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Business Account Requirements

SPIRE Business Account Requirements & Forms

When opening a business checking, savings or certificate account, all financial institutions are required to obtain information verifying your business, as well as the individuals associated with the business. 

The list below will help you determine the documents needed to open a business account with SPIRE.

Business Account Card Including Certification of Beneficial Owner

This four-page form includes the Business Account Card and the Certification of Beneficial Owner Form.  The Certification Form is on page 4.

Download Form

Business Documentation Checklist 

To determine if your business entity requires certification, review the checklist below.

Download Checklist

Unincorporated Associations

(i.e. Sports leagues)

  • SSN of one of the member (NO TIN issued by IRS)

 

Sole Proprietor & Political Campaigns

Full name in business name (i.e. John Smith Plumbing) and Political Campaign accounts

  • SSN of the owner or TIN of the business
  • Business/DBA in Good standing verified with the MN Secretary of State website

 

Limited Liability Company (LLC)

Single member (i.e. 1 owner)

  • SSN of owner or TIN of business
  • Good standing verified with the MN Secretary of State website that includes information of the owner
  • Beneficial Owner Certification

Multiple Members (i.e. S Corp, C-Corp) & Organized Associations or Organizations (i.e. Girl/Boy Scouts)

  • TIN of business
  • Good standing verified with the MN Secretary of State website. The website must include information on one of the signers if no obtaining articles and/or Operating Agreements. If signer's information does not appear on website, then the business must provide either the Operating Agreement/Minutes of First Written Action of Members or the "Adoption by Unanimous Written Consent" signed by all owners on the Authorization Designation form.
  • Beneficial Owner Certification (SPIRE form)
  • Submit to Business Services for Approval  

 

Partnerships

General, Limited, Limited Liability

  • TIN of partnership
  • Partnership agreement
  • Good standing verified with the MN Secretary of State website
  • Beneficial Owner Certification (SPIRE form)
  • Submit to Business Services for Approval  

 

Non-Profits & Cooperatives

  • EIN of non-profit
  • Articles of organization or Bylaws
  • Operating Agreement or Minutes of First Written Action of Members
  • Good standing verified with the MN Secretary of State website
  • IRS Ruling letter of tax exemption under the IRC 501C
  • Beneficial Owner Certification
  • Submit to Business Services for Approval

Take the Next Step

Call us

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651.268.7750 or 888.34.SPIRE
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Email Us

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Share with us where you're at and how we can help.
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Visit Us

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Open an account in person at your local SPIRE branch.

 
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