the IRS website ( or by phone. We can also help you apply for one if you’d like.


Gathering Your Documents

  • LLC Formation Documents: Your approved Articles of Organization from the Arizona Corporation Commission (ACC).
  • Operating Agreement: This outlines your LLC’s ownership structure and management rules. If you don’t have an Operating Agreement, ask us about creating one! You may not want the default state laws applying to your business.
  • EIN Verification: A copy of your EIN confirmation letter from the IRS.
  • Photo IDs and Driver’s Licenses: For all authorized signatories on the account. This is typically the members or managers of the LLC.


Choosing Your Bank:

  • Compare fees and services: Look for monthly maintenance fees, minimum balance requirements, transaction fees, and online banking features.
  • Consider your business needs: Do you require specific services like international banking or merchant processing?
  • Local branch access: Having a physical branch nearby can be convenient for depositing cash or resolving issues. We have relationships with local bankers and can connect you with personalized, local banking options if you’d like. These banks can often be easier to deal with than the large national banks.


Bank-Specific Requirements

  • Bank of America: You can find their specific requirements here.
  • Chase: You can find their specific requirements here.
  • Wells Fargo: You can find their specific requirements here.

Remember: This guide serves as a starting point. By following these steps and seeking professional advice, you can confidently establish a bank account for your Arizona LLC and ensure its financial success. If you need any help along the way, give us a call at 602-857-9386 to schedule an appointment.