US business bank account for a non-resident LLC owner: what you need and where to apply

Written and fact-checked by Alan Maldonado · Updated Oct 23, 2026 · 4 min read

Once the LLC is formed and you have its EIN, the next step is an account in the LLC’s name. It keeps business money apart from yours, and its statements are the record you need for the yearly Form 5472, which reports every dollar you put in or take out.

What US law asks for

Before opening an account, a bank must collect at least your name, date of birth, address and an identification number. For a non-US person, that number can be a US taxpayer number, a passport number and country of issuance, or the number of another government-issued photo ID.

Because the account belongs to an LLC, the bank also identifies its owners: every person with 25 percent or more, plus one person who controls the company. As the sole owner, you are both.

That is the floor. Each bank verifies identity based on its own risk assessment, so it can ask for more documents or decline residents of some countries.

Documents to have ready

• The formation document the state approved (Articles of Organization or Certificate of Formation).
• The EIN letter (CP 575 or 147C). See how to get an EIN.
• Your passport.
• Proof of your home address, where you actually live. Registered agent addresses, P.O. boxes and virtual mailboxes are usually refused.
• A clear description of the business: what you sell, to whom, and where the money comes from.

The tax form: W-8BEN from you, not W-9 from the LLC

When you open the account you’ll be asked for a tax form. A single-member LLC is a disregarded entity, and the IRS says “the owner of a disregarded entity (including an individual), rather than the disregarded entity itself, must submit the appropriate Form W-8BEN.” As a non-US owner, that’s you, on Form W-8BEN.

FDIC insurance and fintechs

The FDIC insures up to $250,000 per depositor, per insured bank, for each account ownership category, if the bank fails. Two points matter with a fintech:

• A fintech is not a bank, and the FDIC says non-bank companies are never FDIC-insured. The insurance covers the failure of the partner bank, not of the fintech.
• For coverage to pass through to you, the records have to show whose money each dollar is.

Options for non-resident owners

What each provider’s own pages say, read October 23, 2026. Terms change often; check before you apply.

Mercury asks that the company have “existing or planned operations in the U.S.” and a US or international address for its principal place of business, but not a registered agent address, P.O. box or UPS Store. Domestic and international wires in USD cost $0. Its prohibited list includes Venezuela, Nicaragua, Haiti, Nigeria and Pakistan, among others. Mexico, Colombia, Argentina, Peru, Chile, Spain and India are not on it.

Relay has Starter at $0/mo and Grow at $30/mo. Its documents page asks each beneficial owner for a “Physical U.S. address (no PO boxes, no virtual mailboxes)” and the company for a US phone number. The same page lists extra information for non-US resident owners, so ask Relay before applying if you have no US address. Relay excludes owners who hold citizenship or residency in any of about 30 countries, including Venezuela, Nicaragua and Haiti.

Wise Business charges a single set-up fee of $31 one-time. Receiving USD by ACH is $0; a USD wire costs $6.11. It’s good for getting paid and converting currencies; it isn’t a bank.

Payoneer is common for getting paid by marketplaces and foreign clients. Withdrawing USD to a US bank costs $1.50; withdrawals with a currency conversion cost 1.2% to 4%.

Many owners keep two: a main account at a fintech with an insured partner bank, and Wise or Payoneer to get paid and convert currencies.

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Mercury · Relay · Wise Business · Payoneer

Tips to get approved

• Make everything match: the LLC’s name on the state document, the EIN letter and the application.
• Use your real home address, not your registered agent’s or a virtual address.
• Explain the business in detail: what you sell, to whom and why you need a US account.
• If you’re declined, try another provider. Each one assesses risk its own way.

Sources

Checked October 23, 2026.

• 31 CFR §1020.220 (customer identification) and §1010.230 (beneficial owners of legal entities), Cornell LII
• FDIC, Understanding deposit insurance and Banking with third-party apps
• IRS, Instructions for Form W-8BEN
• Mercury, pricing, eligibility and prohibited countries
• Relay, pricing, required documents and prohibited countries
• Wise, business pricing and verify your US business
• Payoneer, pricing

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