Georges Marciano for Governor of California 2010

March 3, 2009

Bank of America Broke its own Rules to Open a Business Account?

Filed under: Uncategorized — Georges Marciano @ 1:58 pm

What do I need to open a new business checking account?

Eligibility requirements and the required documentation to open a business checking account vary by ownership type and the state in which the account is opened. Specific information can be obtained at a banking center, by phone or through the online application process.

What You Need to Open an Account

 

 

 

Sole Proprietorship:

 

·         SSN or Business Tax ID #

·         Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name, showing both business and owner’s name, or

·         Business License showing both business and owner’s name

 
   

 

Corporation:

 

·         Business Tax ID #

·         Articles of Incorporation or Certificate of Incorporation

·         Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation

 

If you’re a nonprofit corporation, you need an IRS ruling letter of tax exemption under the IRC 501C. If you’re unable to provide the IRS ruling letter, you must obtain a notarized statement on organization letterhead from the officers or directors, stating that the organization is exempt from tax reporting under IRC 501C.

 
 
 

 

 

 

 
   

 

Limited Liability Company:

 

·         Business Tax ID #

·         Articles of Organization

·         Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Organization or Certificate of Formation

 
   

 

General Partnership:

 

·         Business Tax ID #

·         Partnership Agreement showing business name and name of partners, or

·         Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name, showing business name and name of partners

 

 

Limited Partnership:

 

·         Business Tax ID #

·         Limited Partnership Agreement showing business name and name of partners, or

·         Business organizing document filed with and certified by state official, such as Certificate of Limited Partnership, showing business name and name of partners

 
   

 

Limited Liability Partnership:

 

·         Business Tax ID #

·         Limited Liability Partnership Agreement showing business name and name of partners, or

·         Business organizing document filed with and certified by state official, such as Certificate of Limited Liability Partnership, showing business name and name of partners

 
   

 

Unincorporated Association:

 

·         Business Tax ID #

·         Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name

·         Organizing document, such as Articles of Association (if available)or bylaws

·         Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Association or bylaws

 
   

 

Helpful Links

 

·         Unsure of your business entity type? Visit our Small Business Resource Center for information about determining your company’s legal structure.

·         Don’t have a business license? Find out where to get one at the Small Business Association website.

·         Don’t have an Employer Identification Number (EIN)? You can get more information and apply for an EIN online at the Internal Revenue Service website.

 
   

 

Online Application Restrictions

 

You must visit a Banking Center to open a business account if:

·         You are not a U.S. citizen. However, if one or more owners of the business are US citizens, those owners may submit an application online and, if approved, the non-citizen owners may be added to the account at a Banking Center.

·         Your business provides money services such as check cashing, issuing money orders or Travelers Cheques, exchanging currency, or wiring funds.

·         The principal office of your business is outside the U.S.

·         Your business is a municipal/government agency.

 

 

 

 

 

 

 

·         SSN or Business Tax ID #

·         Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name, showing both business and owner’s name, or

·         Business License showing both business and owner’s name

 

 Back to top

 

Helpful links

Online application restrictions

 

 

Corporation:

 

·         Business Tax ID #

·         Articles of Incorporation or Certificate of Incorporation

·         Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation

 

If you’re a nonprofit corporation, you need an IRS ruling letter of tax exemption under the IRC 501C. If you’re unable to provide the IRS ruling letter, you must obtain a notarized statement on organization letterhead from the officers or directors, stating that the organization is exempt from tax reporting under IRC 501C.

 
 
 

 

 

 

 

 Back to top

 

Helpful links

Online application restrictions

 

 

Limited Liability Company:

 

·         Business Tax ID #

·         Articles of Organization

·         Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Organization or Certificate of Formation

 

 Back to top

 

Helpful links

Online application restrictions

 

 

General Partnership:

 

·         Business Tax ID #

·         Partnership Agreement showing business name and name of partners, or

·         Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name, showing business name and name of partners

 

 Back to top

 

Helpful links

Online application restrictions

 

 

Limited Partnership:

 

·         Business Tax ID #

·         Limited Partnership Agreement showing business name and name of partners, or

·         Business organizing document filed with and certified by state official, such as Certificate of Limited Partnership, showing business name and name of partners

 
   

 

Limited Liability Partnership:

 

·         Business Tax ID #

·         Limited Liability Partnership Agreement showing business name and name of partners, or

·         Business organizing document filed with and certified by state official, such as Certificate of Limited Liability Partnership, showing business name and name of partners

 
   

 

Unincorporated Association:

 

·         Business Tax ID #

·         Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name

·         Organizing document, such as Articles of Association (if available)or bylaws

·         Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Association or bylaws

 
   

 

Helpful Links

 

·         Unsure of your business entity type? Visit our Small Business Resource Center for information about determining your company’s legal structure.

·         Don’t have a business license? Find out where to get one at the Small Business Association website.

·         Don’t have an Employer Identification Number (EIN)? You can get more information and apply for an EIN online at the Internal Revenue Service website.

 
   

 

Online Application Restrictions

 

You must visit a Banking Center to open a business account if:

·         You are not a U.S. citizen. However, if one or more owners of the business are US citizens, those owners may submit an application online and, if approved, the non-citizen owners may be added to the account at a Banking Center.

·         Your business provides money services such as check cashing, issuing money orders or Travelers Cheques, exchanging currency, or wiring funds.

·         The principal office of your business is outside the U.S.

·         Your business is a municipal/government agency.

 

 

 

 

 

So how did Bank of  America let someone open all the bank accounts in my name, corporation name without my knowledge, without my authorization?

                                                                                                                             

http://www.bankofamerica.com/help/index.cfm?template=faqs.cfm&lob=bus_deposits#q1

 

Below is the Signature Card Master Agreement right from the Bank of America website:

https://www2.bankofamerica.com/efulfillmentODAO/new_window_np.cfm?appURL=https://www2.bankofamerica.com/efulfillment/&showdaddoc=05-11-2000ED&daddoc2use=20081101&type=1&view=htm#3b

B. Business Accounts

The Master Agreement – also called a signature card that you sign when you open a business deposit account, states the following:

“You begin or continue a deposit account relationship with us by giving us information about your business and by signing below. The written information we give you is part of your agreement with us and tells you the current terms of our deposit accounts. We may change the agreement at any time. We inform you of the changes that affect your rights and obligations.

“You acknowledge receipt of the deposit agreement. The agreement includes a provision for alternative dispute resolution.

“You authorize each person who has signed on the reverse to operate each account opened under this master agreement. The authority to operate each account includes authority to sign checks and other items and to give us other instructions to withdraw funds, to endorse and deposit checks and other items that are payable or belong to you, and to transact other business relating to each account. We may rely on this authorization for each account until we receive written notice revoking the authorization at the office where we maintain the account.

“By signing below, each of you certifies under penalty of perjury that the tax reporting information set forth below is true, correct and complete. The Internal Revenue Service does not require your consent to any provisions of this document other than the certifications required to avoid backup withholding.”

So How did they allow not only to have accounts open without signature cards as stated in the evidence from Bank of America in my case but they also allowed signature counts that were either forged or missing letters of corporations?

 

 

 

 

 

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