Help Me With Sign Delaware Banking Word

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[Music] how to open a bank account for a Delaware LLC in the US every bank has separate requirements so you must check with the bank before opening an account for your Delaware LLC you do not require a bank account for a Delaware company the majority of the business incorporated in Delaware has headquartered in another state therefore you can open a bank account in any state even if you are incorporated in Delaware Delaware corporations are required by Delaware secretary of state to file an annual report every year but the annual report does not ask for any banking details moreover the Delaware Code does not contain a requirement to have a bank account in Delaware or in any other state bank requires certain details to open a business account federal law requires US banks to make sure that they can form a reasonable belief that they know the identity of all their customers applying to open a business account to meet this requirement banks should implement a customer identification program see IP the minimum identifying information that a US bank is required to obtain for a person are the following name of individual or legal entity date of birth of each individual address of each individual such as an individual a residential or business street address or for an individual who has no residential or business street address an army post office or fleet post office box number or the residential or business street address of next of kin or of another contact person a person other than an individual that is a corporation LLC trust partnership a principal place of business local office or other physical location employee identification number VI n social security number SSN or other government identification number passport number or other similar information in the case of foreign persons for legal entity clients banks will often demand the following details to verify the presence of the legal entity or ascertain the identity of the beneficial owners of the entity certificate of incorporation or formation a LLC operating agreements be corporate minutes bylaws and stock certificates u.s. banks have to identify cheque and record the identities of legal entities beneficial holders the concept of beneficial owners is as follows an individual who owns 25 percent or more of the equity interests of legal entity customer directly or indirectly and an individual who is responsible for controlling managing or directing a legal entity customer which includes an executive officer or senior manager such as a chief financial officer chief operating officer managing member chief executive officer general partner president Vice President or treasurer or any other individual who performs similar functions regularly at the time of opening the business bank accounts the beneficial owners of legal entities are not required to be present anyone who is opening the account will be required to provide the fine institution with the information related to the beneficial owners of the legal entity thanks for watching please share your views and ask if you have any questions regarding this video in the comment section below we learn so you shortly also don't forget to Like and subscribe to our YouTube channel for more such videos [Music] [Music] [Music]