Limited Liability Companies (LLC)

Individuals That Need to Be Present at Account Opening

Member Managed LLC – All Members

Manager Managed LLC – All Managers

  • If one of the Managers or Members of the LLC is another business, an authorizing representative of that business must be present.
  • If you would like to add authorized signers to the account, they must also be present.

Information Required to Open Account

Personal Identification – Two forms of ID are required. One must be a government-issued ID.

  • Primary ID examples
  • U.S. citizens: State-issued driver's license, state-issued ID card, passport, or military or government ID.
  • Non-U.S. citizens: Permanent residents must provide their Permanent Resident Card (Green Card). Non-U.S. citizens who do not have a Permanent Resident Card must provide their passport or government-issued visa.
  • Secondary ID Examples: employer ID, utility bill, Social Security Card, student ID, Medicaid/Medicare card, etc.

Txpayer Identification Number – An Employer Identification Number (EIN) is required.

  • Single Member LLCs may use their SSN or Individual Taxpayer Identification Number (ITIN).
  • Individual Taxpayer Identification Number (ITIN) may be used for non-U.S. citizens.

Business Documentation

  • Operating Agreement
  • Certified Articles of Organizations (Certificate of Formation)
  • Certificate of Good Standing with the State of Mississippi
  • LLC Banking Resolution
  • If your business is organized in another state, but operates in the State of Mississippi, documentation from both states will be required.
    • Business documentation from the state the business is organized in, and
    • Certificate of Authority from the Mississippi Secretary of State.

Fictitious Name Certificate – may be required if your business is operating with a DBA (doing business as). For example: Jim Jones DBA Jones Professional Painting. Although DBA/fictitious names are not required to be filed in the State of Mississippi, it is highly recommended that a business do so. The filing will verify that no other business is currently utilizing the DBA/fictitious name, and it will register your business's use of the name.

Owners/Members With 25% or More Ownership

Manger Managed LLCs only:

  • Full name as it appears on government-issued ID
  • Legal business name and tax ID number – used only when an owner of the LLC is another entity/trust.
  • Residential address – business address required only if owner is a business entity
  • Percentage of ownership

Individuals Holding Key Roles in the Corporation

Including Senior Managers, Board of Directors members, or anyone else that has influence over the company.

  • Full name as it appears on government-issued ID
  • Residential address

Additional Information That Will Be Requested at Account Opening

  • Business address
  • Phone number
  • Number of business locations
  • Locations where products and services are sold
  • Nature of your business
  • Annual sales
  • Number of employees
  • Types of transactions and volumes you expect to process through the new account