Signatories live in different  states. ?

Does a small US bank account (less than $400.00)  for an international non-profit organization need a TIN to have additional signatories on that account?

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  • 1 month ago
    Favorite Answer

    An international non-profit needs to set up a 501(c)(3) US incorporation with a US person (US citizen or greencard holder) as its CEO.  All corporations need a TIN. 

    Then it needs to be approved in at least one state and receive a determination letter before being able to solicit tax exempt contributions.  It can only solicit in states where it has been approved.  'Donate now' buttons on a website require approval in every state.

    To open a bank account this entity will need to show its bylaws so that the bank can see the individuals opening the account are authorised to do so.  It is normal practice to have two authorised signatories on the account.   The state of residence does not matter.  The organisation can be incorporated in Delaware and the officers based in Texas and New York.  But bank will need both signatories to be physically verified so that may be your problem if this is a bank without branches in other states.  The other party may have to get on a plane or train.

    The size of the account is not material but the cost of your annual return will be lower if the organisation has less than $100,000

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  • NA
    Lv 7
    1 month ago

    The Patriot Act will require the bank account have a TIN associated with it.

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  • 1 month ago

    Why do you ask??  

    1.  does your bank say so??  

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  • Anonymous
    1 month ago

    NO IDEA what you are babbling about.

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