Opening a Business Account
Sole Proprietorship
Items required to open:
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Business License or Schedule C, if using a fictitious name
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EIN Award Letter or Tax Return (Schedule C), if using an EIN instead of SSN
Partnership
Items required to open:
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Partnership Agreement (required for Limited Partnerships and Limited Liability Partnerships. Documentation noting authority to obtain financial institution services.)
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EIN award letter or Partnership tax return showing EIN
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Beneficial Owner Designation Form - provided by the Credit Union
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Active status with State of TN (LP, LLP, or PLLP)
Corporation
Items required to open:
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EIN award letter or Corporate tax return showing EIN
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Signed meeting minutes authorizing account
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Bylaws or Resolution - Documentation noting authority to obtain financial institution services
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Beneficial Owner Designation Form - provided by the Credit Union
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Active status with State of TN
Single-Member LLC
Items required to open:
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EIN award letter or LLC tax return showing EIN
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Beneficial Owner Designation Form - provided by the Credit Union
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Active status with State of TN
Multi-Member LLC
Items required to open:
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Operation Agreement or similar documentation noting authority to obtain financial institution services
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EIN award letter or LLC tax return showing EIN
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Beneficial Owner Designation Form - provided by the Credit Union
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Active status with State of TN
Unincorporated Associations, Clubs, or Organizations
Items required to open:
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EIN Award Letter or 990 Filing or similar tax return
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Bylaws or Minutes - Documentation noting authority to obtain financial institution services
