At Grasshopper we pride ourselves on being a digital first bank. However, there are certain situations in which we may ask you for further documentation to validate certain aspects of your business, including but not limited to your EIN, state registration, or ownership.
What documents pertain to my business?
What documents pertain to your business will vary depending on the business type. Always seek legal counsel if unsure of what documents you need to maintain your business. Below is an non-exhaustive chart of documents different entity types typically have.
How can I show proof of my entity’s EIN?
Your Employer Identification Number (EIN) is your federal tax identification number. If asked to provide proof of EIN, please ensure your entire EIN number is shown in addition to your business name. The EIN and business name should match the information provided on the application. The following documents will yield your entity’s EIN:
- EIN Confirmation letter from the IRS (CP 575)
- EIN Verification letter from the IRS (147C).
- EIN screenshot from the IRS Portal
- Prior Year’s Tax Return
If you are a disregarded entity or a sole proprietorship, you may be using your Social Security Number (SSN) for your business. Please refer to the Internal Revenue Service (IRS) to determine if your entity needs an EIN.
How can I show proof of my entity’s state registration?
Often called Business Formation Documents, Articles of Organization or Articles of Incorporation, these documents are filed in the state you chose to register your business. Registration documents can typically be found in your state’s Secretary of State online portal.
How can I show proof of my entity’s owners(s), director(s) or member(s)?
The document(s) you have to show your company’s ownership(s), director(s), or member(s) will vary depending on the type of entity you have. Here are different documents that may yield this information:
- Articles of Incorporation
- Articles of Organization
- By-Laws
- Operating Agreement
- Partnership Agreement
Before submitting your most recent official document, ensure that the names of the individuals and your business are listed clearly.
How can I show proof of my entity’s address?
Grasshopper Bank requires a physical address for entities and individuals that cannot be a mail center (Staples, Fedex, UPS, etc.) or P.O. Box. We accept many forms to validate your address, such as:
- Active lease
- Formation documents or EIN confirmation letter
- Utility bill
- Bank statements
How can I show proof of my business name?
There are several acceptable documents to show proof of your business name. These include:
- Articles of Incorporation or Organization
- EIN Confirmation Letter
- Prior Year’s Tax Return
If adding an assumed name, also known as a “Doing Business As” or “DBA”, you will need to provide your DBA or Assumed Name Certificate. Where this alternative name is filed is dependent on your state, but oftentimes it is filed with the Secretary of State, County Deed Office, or the City Clerk. Please refer to your state’s requirements for locating this document.
For more information or questions regarding documents required to verify your business, contact Client Services.
By Alena Robertson in Business Banking
