How to open a US business bank account as a non-resident
A non-resident can open a US business bank account: there is no legal bar on foreign owners, but each bank sets its own policy, and most accounts open to non-residents require a US company, an EIN and verified owners. The usual route is to form a US LLC or corporation, get an EIN from the IRS by phone or fax, then apply to a bank or fintech that accepts non-resident owners. This guide covers each step, the documents, the IRS channels, the address rules and the filings that follow.
- SelectUSA states there is no legal bar on foreign entities having US bank accounts, but each bank decides whether to accept a non-resident owner.
- Non-residents cannot use the IRS online EIN application; they can call 267-941-1099 or fax Form SS-4 to 304-707-9471 from outside the US.
- The IRS allows "foreign" or N/A in place of an SSN or ITIN when the responsible party is not eligible for one, and issues one EIN per responsible party per day.
- Banks must verify every individual who owns 25% or more of the company and one controlling individual, using a passport number for owners who are not US persons.
- Mercury accepts non-resident owners only for companies formed in the US and does not accept registered agent addresses, P.O. boxes or UPS Store addresses as the place of business.
- A single-member US LLC owned by a non-resident must file Form 5472 with a pro forma Form 1120, with a $25,000 penalty for each missed return.
Can a non-resident open a US business bank account?
Yes. SelectUSA, the US government's investment promotion program, states in its banking checklist that there is no legal bar on foreign entities having US bank accounts. What decides the outcome is each bank's own policy: some accept a non-resident owner with a US company, some ask for a US subsidiary, and some decide case by case.
For most non-resident founders the process runs in this order:
- Decide whether you need a US company at all, or whether your existing company abroad can hold the account.
- Form the US company, usually an LLC or a corporation, in one state.
- Obtain an EIN, the US federal tax number for a business, from the IRS by phone, fax or mail.
- Choose a bank or fintech whose published rules accept non-resident owners and your country.
- Prepare company documents, identity documents for each owner and evidence of the trade.
- Apply, answer the review questions in writing and test the account with a small payment.
- Diary the US filings that follow, such as Form 5472 for a foreign-owned single-member LLC.
Allow for each step in your plans. The account is usually the last piece to fall into place, and US customers will not be able to pay you in dollars by ACH until it is open, so start the company and EIN before the first US sale rather than after it.
A non-resident here means an owner who does not live in the US and has no Social Security number. The rules below apply whether the owner is an individual founder or a company abroad that owns the US entity.
First decision: a US company or your existing company
Most US business accounts open to non-residents are accounts for a US company. If you already run a company abroad and only need to collect dollars from US customers, a new US entity may be more than you need.
| Route | Suits | What you need | What follows |
|---|---|---|---|
| Form a US LLC or corporation and open an account for it | Founders who will sell, hire or raise money in the US | State formation documents, an EIN, owners' passports, an operating address | US tax filings for the new company, such as Form 5472 for a foreign-owned single-member LLC |
| Open an account for your existing foreign company | Exporters and trading companies that only need to be paid in USD | Home-country company documents, owners' passports, often Form W-8BEN-E | No new US company; the bank decides whether it accepts foreign entities |
| Get US account details from a fintech provider | Companies whose country is on the provider's eligibility list | Company documents and owners' identity documents | Funds held with the provider's partner banks under its own license |
Source: Helm Editorial Team, from SelectUSA's banking checklist and IRS guidance. As published on 29 October 2026.
This guide covers the first route in detail. For the second and third, see our guide to a US bank account for a foreign company. Take tax advice in both countries before forming a US entity: a US company is a separate taxpayer with its own filings.
Step 1: form the US company
US companies are formed under state law, not federal law. You file formation documents with one state, appoint a registered agent there to receive legal papers, and adopt an operating agreement (for an LLC) or bylaws (for a corporation). SelectUSA's checklist notes that state formation documents can be processed within 24 to 48 hours.
