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Question – I wanted to know if I could open a business bank account without a ein#?
Our Answer – As long as you are a sole proprietorship and have no employees, banks are allowed to open business accounts with just the owner’s SSN. With that said however, some banks either forget this or have rules that say the business has to have an EIN. I think most often though, they are just used to seeing the EIN and forget that an SSN can be used.
Welcome! My name is Greg Bouhl, and I have over 21 years as an entrepreneur, educator, and business advisor, where I worked with over 1,600 entrepreneurs to help them start and grow their businesses.
As a small business advisor, I got fed up with clients finding inaccurate and outdated information when they were researching how to start a business online, so I launched StartingYourBusiness.com to be a trusted resource.
I'm constantly adding and revising this site, but if there is a question you have about starting a business or need help finding something, please ask!
Rules and regulations for starting a business change frequently. While we do our best to keep this information fully up-to-date, its very difficult to stay on top of the changes for every state. Also, this site is for informational purposes only and does not provide legal or tax advice.
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