If you're planning on opening a bank account in the name of your new LLC, you will absolutely need a new EIN (Tax ID) for your new entity. You may already have an EIN as a sole proprietor, but if you are forming a new LLC, you need a new EIN specifically for that LLC. Many of our competitors, whose LLC formation services only add this as an up-sell (or as part of their more expensive packages) are not providing everything you need!

At BetterLegal, we've decided that we'd rather present our customers with one complete business-formation option than a confusing a la carte menu. For that reason, your EIN is included: standard.

Here are a few screenshots from various popular banks regarding their business bank account requirements

Did this answer your question?