Starting a US business: the complete founder's guide
Guide · 2 min read
Your first 30 days: the setup checklist
Most of the delay founders experience is sequencing, not processing. One step gates everything and should start on day one.
The short answer
After forming a US company, apply for the EIN immediately because banking and payment processing both depend on it. Use the waiting period to sign the operating agreement and assemble banking documents, then open the bank account and apply for payment processing once the EIN arrives.
Week one
- Apply for the EIN. Online if you have an SSN; Form SS-4 by fax if not.
- Write and sign the operating agreement. Banks will ask for it.
- Confirm your registered agent is active and knows how to reach you.
- Put the compliance dates in a calendar — annual report, franchise tax, and Form 5472 if foreign-owned.
Weeks two and three, while the EIN processes
- Assemble the banking pack — formation certificate, operating agreement, passport, proof of address.
- Write your business description in two specific sentences. This is what decides bank and processor applications.
- Decide your accounting method and set up a place for receipts, even if it is a folder.
- Check platform eligibility for whatever you intend to sell through.
Week four, once the EIN arrives
- Save the CP 575 immediately. The IRS issues it once.
- Open the business bank account.
- Apply for payment processing once the account can receive payouts.
- Separate everything. From the first transaction, business money moves only through business accounts.
Everything in one place
Formation, EIN, banking introductions and a compliance calendar that knows your dates — instead of six vendors and a spreadsheet.
Create your accountFrequently asked questions
- What should I do on day one?
- Apply for the EIN. It is the bottleneck for everything downstream, and for founders without an SSN it is measured in weeks rather than minutes. Everything else can be done in parallel while it processes.
- Can I open a bank account before the EIN arrives?
- No. No serious institution will open a business account without the company's federal tax identifier. This is precisely why the EIN should be the first thing you start, not the third.
- What can wait?
- Bookkeeping software, business credit building, trademarks and insurance can all wait until there is revenue. What cannot wait is the EIN, and putting your first compliance deadlines in a calendar before you forget the company exists.
Sources
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