Sole Proprietors

Individuals That Need to Be Present at Account Opening

• The Sole Proprietorship Owner
• Sole Proprietorship Living Trust – the Trustee(s)
• Sole Proprietorship with a Power of Attorney – the Agent
• If you need 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 ID 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.

Taxpayer Identification Number – SSN, ITIN (non-U.S. citizens), or an Employer Identification Number (EIN) is required.

Business Documentation

• Business License (if applicable)
• Trust Documentation (if applicable)
• Sales Tax License (may also be required)
• Sole Proprietorship Banking Resolution (may also be required)

Fictitious Name Certificate – may be required if your business is operating with a DBA (doing business as name). 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.

Power of Attorney’s Only:

Original Power of Attorney Document

Personal Identification

• Agent – two forms of ID are required. One form 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.

• Owner/Principal – Agent is required to provide the owner’s personal ID or a notarized photocopy of the owner's personal ID.

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