Opening a Business Bank Account in Florida: What Banks Ask For

A Florida business bank account is where your paperwork gets tested. A bank doesn't open an account for a business name you like or a plan you wrote down. It opens one for an entity the state has on record, an EIN the IRS has issued, and owners it can identify. Get those pieces in order first and the visit is usually routine. Show up without them and you'll leave with a list instead of an account.

This guide covers the documents Florida banks typically request, the order to collect them, and how to compare regional banks, national banks, and credit unions. Everything here is informational. It is not legal or tax advice, and each bank sets its own requirements, so confirm the details with the bank before you go.

What to Gather Before You Contact a Bank

Pull these items together before you call or apply online. Most banks will ask for originals or clear copies, and every owner and signer must be present or identified.

• Your Sunbiz filing acknowledgment for the LLC (Articles of Organization), or the Articles of Incorporation for a profit corporation
• Your EIN confirmation letter from the IRS
• A signed operating agreement for an LLC, or bylaws and a board resolution for a corporation
• A fictitious name registration acknowledgment, if you will operate under a name other than your legal name
• A current Certificate of Status from Sunbiz
• Government-issued photo ID for each owner and signer
• Personal identifying details for each owner, such as a Social Security number or ITIN, date of birth, and home address
• Proof of your business address, such as a lease or a recent utility bill
• A short description of the business, your expected monthly deposits, and your main customers or vendors

Step 1: Form the Entity and Confirm the Name on Sunbiz

Banks start with the state record, so this comes first. The Florida Department of State, Division of Corporations (Sunbiz), files your formation document. An LLC files Articles of Organization for $125 in total, which includes the $25 registered agent designation. A profit corporation files Articles of Incorporation for $70 in total, which includes the $35 registered agent designation.

An LLC name must end in Limited Liability Company, LLC, or L.L.C. Professional LLCs use Chartered, Professional Limited Liability Company, P.L.L.C., or PLLC. Search the name in the Sunbiz name search before you file, because the name must be distinguishable from names already on record. Do not treat a name as approved until you receive a filing acknowledgment.

If you need time to line up the rest of the paperwork, you can reserve a name for 120 days for a $25 fee. A reservation holds the name only. It does not form the company.

Processing time is the step you can't speed up. The state does not publish a guaranteed turnaround. Online filings are processed in the order received, and images of electronically filed documents post within 3 business days of processing. The Division of Corporations offers no expedited filing service. If you need the document faster, walk-in service is available at 2415 N. Monroe Street, Suite 810, Tallahassee, Monday to Friday, 8am to 5pm, where most requests are completed while you wait. You can also file online through Sunbiz eFile.

Step 2: Get Your EIN From the IRS

An Employer Identification Number is your business's federal tax ID. Banks use it to open the account and to report on it. Apply directly through the IRS at IRS.gov, and keep the confirmation letter the IRS issues. Store the original with your company records and bring a copy to the bank.

Use the exact legal name from your Sunbiz acknowledgment when you apply, so the EIN letter and the state record match. A mismatch between the two documents is the kind of discrepancy that sends a bank back to you for corrected paperwork. If you have a CPA, ask them to confirm how the entity should be classified for federal tax purposes. The classification affects how the business files taxes, and the bank does not choose it for you.

Step 3: Register a Fictitious Name if You Use a DBA

If the public will know your business by a name other than your LLC name, you need a fictitious name registration before you open the account under that name. Florida handles this statewide. The Division of Corporations files the registration, not your county.

The registration costs $50 to file and $50 to renew. It is valid for 5 years and expires on December 31 of the fifth year. Renewal is filed between July 1 and December 31 of the expiration year. Florida also requires the name to be advertised at least once in a newspaper in the county where your principal place of business is located, but no proof of advertisement is filed with the state.

File on Sunbiz and bring the acknowledgment to the bank. A DBA without a registration gives the bank no record to check, so expect the request to be put on hold until you have one.

Step 4: Name a Registered Agent and Order a Certificate of Status

Every Florida LLC and corporation must designate a registered agent with a physical street address in Florida. A P.O. Box will not work. The agent must sign to accept the appointment. An entity cannot serve as its own registered agent, but an individual owner or officer can. Designating the agent carries a required fee of $25 for an LLC and $35 for a corporation, and changing the agent later costs the same amount.

A Certificate of Status shows that your business is active on the state record as of the day you order it. Banks ask for one because it is a current check, not a filing from months ago. Order it from Sunbiz. For an LLC the certificate of status costs $5; confirm the current fee for other entity types on the Sunbiz fee page.

Step 5: Write the Operating Agreement

The operating agreement is the internal rulebook for your LLC. It covers ownership percentages, management structure, who can sign, how profits are split, and what happens when a member leaves. Florida does not require you to file the operating agreement with Sunbiz, and it is normally kept with your company records. The bank will still read it closely.

Banks use the operating agreement to confirm who has authority to open accounts, sign checks, and borrow. If your agreement says two of three managers must approve large transactions, the bank will expect the signature card to reflect that rule. Write the agreement before your visit, have every member sign it, and give each member a copy. An unsigned draft will slow the appointment down.

Step 6: Check State, Local, and Tax Registrations

Florida does not issue a general statewide business license. Some occupations do need a license from the Department of Business and Professional Regulation (DBPR), which licenses trades and professions such as contractors, cosmetology, real estate, restaurants, CPAs, and engineers. If your business needs one, have the license number ready and confirm that it is held by the entity or by the person who will run the business.

