How recent must proof of address be?

Commonly within 90 days, and it must show your name and residential address. Utility bills and bank statements are usually accepted; mobile phone bills and screenshots frequently are not.

Who counts as a beneficial owner?

Generally anyone owning 25% or more, plus anyone exercising significant control. That means passports and address proof for people who may not be involved in the application itself, so collect them before you start.

Usually yes, provided they are complete, legible and uncropped. The frequent failures are photographs at an angle, cropped edges that cut off document numbers, and glare obscuring text.

US business banking: eligibility, approval and what to do when you're rejected

Guide · 1 min read

Your KYC document pack: exactly what to prepare

Most banking delays are document problems, not decisions. Preparing the pack properly before applying removes most of them.

The short answer

US institutions onboarding a business typically require the formation certificate, EIN confirmation, signed operating agreement, passports for beneficial owners at 25% or above, proof of each owner's residential address, and a specific description of the business.

Document	What makes it acceptable
Formation certificate	Issued by the state, exact legal name, uncropped
EIN confirmation	CP 575 or 147C letter, name matching the certificate
Operating agreement	Signed and dated, listing every member
Passport	Photo page, unexpired, all four corners visible
Proof of address	Name and residential address, generally within 90 days
Business description	Specific: what you sell, to whom, expected monthly volume

The business description is a document too

Treat it as seriously as the paperwork. Compliance reviewers are establishing what you sell, who pays you, and whether the money flow is coherent. Two specific sentences answering those questions materially improve outcomes — see why applications get declined.

Frequently asked questions

How recent must proof of address be?: Commonly within 90 days, and it must show your name and residential address. Utility bills and bank statements are usually accepted; mobile phone bills and screenshots frequently are not.
Who counts as a beneficial owner?: Generally anyone owning 25% or more, plus anyone exercising significant control. That means passports and address proof for people who may not be involved in the application itself, so collect them before you start.
Can I use scans?: Usually yes, provided they are complete, legible and uncropped. The frequent failures are photographs at an angle, cropped edges that cut off document numbers, and glare obscuring text.

Sources

FinCEN — Customer Due Diligence rule

Last reviewed August 23, 2026. Verify against the primary source before acting.

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