Can this form be signed electronically?

Yes. Electronic signatures are legally valid under the federal ESIGN Act (15 U.S.C. ch. 96) and UETA in most states when intent, consent, attribution, and retention requirements are met.

When is a notary required?

Notarization is required only when the receiving institution or state law specifically asks for an acknowledged signature; verify the exact requirement before obtaining a notary or RON.

What if names or EINs do not match?

Mismatched legal names or TINs frequently cause account holds and tax reporting issues; correct data to match formation and IRS records to avoid backup withholding or delays.

Are witness signatures ever needed?

Witness requirements depend on state law and document type; some states or specific instruments require one or two witnesses in addition to notarization.

How long must I keep the completed form?

Follow retention rules: IRS minimums (IRC §6501(a)), HIPAA six-year rule for healthcare records (45 CFR §164.530(j)), and any longer state or industry-specific mandates.

Which eSignature features reduce processing errors?

Required fields, conditional logic, automated validation, and an audit trail reduce omissions and provide evidence of consent and attribution during dispute or audit.

Electronic Signature
Templates
Miscellaneous
Business Accounts Form

Business Accounts Form

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

BUSINESS ACCOUNTS FORM

This Business Accounts Form (the Agreement) is entered into on by and between (Account Holder) and (Service Provider).

RECITALS

WHEREAS, Account Holder seeks to establish business accounts and billing arrangements with Service Provider to facilitate purchases, billing and payments for goods or services; and

WHEREAS, Service Provider is willing to open and maintain such accounts and to provide administrative and billing services pursuant to the terms and conditions set forth in this Agreement; and

WHEREAS, the parties desire to set forth the scope, account controls, payment terms and other obligations governing the relationship.

BUSINESS ACCOUNT INFORMATION

Business Legal Name DBA / Trade Name Entity Type (select all that apply)

Corporation LLC Partnership Sole Proprietorship Other

Federal Tax ID / EIN Primary Business Address Billing / Mailing Address (if different) Primary Contact Name

Contact Title

Phone

Email

AUTHORIZED ACCOUNTS AND PAYMENT INSTRUCTIONS

Bank Name

Routing Number

Account Number

Account Type

Checking Savings

ACH Authorization: Account Holder authorizes automatic debits and credits

SCOPE OF WORK

The parties agree that Service Provider will provide account management, invoicing, and collection services as described below. Scope may be amended only in accordance with the amendment procedure set forth herein.

PAYMENT TERMS

Standard Account Credit Limit Payment Amount (if fixed) Payment Schedule / Terms

Accepted Payment Methods: ACH Wire Check Credit Card

Late Fee / Interest on Past Due Balances

TERM AND TERMINATION

Term Commencement Date: Term Expiration / Review Date:

Termination Notice Period

Either party may terminate this Agreement for material breach if the breaching party fails to cure within the notice period specified above. Upon termination, Account Holder remains liable for all charges and accrued fees through the effective date of termination.

CONFIDENTIALITY

Each party shall treat as confidential all non-public information received from the other party in connection with account setup, billing, collections, payment data, bank account details, pricing and business practices (Confidential Information). Confidential Information shall not be disclosed except to employees, agents or contractors who have a need to know and who are bound by confidentiality obligations at least as protective as those set forth herein. Obligations of confidentiality shall survive termination of this Agreement for a period of three (3) years, or longer as required by applicable law with respect to personal or financial data.

INDEMNIFICATION AND LIMITATION OF LIABILITY

Each party agrees to indemnify, defend and hold harmless the other party from and against any third party claims arising out of the indemnifying party's negligent acts, willful misconduct, breach of representations or violation of applicable law in connection with this Agreement. EXCEPT FOR LIABILITY ARISING FROM WILLFUL MISCONDUCT OR GROSS NEGLIGENCE, NEITHER PARTY SHALL BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the state indicated below without regard to its conflict of laws rules.

Governing State

ENTIRE AGREEMENT

This Agreement, together with any attachments, schedules or executed account authorizations, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, proposals and communications, whether written or oral. No amendment shall be effective unless in writing and signed by both parties.

REPRESENTATIONS; CERTIFICATION

Each party represents and warrants that it has full power and authority to enter into this Agreement, that the individuals signing below are authorized to bind the respective party, and that all information supplied on this form is true, complete and accurate. Account Holder certifies that account and bank information provided is correct and that it has authority to authorize debits and credits described herein.

Additional Terms or Notes

Account Holder - Printed Name:

By:

Title:

Date:

Service Provider - Printed Name:

By:

Title:

Date:

What the Business Accounts Form Is and when it’s used

A Business Accounts Form is a standardized document used to open, update, or authorize access to business-level accounts with banks, vendors, payment processors, or internal finance systems. It typically collects the legal business name, entity type, federal tax identification (EIN or SSN for sole proprietors), authorized signers and their titles, contact and banking details, and required compliance attachments such as W-9s or formation documents. Organizations use the form to confirm authority, establish payment or credit terms, and create an audit trail for onboarding and ongoing account management. Electronic completion and e-signing streamline processing while preserving record integrity.

Why a formal Business Accounts Form matters

A consistent Business Accounts Form reduces onboarding errors, clarifies signer authority, and centralizes documentation needed for tax, banking, and vendor compliance. Standard fields make verification faster and support automated workflows that cut manual rework and incomplete submissions.

Who typically completes and receives this form

Common users include finance teams, vendor managers, small business owners, and onboarding specialists who need verified business data before granting account access or payment terms.

Small business owners and principals who provide legal entity details and authorize signers for banking and vendor accounts.
Corporate procurement and accounts payable teams that validate vendor identity, tax status, and payment instructions before issuing purchase orders.
Banking and treasury officers who collect customer business data to open deposit, lending, or merchant accounts with verified authority.