Many Florida cities and counties levy a local business tax, collected as a Business Tax Receipt, for the address where you operate. The receipt is issued under Chapter 205 of the Florida Statutes. It is a local tax, not a competency license, and not every county or city levies one. Confirm with your city or county tax collector whether your address requires a receipt and what it costs. Do not assume a neighboring jurisdiction's rules apply to you.

If you sell taxable goods or services, register as a sales and use tax dealer with the Florida Department of Revenue before you begin business. The state sales tax rate is 6%, and rates can vary by county, so confirm the rate for your location. Register through the Department of Revenue registration page. Florida has no personal income tax, but a corporation pays the 5.5% corporate income tax on Florida net income. Ask the bank whether it needs to see your sales tax registration, especially if you plan to accept card payments.

Best Bank for Small Business Florida: Regional, National, or Credit Union

Searches for the best bank for small business in Florida usually return a ranking, but no single bank fits every business. A bank that suits a Tampa contractor who makes cash deposits may be wrong for an online seller shipping nationwide. Choose the bank type first, then compare the specific terms.

• Regional banks operate across a defined part of Florida or the Southeast. They often have local branches, local lending officers, and decisions made closer to home. Confirm that the branch you plan to use handles business accounts.
• National banks have wide branch networks, strong online and mobile tools, and support across multiple states. They may suit a business with customers or payment processing outside Florida. Their standard small business accounts may offer less flexibility for small balances.
• Credit unions require membership, and each one has a field of membership that defines who can join. Many serve Florida communities, but eligibility differs, so confirm that you or your business qualifies before you apply. Business account offerings and lending limits vary by credit union.

Whichever type you choose, compare the same terms on each bank's written fee schedule:

• Monthly maintenance fee and the requirements for waiving it
• Minimum opening deposit and minimum balance
• Cash deposit limits and fees for cash deposits
• Wire, ACH, and check fees
• Online bill pay, mobile deposit, and user permissions for multiple signers
• Merchant processing, if you accept cards
• Whether the bank serves your industry, since some banks restrict certain business types

Ask for the fee schedule in writing, and treat the figures as current only on the date you receive them. Banks change their pricing.

Step 7: Attend the Appointment and Complete the Application

Bring every owner and signer, or confirm in advance whether the bank accepts remote identity verification for anyone who cannot attend. The bank will verify the entity against the Sunbiz record, match the EIN letter to the legal name, and review the operating agreement.

Federal rules require banks to identify the people who own or control a business, so expect questions about ownership percentages and management authority. Answer them directly, using the same numbers that appear in your operating agreement. Mismatched percentages are one of the fastest ways to stall an application.

You will also describe the business: what you sell, who pays you, where the money comes from, and how much you expect to deposit and withdraw each month. Be specific. A plain, accurate description is easier to approve than a vague one that gets flagged for follow-up.

Expect to sign account opening documents and, often, a resolution or certificate of authority that names who may sign for the business. Use the bank's form if it provides one, and keep a copy of everything you sign.

Step 8: Fund the Account and Set Up Controls

Once the account is open, deposit your startup capital from a documented source, such as a transfer from the owner's personal account recorded as an owner contribution. Set up online banking with a separate login for each authorized person, and turn on any dual approval the bank offers for large transfers. Order checks only after the account name and number are final.

Keep the business account for business transactions only. Mixing personal and business spending makes bookkeeping and tax filing harder, and it can blur the line between your personal finances and the entity's.

Common Mistakes to Avoid

• Using a name that does not match Sunbiz exactly, including punctuation and the required LLC ending
• Treating a name reservation as a formed company
• Opening under a DBA before the fictitious name registration exists, or filing that registration with a county instead of the state
• Missing the annual report. An LLC files it each year between January 1 and May 1 for $138.75. A profit corporation files a $150 Profit Annual Report in the same window. Late filings after May 1 carry a $400 late fee, bringing the LLC total to $538.75 and the corporation total to $550. Failure to file an LLC annual report by the third Friday in September leads to administrative dissolution, and a dissolved entity will not produce a current Certificate of Status.
• Assuming no local or professional license is needed because Florida has no general business license
• Starting sales before your sales tax registration is in place, if you sell taxable goods or services
• Bringing an unsigned draft of the operating agreement
• Choosing a bank because of a ranking without checking its fee schedule against your expected transaction volume

What to Expect After You Apply

Results vary, but a well-prepared application often moves through in a single visit. If every document matches the Sunbiz record and the EIN letter, you may reasonably expect to:

• Open the account in one appointment
• Receive account documents and online access within the bank's standard timeline, which you should confirm with the branch
• Face a follow-up request if the bank finds a name mismatch, a missing DBA registration, or an ownership question it needs to clarify

The state filing is the step most likely to take longer than you expect, because no turnaround time is guaranteed. Build that time into your launch date before you sign a lease or a vendor contract.

Official Florida Resources

• Florida Department of State, Division of Corporations (Sunbiz)
• Sunbiz eFile for Florida LLCs
• Florida Department of Revenue
• SBA South Florida district office
• Florida SBDC Network, which connects owners with business advisors

This article is informational only and is not legal or tax advice. Florida requirements, bank policies, and fees change. Confirm current figures with the named agency or bank. For an LLC with multiple owners, foreign owners, a professional entity, or any federal tax election question, consult a qualified Florida attorney or CPA before you file or open the account.