A Non-Resident's Guide to Opening a US LLC Bank Account with an ITIN

You’ve successfully formed your US LLC as a non-resident. Congratulations! That’s a huge step towards accessing the world's largest market. But now you face the next critical hurdle: opening a US business bank account. Without a Social Security Number (SSN), this can feel like an impossible task.

The good news? It’s not. With an Individual Taxpayer Identification Number (ITIN) and the right preparation, you have several viable paths to secure a bank account for your LLC. This guide will walk you through all the options available to non-resident founders.

First, Your Document Checklist

Before you approach any financial institution, gather your documents. Being over-prepared is the key to success. You will need:

• LLC Documents: Your state-approved Articles of Organization and your internal Operating Agreement.
• EIN Confirmation Letter (CP 575): This is the official notice from the IRS assigning your Employer Identification Number. It's non-negotiable.
• ITIN Confirmation Letter: Proof that you, the beneficial owner, have an ITIN.
• Valid Foreign Passport: The primary form of identification for the person opening the account.
• Proof of Foreign Address: A recent utility bill or bank statement showing your address in your home country.
• US Business Address: This cannot be a simple P.O. Box. It should be the address on your LLC formation documents, typically your Registered Agent's address or a virtual office address.

Option 1: The Modern Fintech Route (Remote-Friendly)

In recent years, financial technology (fintech) companies have emerged as the most popular choice for non-resident founders. These platforms are built for the digital age and are generally more accepting of international applicants. They are not technically banks themselves but provide banking services through FDIC-insured partner banks.

Option 2: The Traditional Bank Route (In-Person Visit)

This is the old-school method: walking into a physical bank branch. While more difficult, it results in an account with an established, household-name bank. This path almost always requires you to be physically present in the United States.

• Which Banks?: Some larger banks like Bank of America or Chase, and smaller regional banks, may open an account for a non-resident with an ITIN. Success is highly dependent on the specific branch and the banker you speak to.
• The Key to Success: Call multiple branches in advance. Explain your situation clearly: "I am a non-resident, I have a US-registered LLC with an EIN, and I have an ITIN instead of an SSN. I would like to book an appointment to open a business checking account." This saves you from a wasted trip.
• What to Expect: Bring your entire document checklist, neatly organized in a folder. Be prepared to talk professionally about your business, its purpose, and its expected transaction activity. A successful meeting can result in you walking out with an active bank account number.

Option 3: The "Done-for-You" Service Provider Route

If the DIY options seem daunting or you've been rejected, using a professional service is your most reliable path. These firms specialize in helping non-residents navigate the complexities of the US banking system.

These services, like the one offered by Financely, leverage their existing relationships with multiple banks and understand their precise compliance requirements. The process typically involves:

• Initial Vetting: The service provider assesses your business to ensure it meets banking compliance standards.
• Document Packaging: They help you prepare and package all your documents professionally.
• Direct Introduction: They make a formal introduction to a specific bank and banker within their network who is already prepared to handle your case.
• Problem Solving: If the bank requires additional components, such as a US-resident nominee for representation, the service can often provide this.

While this option comes at a cost, it offers the highest chance of success and saves you dozens of hours of research and potential frustration.

Conclusion: It's Possible with Preparation

Opening a US LLC bank account with just an ITIN is entirely achievable for a non-resident founder. Your best path depends on your circumstances. If you are comfortable with technology and have a straightforward business, a fintech platform is an excellent starting point. If you plan to visit the US, a traditional bank offers stability. And if you want to maximize your chances of success without the headache, a professional service is a worthwhile investment.

Feeling overwhelmed by the paperwork and process? Our team specializes in helping international founders establish their US banking foundation.