The completed form is generally retained by accounts payable, treasury, vendor management, or the originating business unit as part of the official vendor or customer file.

Core elements that make an effective Business Accounts Form

A professional form groups identity, tax, authorization, and payment data to support verification, compliance, and straight-through processing during onboarding and ongoing account changes.

Entity Information

Legal business name, DBA if any, entity type (LLC, C-Corp, S-Corp, partnership, sole proprietorship) and state of formation to match government records.

Tax Identification

Federal EIN or SSN for sole proprietorships; include W-9 request language and TIN certification fields to prevent backup withholding.

Authorized Signers

Names, titles, contact details, and an attest checkbox confirming authority; include space for corporate resolution reference or formation document attachment.

Banking Details

Routing and account numbers, account type, and voided check attachment area for payment setup and ACH verification processes.

Compliance Attachments

Fields for W-9, formation documents, beneficial owner information (per BSA/FinCEN), and any industry-specific authorizations such as HIPAA business associate addenda.

Terms and Signatures

Governing law selection, data-consent language, signature block with printed name and date, and acknowledgement of electronic signature acceptance where used.

Step-by-step: completing the Business Accounts Form

Follow these sequential steps to prepare, verify, and submit the form so accounts can be opened without delays.

01

Gather documents: Collect EIN, formation documents, W-9, ID for signer
02

Complete fields: Enter entity and banking information accurately
03

Confirm authority: Attach corporate resolution or authorization when required
04

Sign and submit: Execute signature block and send to the requesting recipient

Typical online workflow settings for eSubmission

Configure fields and routing to match your internal approval and verification steps for automated processing.

Field	Configuration
Required fields	Make legal name, EIN, signer and signature mandatory
Conditional fields	Show beneficial owner section if ownership >25% selected
Signer order	Set sequential signing for internal review then external signer
Notifications	Enable email/SMS reminders and completion receipts

How eSubmission and verification usually proceed

Digital processing reduces manual handoffs; these core steps show how the form moves from requester to account setup.

Upload: Sender uploads completed form and attachments
Place fields: Add signature, date, and checkbox fields for signers
Authenticate: Signer verifies identity by chosen method
Archive: Finalized record and audit trail are stored

Technical requirements and integrations for eSubmission

Review platform needs such as supported file types, authentication options, and integration endpoints before configuring eSubmission.

File formats: PDF, DOCX, HTML supported
Authentication: Email, SMS code, KBA optional
Integrations: CRM/ERP connectors available

Timing and regulatory deadlines to keep in mind

Some associated filing and reporting deadlines can affect how you collect and retain Business Accounts Form data; plan submissions accordingly.

W-9 timing:

Provide W-9 on request; no fixed federal filing deadline

1099-NEC filing:

Form 1099-NEC due to recipients and IRS by January 31

Income tax return:

Individual and many business returns due April 15 (Form 1040)

I-9 retention:

Retain I-9 per 8 CFR §274a.2 timing rules

Record access:

Ensure format is reproducible for audits and exchanges

Common mistakes that delay account setup

Entering an incorrect EIN or mismatched business name that does not match formation or IRS records, causing rejections.
Failing to attach required supporting documents such as W-9, formation articles, or corporate resolution when signer authority is delegated.
Using initials or partial names in the signature block when full legal signatures are required by the receiving institution.
Missing or inconsistent mailing and physical addresses, which can prevent identity proofing or regulatory correspondence delivery.

Consequences of incorrect or incomplete forms

Backup withholding: 24% withholding rate

Information return penalties: IRC §6721 penalties apply

Account delays: Onboarding and payment holds

Compliance risk: BSA/AML review failures possible

Contract invalidation: Authority disputes may void agreements

Notarization errors: Improper acknowledgements can nullify acceptance

Security and compliance considerations for stored forms

In-transit encryption: TLS 1.2/1.3

At-rest encryption: AES-256

Audit trail: Timestamped signing history

Privacy compliance: HIPAA BAA available where required

Certifications: SOC 2 Type II, ISO 27001

Accessibility: WCAG 2.0 Level AA support

Representative eSignature pricing and capability comparison

Basic pricing and key capability markers for commonly evaluated eSignature vendors; signNow is listed first per comparison conventions.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	Yes — 7-day trial	Trial available	Trial available	Trial available	Limited free plan
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes (BAA required)	Yes	Yes	No	No

Frequently asked questions about Business Accounts Forms

Answers to common questions about authority, e-signatures, notarization, and retention when completing a Business Accounts Form.

Need help? Contact support

Can this form be signed electronically?
Yes. Electronic signatures are legally valid under the federal ESIGN Act (15 U.S.C. ch. 96) and UETA in most states when intent, consent, attribution, and retention requirements are met.
When is a notary required?
Notarization is required only when the receiving institution or state law specifically asks for an acknowledged signature; verify the exact requirement before obtaining a notary or RON.
What if names or EINs do not match?
Mismatched legal names or TINs frequently cause account holds and tax reporting issues; correct data to match formation and IRS records to avoid backup withholding or delays.
Are witness signatures ever needed?
Witness requirements depend on state law and document type; some states or specific instruments require one or two witnesses in addition to notarization.
How long must I keep the completed form?
Follow retention rules: IRS minimums (IRC §6501(a)), HIPAA six-year rule for healthcare records (45 CFR §164.530(j)), and any longer state or industry-specific mandates.
Which eSignature features reduce processing errors?
Required fields, conditional logic, automated validation, and an audit trail reduce omissions and provide evidence of consent and attribution during dispute or audit.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now