What You Need to Get Started
In addition to a Tax ID or Social Security Number, signatures of all authorized signers, and copies of Driver’s License for all signers on the account, you will also be required to provide us with the following documentation in order to open a business account with FFCU:
Unincorporated Association or Tax Exempt Organization
- Certified copy of Resolution of Association or Organization
- Statement confirming non-profit status in accordance with IRS code (if applicable)
- Certified copy of Sole Proprietorship
- Filed DBA Paperwork (Fictitious Name Certificate) - if other than member’s own name, not less than thirty (30) days old
Limited Liability Company
- Certified Copy of Resolution of Limited Liability Company
- Articles of Organization
- Organizational/Operating Agreement
- Certified Copy of Resolution of Partnership
- Partnership Agreement and Filed Fictitious Name Certificate if limited partnership
In 2016 the Financial Crimes Enforcement Network (FinCEN) issued the Customer Due Diligence requirement to financial institutions. This regulation by FinCen amended existing rules and was intended to be a fundamental governmental effort to prevent and prosecute those guilty of money laundering.
In order to remain compliant with this governmental regulation, if your business utilizes an EIN for operation, please be aware that you will be required to provide us with the Name, Address, Social Security Number, and other identifying information on ALL individuals who own, either directly or indirectly, 25% or more of the equity interest of a legal entity and for all individuals with significant responsibility to control, manage, or direct the entity.