The address problem
A registered agent's address is not an operating address. Mercury's published eligibility rules state that registered agent addresses, P.O. boxes and UPS Store addresses are not accepted as the company's principal place of business, although a residential or an international address is. SelectUSA's checklist states that most US banks will not open a business account without a physical US address, and that some accept a registered agent or virtual mailbox. Check the bank's rule before you choose an address, because the address on the application has to match the address on your documents.
Beneficial ownership reporting
Under FinCEN's interim final rule of March 2025, adopted in a final rule of 11 August 2026, companies formed in the US and US persons are exempt from beneficial ownership information (BOI) reporting under the Corporate Transparency Act. Foreign entities registered to do business in a US state must still file, but they do not report US persons as beneficial owners. This is separate from the bank's own ownership checks, which still apply in full.
Form 5472 for a foreign-owned single-member LLC
A single-member LLC owned by a non-resident is usually a disregarded entity, meaning it does not file its own income tax return. Since tax years beginning on or after 1 January 2017, it must still file Form 5472 attached to a pro forma Form 1120, reporting transactions with its foreign owner, including capital contributions and distributions. The penalty for a late or missed Form 5472 is $25,000 per return for tax years after 31 December 2017. Opening the bank account and funding it with the owner's money is itself a reportable transaction.
Step 2: get an EIN without a Social Security number
Banks ask for the company's EIN letter for tax reporting. A non-resident cannot use the IRS online EIN application, which is reserved for applicants with a US presence. The IRS instructions for Form SS-4 set out the other channels.
| Channel | Details for international applicants |
|---|---|
| Telephone | 267-941-1099, not toll-free, 6:00 a.m. to 11:00 p.m. Eastern time, Monday through Friday |
| Fax from outside the US | 304-707-9471 |
| Fax from inside the US | 855-215-1627 |
| Internal Revenue Service, Attn: EIN International Operation, Cincinnati, OH 45999 | |
| Online | Not available to applicants with no legal residence, principal place of business or principal office in the US |
| Responsible party without an SSN or ITIN | Enter "foreign" or N/A on line 7b if the responsible party does not have and is not eligible for an SSN or ITIN |
| Daily limit | One EIN per responsible party, per day, across all channels |
Source: IRS, Instructions for Form SS-4, as published on 29 October 2026.
The responsible party is the individual who controls the company's funds and assets, and must be an individual, not another company. An ITIN, the Individual Taxpayer Identification Number, is a US tax number for people who cannot get a Social Security number; you do not need one to obtain an EIN.
SelectUSA's checklist notes that when the signing officer is not a US citizen the EIN could take two to three weeks, so build that into your timeline. Write the company's legal name on Form SS-4 exactly as it appears on the formation documents: the EIN letter is one of the documents the bank will compare against everything else.
Step 3: choose a bank or fintech that accepts non-resident owners
Providers fall into three groups. The test for each is the same: does it accept your company's form, your owners' countries and your type of business?
| Provider type | How non-residents are treated | Published example |
|---|---|---|
| Traditional US bank | Policy set by each bank; in some cases an in-person meeting, often with a designated US officer | SelectUSA: a bank account normally takes around three weeks to open; minimum deposits for foreign clients vary |
| Fintech business account with a partner bank | Online application; often only for US-formed companies | Mercury: the company must be formed and registered in the US or a US territory; owners do not need to be US citizens or residents; some founder countries are not supported |
| Cross-border payment account with US details | May accept companies registered abroad; country lists apply | Wise: USD account details are not available to business accounts with an address in Bangladesh, Cameroon, China, Nigeria or Pakistan |
Sources: SelectUSA banking checklist; Mercury, Eligibility and requirements for opening a Mercury account; Wise, Can I get USD account details. As published on 29 October 2026.
Read the provider's own eligibility page before you apply, not a third-party summary, and look for three lists: accepted countries of registration, countries where owners may not live, and restricted industries.
Ask, too, whether the account is a deposit at a bank in your company's name or a balance with a non-bank. The protection differs, as our guide to the USD account for international business explains.
