How to Open a Bank Account for a Church-Controlled Organization

Opening a bank account for a church-controlled organization is the same process as opening a bank account for a church or for a business. To open a bank account for a church-controlled organization, you will need the following:
-The initial formation documents for the church-controlled organization.
-The employer identification number for the church-controlled organization.
-A list of the principles of the organization.

Further, for each of the principles of the organization, you will need:
-Their legal name.
-Mailing address.
-Social security number or ITIN.

Once you have these documents in hand, the principles of the organization can meet with a business banking agent. A business banking agent will then walk them through the process of creating a business bank account, which will usually take a couple of hours. Before going to the bank your church-controlled organization will need to obtain a Federal EIN in order to apply to open the bank account. An EIN can be acquired online in about an hour, or through the mail. But through the mail, it may take four to six weeks.

Written by Maurice Mallory