When opening a business checking, savings or certificate account, all financial institutions are required to obtain information verifying your business, as well as the individuals associated with the business.
The list below will help you determine the documents needed to open a business account with Blaze.
Business Account Card Including Certification of Beneficial Owner
This four-page form includes the Business Account Card and the Certification of Beneficial Owner Form. The Certification Form is on page 4.
Business Documentation Checklist
To determine if your business entity requires certification, review the checklist below.
Business Beneficial Owner Definition
Owner: Business ownership of 25% or more
Control: has significant responsibility to control, manage or direct the legal entity
Documents Needed to Open a Business Account
Unincorporated Associations
(i.e. Sports leagues)
EIN
Operating Agreement or minutes of first written action of members
Sole Proprietor
Full name in business name (i.e. John Smith Plumbing)
SSN of the owner
Name of business different from full name (i.e. John & Brothers Plumbing) and Political Campaigns
SSN of the owner or TIN
Business/DBA in Good standing verified with the MN Secretary of State website must include information of the owner.
Limited Liability Company (LLC)
Single Member/Owner using SSN of Owner
SSN of owner
Good standing verified with the MN Secretary of State website
Beneficial Owner Certification (Blaze form)
Single Member/Owner using EIN/TIN
SSN of owner or TIN
Good standing verified with the MN Secretary of State website must include information of one of the signers if not obtaining articles and/or Operating Agreements. If no signer's information appears on the MN Secretary of State website, then the business must provide at least one of the following: Operating Agreement or Minutes of First Written Action of Members, or Articles of Organization
Beneficial Owner Certification (Blaze form)
Multiple Members (i.e. S-Corp, C-Corp, B-Corp) & Organized Associations or Organizations (i.e. Scouting organizations, etc.)
TIN/EIN
Good standing verified with the MN Secretary of State website must include information of one of the signers if not obtaining articles and/or Operating Agreements. If no signer's information appears on the MN Secretary of State website, then the business must provide at least one of the following: Operating Agreement/Minutes of First Written Action of Members, or Articles of Incorporation or Articles of Organization
Beneficial Owner Certification (Blaze form)
Submit to Blaze Deposit Services for Approval
Partnerships
General, Limited, Limited Liability
TIN
Partnership agreement
Good standing verified with the MN Secretary of State website
Beneficial Owner Certification (Blaze form)
Submit to Deposit Services for Approval
Non-Profits & Cooperatives
EIN
Articles of Organization or Bylaws
Operating Agreement or Minutes of First Written Action of Members
Good standing verified with the MN Secretary of State website
IRS Ruling letter of tax exemption under the IRC 501C
Beneficial Owner Certification
Submit to Blaze Deposit Services for Approval