Documentation requirements for opening business accounts:
Sole Proprietorship (DBA)
Limited Liability Company (LLC)
Our Carlisle branch is still without water due to the city-wide shortage. Therefore, we will only have our drive-up open during normal business hours, until further notice. We will provide access to the lobby for safe deposit boxes.
To access your account, click the "Login" button below.
Sole Proprietorship (DBA)
- Documentation Required:
- If the business name includes the owner’s last name, no additional documentation is needed.
- Example: Michaela Johns opening “Johns Jewelry” does not require extra paperwork.
- If the business name does not include the owner’s last name, a Fictitious Name (Trade Name) Certificate is required. This certificate must be filed with the county recorder’s office and provided to the bank when opening the account.
- Example: Michaela Johns opening “Dazzling Jewelry” would need to provide the certificate.
- EIN vs SSN: Owners may use an EIN instead of their SSN. The EIN number must be provided, but no IRS paperwork is required.
Limited Liability Company (LLC)
- Documentation Required:
- Articles/Certificate of Organization (provided by the owner or available through the Iowa Secretary of State website)
- EIN number (if applicable)
- Tax classification (how the LLC files taxes)
- EIN vs SSN:
- Most LLCs will have an EIN, which can be verbally provided (no IRS paperwork needed).
- Single-member LLCs may choose to use their SSN instead.
- Tax Filing: LLCs may report profits and losses in different ways:
- On the owner’s personal return (partnership or single-member LLC)
- On a separate tax return (S Corp or C Corp election)
- Using their own SSN (if filed as a single-member LLC)