Business Types

































Types & Documentation
 
Choosing the right business structure is a crucial step when starting a business. Each type has unique characteristics and specific documentation requirements for opening accounts.
 
 
Navigating these requirements can be challenging, but our team is here to assist you every step of the way. Whether you're a sole proprietor, part of a partnership, or managing a corporation, we are committed to supporting your business needs and ensuring you have the necessary documentation to open your account smoothly.
  • Schedule C from your personal tax return
    • or State certificate of name registration
    • or EIN assignment letter
    • or Vendor’s license
  • Your personal banker will prepare a sole proprietorship resolution
  • Corporate resolution or closely held corporation agreement
  • State certificate of name registration
  • EIN assignment letter
  • Your personal banker will prepare a corporate resolution and a beneficial ownership certification form
  • Partnership agreement, including names of partners
  • State certificate of name registration
  • EIN assignment letter
  • Your personal banker will prepare a partnership resolution and a beneficial ownership certification form
  • Operating Agreement or other legal document indicating the LLC is a sole member
  • State certificate of name registration
  • EIN assignment letter or Social Security Card
  • Your personal banker will prepare a partnership resolution and a beneficial ownership certification form 
  • Operating agreement, including names of members
  • State certificate of name registration
  • EIN assignment letter
  • Your personal banker will prepare a LLC resolution and a beneficial ownership certification form
  • Corporate resolution or closely held corporation agreement
  • State certificate of name registration indicating nonprofit status
  • EIN assignment letter
  • Your personal banker will prepare a corporate resolution and a beneficial ownership certification form
  • EIN assignment letter and copy of association’s meeting minutes or letter authorizing signers, listing those authorized on the account and signed by the organization’s persons of authority
  • Your personal banker will prepare a resolution of lodge, association, or organization and a beneficial ownership certification form for your control person to sign if the business is registered with the State of Ohio
  • EIN Assignment Letter
  • Copy of association’s meeting minutes or letter authorizing signers, listing those authorized on the account and signed by the organization’s persons of authority
  • Your personal banker will prepare a resolution of lodge, association, or organization
When you open a new account, apply for a loan, or make certain changes to your account(s) or relationship with the bank, federal regulation requires that you must provide information so we may identify and verify the identity of beneficial owners of legal entity customers.
 
A Beneficial Owner is:
  • Each individual who owns 25% or more of the company
  • One individual who has significant managerial responsibility for the company
 
Required Information for Each Beneficial Owner:
  • Name
  • Address (Personal or Business)
  • Date of Birth
  • Social Security Number or Tax Identification Number
  • Photo Identification (Driver’s License, State Issued ID Card, Passport, or Alien ID Card)

Prepared for informational purposes only. Please consult with a legal and/or tax professional for specific guidance.
 
For more information on business loans, please connect with one of our CSB Commercial Lenders.

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