What documents do I need to open a business account with SFCU?

Corporation or For-Profit Corporation

• Articles or Certificate of Incorporation
• New York State Filing Receipt
• Employer Identification Number (EIN) letter from the IRS or signed W-9
• Valid photo ID, date of birth, physical address, and Taxpayer Identification Number (TIN) for all authorized signers and beneficial owners
• Certificate of Assumed Name or Fictitious Name Statement, if the business operates under a DBA

Not-for-Profit Corporation

• Articles or Certificate of Incorporation
• New York State Filing Receipt
• EIN letter from the IRS or signed W-9
• Valid photo ID, date of birth, physical address, and TIN for all authorized signers
• Meeting minutes identifying who will be on the account and their roles or titles
• 501(c)(3) documentation if the nonprofit designation isn’t shown on other documentation. Churches do not need to provide proof of 501(c)(3) status.
• Certificate of Assumed Name or Fictitious Name Statement, if applicable

Limited Liability Company (LLC)

• Articles of Organization
• New York State Filing Receipt
• Operating Agreement
• EIN letter from the IRS or signed W-9, if using an EIN instead of a Social Security number
• Valid photo ID, date of birth, physical address, and TIN for all authorized signers and beneficial owners
• Certificate of Assumed Name or Fictitious Name Statement, if the LLC operates under a DBA

General Partnership

• Business Certificate for Partners
• County Clerk Filing Receipt
• EIN letter from the IRS or signed W-9
• Valid photo ID, date of birth, physical address, and TIN for all authorized signers and beneficial owners

Limited Liability Partnership (LLP) or Limited Partnership (LP)

• New York State Certificate of Registration
• Partnership Agreement
• New York State Filing Receipt
• EIN letter from the IRS or signed W-9
• Valid photo ID, date of birth, physical address, and TIN for all authorized signers and beneficial owners

Sole Proprietor / DBA

• Business Certificate
• County Clerk Filing Receipt or stamped file number on the Business Certificate
• EIN letter from the IRS or signed W-9, if using an EIN instead of a Social Security number
• Valid photo ID, date of birth, physical address, and TIN for all authorized signers

Organization

• Meeting minutes identifying who will be on the account and their roles or titles
• EIN letter from the IRS or signed W-9
• Valid photo ID, date of birth, physical address, and TIN for all authorized signers

Political Campaign

• New York State Board of Elections letter showing the candidate was chosen to run for office
• Meeting minutes identifying who will be on the account and their roles or titles
• EIN letter from the IRS or signed W-9
• Valid photo ID, date of birth, physical address, and TIN for all authorized signers

Will SFCU need information about the business owners?

Yes. For certain legal entities, SFCU is required to collect identifying information about the individuals who own or control the business.

Be prepared to provide identifying information and documentation for:

• Beneficial owners: Each individual who owns 25% or more of the business.
• Control person: One individual with significant responsibility for managing the business, such as a CEO or President.

This may include the individual’s name, physical address, date of birth, Taxpayer Identification Number, and valid government-issued photo ID. A beneficial owner or control person does not necessarily need to be an authorized signer or have access to the account.

Helpful tip: Having all required business documents and identification ready can help make opening your SFCU business account as quick and easy as possible. If you don’t have them all, we can get the processed started. We can finalize the account via e-signature if that is most convenient.