EIN, How To

Open a US Bank Account with an ITIN for Non-Residents

Open a US Bank Account with an ITIN for Non-Residents

Opening a bank account in the United States is a necessary and important process for managing your business. You can open a bank account in the US, which is a part of owning a company in the US, with us under license. The mechanisms that supervise commercial ventures in the United States require bank accounts for company establishment. You may not open the requested bank account with your own means. Even if you have opened a bank account, you will be detected, and your bank account will be closed by the authorities within a short time. In the United States, you must have a bank account in which you can make your company transactions and money transfers.

Requirements for Opening a Bank Account in the US

  1. Proof of Address

We have mentioned above about transactions that you cannot perform unless a bank account is available. The only way to overcome these obstacles is to have a bank account in America. There are requirements for having a bank account. One of these requirements is whether you look resident or work with Registered Agents like us who can do this for you.

  • Having an ITIN Number

ITIN stands for “Individual Taxpayer Identification Number.” It is essential to have an individual tax number to open a bank account in the US. If you are a non-resident, you can apply for ITIN. The ITIN is a processing number issued by the IRS for individuals who are ineligible for an SSN. With an ITIN, some banks will allow you to open a bank account, using the ITIN instead of SSN.

  • Why you should obtain an ITIN?

People who are familiar with America from popular cultures, news, movies or series are generally familiar with the concept of “Social Security Number”. Social security in America is a very old and rooted concept. Compared to the social security number, ITIN (individual tax number) is very new. The update of ITIN as the year came into force in 1996. ITIN is the number assigned to those who need to declare tax in the United States but do not have a social security number. As it is known, those who can have Social Security Number are as follows:

  • US Citizens
  • People with permanent residence in the US
  • Persons who have received a work permit in the US and whose authorization has not expired

People who do not have the above qualifications and wish to establish a company and open a bank account in the United States must have an ITIN number.

If you need an ITIN for bank account, at ein-itin.com, we are ready to help you to get it as quick as possible.  We offer you a simple and quick process. For further questions, do not hesitate to contact us!