Key Takeaways

  • You are not legally required to open a business bank account in the same state as your LLC.
  • Most banks require that your LLC is registered to do business in the state where the account is opened.
  • A national or online bank can simplify multi-state banking for LLCs with operations in multiple states.
  • You'll need formation documents, an EIN, and personal identification to open an LLC bank account.
  • Foreign qualification is often required if opening an account in a state other than your LLC’s formation state.

Can I open a business bank account in another state? This is an important question business owners may ask when they have multiple locations in different state jurisdictions. The short answer to the question is no. The bank account used for the business will need to be opened in the state where the business is operating and where at least one of the members of the LLC resides.

What If You Are Operating in More Than One State or Have Members That Reside in Different States?

When this occurs, it is best to select a national bank that has branch locations in the different states that you do business in. To open up a bank account for a business, the bank will often require a copy of your Articles of Incorporation, which can be printed out if you filed them online. If not, you will need to request a copy from the Secretary of State's office business division and might have to wait a few days to receive them. There are also some other considerations when opening your business bank account, such as:

  • You will need an Employer Identification Number.
  • Each person that will be authorized to have access and the ability to use the account will need to fill out a signature card.
  • Since co-signatories that live out of the state will also need to sign as account holders, you will have to coordinate.

What to Know About LLC Bank Accounts Across State Lines

While banks typically require that your business have a physical presence or be registered to do business in their state, this doesn't mean you must form your LLC there. If your LLC is formed in one state but operates in another, you may need to register as a foreign LLC in the state where you want to open a business account.

National banks are often your best bet, as they typically have branches in multiple states and allow for easier account setup across jurisdictions. Alternatively, many online banks allow you to open an LLC bank account without requiring you to appear in person, provided you submit the proper documentation.

When choosing a bank, consider:

  • Whether the bank operates in all the states your LLC does business in.
  • The bank’s requirements for opening accounts for foreign LLCs.
  • Whether they offer online account management and remote verification.
  • If they allow account signatories to verify their identity remotely or by visiting different branches.

Additionally, if your LLC is registered in a state like Wyoming, Delaware, or Nevada for tax or privacy reasons but you operate elsewhere, you may need to foreign qualify your business in the state where you’re doing business—and where you're opening the account.

How to Set a Bank Account Up Out of State

There may be a legitimate reason that you wish to keep your money in a bank that operates in a different state or even possibly overseas. This can be especially true if you have a business interest in the other state or country. Though it is important to note that moving your money to a different area, or offshore, does not mean the money would be protected from obligation or legal judgment. There are a few ways that you can go about creating an account in a different state.

Method 1: Consider Opening a Personal Account

One way to move money to a different state or even offshore is by opening a personal account in the other area. When considering this method, you should:

  1. Evaluate the available banks: Look at the banking options of financial institutions that are available for opening a personal account in the area. You might consider such things as online access or operating hours. Also, check into whether or not the bank has branches located in your home state.
  2. Review the needed account requirements: While most accounts require that you be 18 years of age and a U.S. citizen, there are other requirements that can be set forth depending on the type of financial institution. Be sure to inquire about all fees and minimum balances to avoid problems.
  3. Inquire as to if you can open your account online: The ability to open your account online can make it easier for you and prevent you from having to make a trip out of state.
  4. Contact customer service: You can ask any questions you may still have and possibly even open your account over the phone if you do not feel comfortable doing it online.
  5. Put funds into your account: The final step in opening a personal account is by actually funding the account. Most banks will require at least an initial deposit shortly after the initial setup to activate your account.

Method 2: Set Up a Business Bank Account

A second option is setting up a business banking account, which is also relatively easy with a few simple steps.

  1. Register to do business in the state: Most banks will require that your business have a physical location in the state for you to open a business bank account.
  2. Choose the bank you wish to use: Business banking options and incentives vary widely from bank to bank, so it is important to do your research so that you get the most out of your money and avoid any unnecessary or costly fees.
  3. Speak to a bank representative: Contacting a business banking representative at each bank you have narrowed down your options to is a great way to get specific detail in what they can offer in terms of business accounts and also what steps you need to take to get the account open.
  4. Make your first deposit: As with a personal account, your business account will need funding to be activated.

What Documents Are Required to Open an LLC Bank Account?

To open an LLC bank account, whether in your home state or another, you will generally need the following documentation:

  1. Articles of Organization – The formal LLC formation document filed with the state.
  2. EIN (Employer Identification Number) – Issued by the IRS for tax identification.
  3. Operating Agreement – Especially important for multi-member LLCs, this document outlines the ownership and management structure.
  4. Business License (if applicable) – Required in certain states or municipalities.
  5. Valid Photo ID – For all owners or members who will be signers on the account.
  6. Certificate of Good Standing – Some banks may request this if your LLC was formed more than a few months ago or is registered as a foreign LLC.

If you're opening a business bank account in a different state than your LLC's formation state, banks will likely also require:

  • Proof of foreign qualification in that state.
  • A business address in the state or documentation showing operations there.

Can I Open an LLC Bank Account Online from Another State?

Yes, many banks now allow you to open an LLC bank account online, including if you're doing so from a different state. Online and fintech banks such as Bluevine, Novo, Mercury, and Relay cater to remote entrepreneurs and LLC owners who operate across multiple states.

However, be prepared to:

  • Upload scans of your LLC documents and EIN letter.
  • Provide personal identification for all signatories.
  • Verify your physical business address (a virtual address may not always qualify).

Some traditional banks may still require in-person visits or only permit account opening in states where the LLC is registered to do business.

LLC Registered in One State, Bank Account in Another: What Are the Risks?

Opening a business bank account in a different state without registering your LLC to do business there could create compliance issues. States may interpret this as “doing business” and expect you to foreign qualify, pay fees, or submit annual reports.

Potential risks include:

  • Fines and penalties for operating without registration.
  • Difficulty opening the account if the bank requires in-state registration.
  • Limitations on legal protection if your business is sued in the state where you haven't registered.

To avoid problems, consult a business attorney or legal service like those available on UpCounsel to determine whether foreign qualification is necessary based on your banking and business activities.

Frequently Asked Questions

Can an LLC open a bank account in a state it’s not registered in? Usually not. Most banks require your LLC to be registered or qualified to do business in the state where you’re opening the account.

Do I need to visit the state in person to open an out-of-state business bank account? Not necessarily. Many banks—especially online or national ones—allow remote verification or visits to a local branch even if your LLC is registered elsewhere.

What if my LLC members live in different states? Choose a bank that can accommodate remote signers and has locations or online services accessible to all members.

Can I use a virtual address to open a business bank account? Some banks allow this, but many require a physical address where your LLC conducts business. It depends on the bank’s policies.

What happens if I open a bank account in another state without foreign qualifying my LLC? You may face compliance issues or fines from that state. It’s important to check whether your banking activities constitute “doing business” there.

If you need help with the question can I open a business bank account in another state; you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.