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DISCLOSURES

ONLINE AGREEMENTS

NMLS #402972

Member FDICFarmers National BankEqual Housing

Deposit Services

 

Business Checking

Documentation Requirements for each Business Type:

 

      Incorporated or Unincorporated Association / Organization or Non-Profit Organization

          •  Employer Identification Number (EIN) or Business Tax ID Number

          •  Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade/Assumed 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

 

      When the account is opened in the name of the organization, all of the qualification criteria of the entity type, such as corporation, of the organization

      must be met.

 

      The account can earn interest if the business qualifies as a non-profit organization. A letter of determination from the IRS or other documentation

      evidencing tax status is required.

 

      Sole Proprietorship

          •  An unincorporated business owned by an individual

          •  Owner's Social Security Number or Business Tax ID Number

          •  Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade/Assumed Name, showing both business and

             owner's name, or Business License showing both business and owner's name

 

      Corporation

          •  Business name contains "company", "corporation", "incorporated", or an abbreviation

          •  Employer Identification Number (EIN) or Business Tax ID Number

          •  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 name contains "LLC"

        •  Employer Identification Number (EIN) or Business Tax ID Number

        •  Articles of Organization

        •  Operating Agreement

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

 

      Partnerships

        Partnership Agreement (if there is no agreement, obtain a statement stating so with all partners' signatures) or filed Limited Partnership Agreement.

 

       General Partnership:

         •  An unincorporated business owned by 2 or more people

         •  Employer Identification Number (EIN) or Business Tax ID Number

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

         •  Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade/Assumed Name, showing business name and

          name of partners

 

       Limited Partnership:

         •  A partnership with general and limited partners

         •  Employer Identification Number (EIN) or Business Tax ID Number

         •  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

         •  File a certification of the partnership information with the state in which the business has its principle location

         •  Include the term limited partnership or LP in their legal name.

         •  A copy of the Limited Partnership Agreement that is not filed may be accepted until the state filing is complete

 

      Limited Liability Partnership or Professional Limited Liability Partnership:

        •  Business name contains "LLP" or “PLLP”

        •  Employer Identification Number (EIN) or Business Tax ID Number

        •  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

 

     We are unsure of our business entity type?

       Find more information at the IRS Business Structure website page: http://www.irs.gov/businesses/small/article/0,,id=98359,00.html

 

 

     What do we do if we do not have an Employer Identification Number (EIN)?  

       To apply for an EIN, you may call the Internal Revenue Service at 1-800-829-4933 or visit them online at the IRS website page:

       http://www.irs.gov/businesses/small/article/0,,id=98350,00.html. For foreign businesses that do not have a Unites States EIN, a signed copy of

       the appropriate W-8 form is required.

 

Your Banking Business Is Personal, Shouldn't Your Bank Be Personal Too?

 

At Farmers National Bank, we offer our business customers a comprehensive set of resources and services to make managing their business easier.  Whether you are self-employed, starting a new business, or want to grow your current business, we are here to help! 

Farmers National Bank