Step 4: prepare the documents
Federal rules set the minimum a bank must collect, and every provider adds its own. Under FinCEN's customer due diligence rule, the bank must identify and verify each individual who owns 25% or more of the company, directly or indirectly, and one individual with significant responsibility to control or manage it. For an owner who is not a US person, the identification number can be a US taxpayer identification number, a passport number with its country of issuance, an alien identification card number, or the number of another current government-issued document that shows nationality or residence and carries a photo.
| Document | Notes |
|---|---|
| EIN confirmation letter | Required by banks for tax reporting |
| Articles or certificate of incorporation or organization | From the state where the company was formed |
| Operating agreement or bylaws, and organizational minutes | Show who can act for the company and open accounts |
| Certificate of good standing or incumbency | Confirms the company is active and who its officers are |
| Beneficial ownership details | Every individual with 25% or more, plus one controlling individual |
| Two forms of ID for each owner and the company representative | At least one with a photo; a passport for non-US persons |
| Proof of each owner's address | Foreign bank statements are preferred; utility bills may be accepted |
| A US business address | Check whether the bank accepts a registered agent or virtual mailbox |
| Evidence of the business | Website, contracts, invoices and expected monthly volumes |
Sources: SelectUSA banking checklist; 31 CFR 1010.230; FFIEC BSA/AML Examination Manual, beneficial ownership. As published on 29 October 2026.
SelectUSA's checklist notes that apostille requirements are uncommon but may apply in specific cases. An apostille is a certificate that authenticates a public document for use in another country. If any document is not in English, have a certified translation ready.
Step 5: apply, answer review questions and test the account
The application is where most delays start. Reviewers compare every field against the documents, so a spelling difference between a passport and a formation document, or an address that does not match, leads to questions.
- Describe the trade precisely. Name what you sell, your main customers' and suppliers' countries, and expected monthly amounts in and out. A first payment far larger than the volumes you declared can trigger a review.
- Use the legal name. SelectUSA's checklist advises using the company's legal name, not a trading name, because payment processors may require the names to match.
- Set signing rules. Decide in advance who can approve payments, whether two signatures are needed and above what amount.
- Answer in writing. Keep answers short, factual and supported by a document, such as an invoice or contract.
- Expect follow-up questions. Reviewers commonly ask why a US company is needed, who the first customers are, where the opening deposit comes from and how the owners are connected to any holding company. Prepare a one-page note that answers these with documents attached.
- Test before you switch. Ask one customer for a small ACH payment and one for a wire, then check what arrived before you update all your invoices.
| Common cause of delay | How to avoid it |
|---|---|
| Names or dates that differ between documents | Check every document against the passport before you apply |
| Registered agent or P.O. box given as the operating address | Give an address the provider accepts, with proof |
| Ownership that is unclear through holding companies | Provide a chart down to every individual with 25% or more |
| Owners or counterparties in countries the provider restricts | Check the provider's country lists first |
| Business activity that is hard to understand | Attach a sample invoice and a short description of the trade |
Source: Helm Editorial Team, from SelectUSA's banking checklist, Mercury's eligibility page and 31 CFR 1010.230. As published on 29 October 2026.
After the account opens: filings and good habits
The account is the start of a set of US obligations, not the end.
| Obligation | Who it applies to | Detail |
|---|---|---|
| Form 5472 with a pro forma Form 1120 | A US single-member LLC owned by a non-resident | Reports transactions with the foreign owner, including contributions and distributions; $25,000 penalty per missed return |
| BOI report | Foreign entities registered to do business in a US state | Domestic US companies are exempt since the March 2025 interim final rule |
| Keeping documents current | Every account holder | Tell the bank about new owners of 25% or more, new controllers and address changes |
| Sanctions screening | Every payment | Expect questions on payments that involve countries or parties under US sanctions |
Sources: Akerman, New reporting requirements for foreign-owned disregarded entities; Davis Polk, FinCEN eliminates beneficial ownership reporting requirements for U.S. companies. As published on 29 October 2026.
