US Bank Account and EIN for Foreign Founders: Step-by-Step Guide for 2026

Two things stand between a founder abroad and a working US company: a federal tax number and a bank account that can receive customer payments. The first is easier than most people expect; the second depends on the bank. This guide to the US bank account and EIN for foreign founders explains how to get an Employer Identification Number without a Social Security number, which lines of Form SS-4 trip people up, and what banks must collect before they open an account. It reflects the IRS pages and Form SS-4 instructions available in October 2026.

What is an EIN and who needs one?

An EIN is a federal tax ID number for businesses and other entities. You need one if you have employees, owe employment or excise taxes, or withhold tax on income paid to a nonresident alien. You also need one to operate a partnership, LLC or corporation (see our entity types and tax forms guide). Even if you do not need one for federal tax reasons, you can request one for banking or state tax purposes.

The IRS says to form the legal entity with the state first, and to enter the legal name exactly as it appears on the formation documents. The IRS system accepts only letters, numbers, hyphens and ampersands in a business name, and street addresses are limited to 35 characters.

US bank account and EIN for foreign founders: how to apply for the EIN

For US-based applicants, the IRS quotes about 4 business days for a fax reply and about 4 weeks by mail; for international applicants, confirm current timing on the IRS page.

How to complete Form SS-4 as a foreign applicant, step by step

1. Form the entity. Register it with the state before you apply, as described in our checklist to start a US business and the Illinois step-by-step guide.
2. Lines 1 to 4: name and address. Use the legal name, and for a mailing address outside the US enter the city, province or state, postal code and the country name, unabbreviated.
3. Lines 7a and 7b: responsible party. Name the individual who ultimately owns or controls the entity. The responsible party must be a natural person unless the applicant is a government entity. Enter an SSN or ITIN if you have one; if you have none and cannot get one, enter "foreign" or "N/A." An entry is required.
4. Line 9a: type of entity. A wholly foreign-owned US disregarded LLC requesting its number for Form 5472 purposes checks "Other" and writes "Foreign-owned U.S. disregarded entity-Form 5472." If the LLC is electing corporate or S status, the instructions explain a different entry.
5. Line 10: reason for applying. Choose one box, such as starting a new business or banking purposes.
6. Line 11: date started. For foreign applicants this is the date the business began or was acquired in the United States.
7. Sign and send. If you want your accountant to receive the EIN and answer questions about the application, complete the Third Party Designee section; the designee's authority ends when the EIN is released.
8. Keep the confirmation. Save the notice. If a return is due before the number arrives, write "Applied For" and the date.

Nominees are not authorized to apply for an EIN, so the person in control, or an authorized representative, must be the one applying. The IRS cannot cancel an EIN but can deactivate it, and an entity should have only one.

What can you do with the EIN right away?

The IRS says you can use your EIN immediately to open a bank account, apply for business licenses and file a return by mail. You may need to wait up to two weeks to e-file a return, make electronic tax deposits or pass the IRS TIN Matching Program. If the responsible party changes, notify the IRS on Form 8822-B within 60 days.

What do banks require to open a US business account?

Federal rules require a bank to run a Customer Identification Program. Before opening an account it must obtain, at minimum:

• Name of the customer
• Date of birth for an individual
• Address: a residential or business street address for an individual, and a principal place of business, local office or other physical location for an entity
• Identification number: for a non-US person, one or more of a taxpayer identification number, a passport number and country of issuance, an alien identification card number, or another government-issued document showing nationality or residence with a photograph

For a foreign business with no identification number, the bank must request other government-issued documentation certifying that the business exists. For legal entity customers, banks must also identify each individual who owns 25% or more of the equity and one person with significant control over the entity. Beyond these minimums, each bank sets its own policy on in-person visits, minimum balances and which countries it serves, so ask before you travel.

Documents and information you need

• EIN confirmation, formation documents and operating agreement or bylaws
• Passports for each owner and manager, and proof of address
• Ownership details for anyone with 25% or more, and one control person
• Description of the business, expected activity and sources of funds
• For a foreign parent: its incorporation documents and a certificate of good standing, if the bank asks

A worked example

Rohan, in Bengaluru, forms a single-member Illinois LLC on a Monday. On Tuesday he completes Form SS-4 with his Bengaluru mailing address, writes "foreign" on line 7b because he has no SSN or ITIN, checks "Other" on line 9a with the foreign-owned disregarded entity wording, and sends it to the IRS international operation by fax with a fax number for the reply. He designates his accountant to receive the EIN. When it arrives, he travels to Kane County for two days, brings his passport, the formation papers, the EIN notice and the operating agreement, and opens an account at a community bank, wiring US$10,000 as the first capital contribution. Because he is the foreign owner of a US disregarded entity, the contribution is a reportable transaction for Form 5472 later, as our foreign-owned LLC guide explains. Timing and amounts are hypothetical.

Mistakes to avoid

• Applying online with a borrowed SSN or with a nominee as responsible party.
• Using a business name that differs from the state record.
• Requesting several EINs for one entity.
• Making the bank trip before the EIN is in hand.
• Moving large sums without recording them as contributions or loans, which complicates Form 5472; see the subsidiary guide.

How we can help

We prepare Form SS-4, act as the designee to receive the EIN, and coordinate formation with your attorney. We also set up the books so contributions and distributions are tracked from the first wire. We cannot guarantee that a bank will open an account. Our firm is based in the Aurora, Illinois area, and we can help you prepare the paperwork for a short visit to a Fox Valley bank. See business formation and registrations, bookkeeping and accounting and our guide to ITIN and SSN.

Frequently asked questions

General information only. It is not tax, legal, accounting or immigration advice for your situation, and rules change; confirm the current rules with the official source or a licensed professional in the relevant country.