Any bank in Florida is able to open an LLC bank account for your company. Companies who have greater concerns about privacy may want to work with smaller banks or credit unions. Larger banks, however, are usually easier to open an LLC account at since they have vast experience with a full range of account types.
The good news is that when you open a bank account for your anonymous LLC, the process will be very similar to that of opening one for any other LLC. The same exact documents will be required. You simply need to let the bank know that your name is not on your Articles of Organization under the Organizer. To further encourage this process to go smoothly, it is becoming more common to have private companies. As such, more and more bankers have experience assisting them.
Keep in mind that there is not a specific type of bank account for Florida companies. You will be able to open the LLC bank account at any bank, whether or not it has branches in Florida. The only requirement is that the bank is comfortable with opening an account for an entity that is not in the state.
Prepare Your Documents
Before you head to the bank, take the time to gather the documents. Every bank has slightly different requirements. You should either bring all the following documents or contact the bank to see which ones you need.
Most banks will require the following:
- Proof that the Florida Secretary of State accepted your business entity. For LLCs, this is the Articles of Organization. Or for Corporations, it is the Articles of Incorporation.
- The governing documents of your business entity. This is the Operating Agreement or Bylaws for LLCs or Corporations, respectively.
- The Employer ID the IRS gave you. You will likely receive this while forming your business entity.
- Two types of identification, with at least one of them featuring a photo.
Choosing a Bank
As mentioned, you do not have to choose a bank for your LLC with locations in Florida. If the bank does not offer branches in Florida, then you need to ensure that it offers accounts for those who are from another state. This is less common for small, local banks. Essentially, if your chosen bank does not have Florida branches, contact the bank to confirm you can still open an account for your Florida LLC.
If you cannot find a bank to open an account with, you could consider SBB (Small Business Bank). They cannot help certain types of businesses but do everything remotely. They do, however, only offer accounts to those who have state-issued IDs or passports, meaning you must be a citizen of the United States to use them. Alternatively, you can confirm that your local bank allows for Florida LLC accounts. Most major multi-national banks will.
Opening the Account
Once you have selected the bank, begin the process of applying for an account. You may have several choices of account types. You will need to enter basic information as well as your company’s EIN during the application process. You will also likely need to supply copies of some of the previously mentioned documents.
With your Florida LLC bank account open, you are ready to begin transacting business while keeping your business and personal finances fully separate.