Keep the company's books from the first transaction, including the owner's initial funding. Re-check the bank's terms each year, because providers change their country lists and product rules. For the wider picture of the US market, see our United States country guide.
If you do not want a US company: where Helm fits
Many non-resident founders form a US company only to receive dollars from US customers. A trading company that does not plan US operations can often avoid the second company altogether.
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm gives the company itself USD account details in its own name: a routing and account number that receives ACH, Fedwire and SWIFT payments, with EUR and GBP details alongside. Collections from buyers abroad can be held in USD or converted, suppliers can be paid by SWIFT or local rails with the rate, fee and expected arrival shown before sending, and USDC and USDT can be received and converted to USD inside the account.
Each account has a named account manager, and review questions are answered in writing within one business day. Check Helm's eligibility for your country of registration. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a non-resident open a US business bank account?
Yes. SelectUSA states there is no legal bar on foreign entities having US bank accounts, but each bank sets its own policy. Most accounts open to non-residents are for a US company with an EIN, and some banks require an in-person meeting.
Do I need a US company to open a US business bank account?
For most US banks and fintech business accounts, yes. Mercury, for example, requires the company to be formed and registered in the US or a US territory, although its owners do not need to be US citizens or residents. A company abroad can instead get US account details from providers that accept its country of registration.
How does a non-resident get an EIN?
By calling the IRS on 267-941-1099 between 6:00 a.m. and 11:00 p.m. Eastern time, Monday to Friday, or by faxing Form SS-4 to 304-707-9471 from outside the US. The online application is not available to applicants with no US residence, office or place of business.
Do I need an SSN or ITIN to get an EIN?
No. The IRS instructions for Form SS-4 allow the applicant to enter "foreign" or N/A on line 7b when the responsible party does not have and is not eligible for an SSN or ITIN.
Can I open a US business bank account online as a non-resident?
Some fintech providers accept online applications from non-resident owners of US companies. Traditional banks set their own rules, and SelectUSA notes that some require an in-person meeting.
Can I use my registered agent's address on the bank application?
Often not. Mercury states that registered agent addresses, P.O. boxes and UPS Store addresses are not accepted as a principal place of business. SelectUSA notes that some banks accept a registered agent or virtual mailbox, so check the bank's rule first.
What documents do non-residents need to open a US business account?
Expect the EIN letter, formation documents, operating agreement or bylaws, a certificate of good standing, ownership details for each 25% owner, two forms of ID with at least one photo, proof of address and evidence of the business. Foreign bank statements are preferred as proof of address.
How long does it take to open a US business bank account from abroad?
SelectUSA's checklist notes that state formation can take 24 to 48 hours, an EIN two to three weeks when the signing officer is not a US citizen, and a bank account around three weeks. Phone EIN applications and fintech providers can be faster.
Does a foreign-owned LLC have to file anything with the IRS?
Yes. A single-member LLC owned by a non-resident must file Form 5472 with a pro forma Form 1120, reporting transactions with its owner such as contributions and distributions. The penalty for a missed or late Form 5472 is $25,000 per return.
Does my US LLC need to file a beneficial ownership (BOI) report?
Not if it was formed in the US. FinCEN's March 2025 interim final rule exempts companies formed in the US from BOI reporting; foreign entities registered to do business in a US state must still file.
References
- IRS: Instructions for Form SS-4
- SelectUSA (International Trade Administration): Banking checklist
- 31 CFR 1010.230: Beneficial ownership requirements for legal entity customers
- FFIEC BSA/AML Examination Manual: Beneficial ownership requirements for legal entity customers
- Davis Polk: FinCEN eliminates beneficial ownership reporting requirements for U.S. companies and U.S. persons
- Akerman: New reporting requirements for foreign-owned disregarded entities have taken effect
- Mercury: Eligibility and requirements for opening a Mercury account
- Wise: Can I get USD account details?
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.