By Jim Deloisio, Director of Legal Services for Torchlight Tax.
Thinking of setting up an anonymous LLC and wondering how to open a bank account when your name isn’t publicly listed?
Some people worry that if their name doesn’t appear on the Secretary of State’s website, banks won’t open an account. This is a valid concern, but there’s a simple solution.
When we get an EIN (Employer Identification Number) from the IRS, your name will be on the IRS letter as the responsible party or sole member. Take this letter to the bank, and the bank will cheerfully set up your bank account.
For example, if your LLC is formed in Wyoming, a state known for anonymity, the public record will only show:
- The business name,
- The registered agent, and
- The business address.
When we set up the LLC, the Wyoming Secretary of State does not even know who the owner is or who the members are. The IRS EIN letter is not part of the public record.
To open a bank account, you’ll also need:
- An Operating Agreement listing you as the responsible party or member/manager, and
- A Banking Resolution authorizing you to open the account.
We also recommend using a local address when opening your bank account. This helps prevent delays or confusion at the bank.
If you would like the asset protection that an anonymous LLC provides, or need help navigating the setup process, contact Torchlight Tax at 877-758-7797 or email info@torchlighttax.com for a free consultation.
If you have any questions about tax saving or asset protection strategies, read or watch the hundreds of blog articles and videos available at https://www.torchlighttax.com.and our YouTube channel.
Disclaimer: This content is intended solely for general informational purposes and does not constitute professional advice in areas such as accounting, tax, finance, investment, or law. Neither the author nor the distributor accepts any responsibility for actions taken based on this information. The content does not provide a comprehensive overview of any subject. Always consult a qualified professional before making decisions related to your business, finances, or legal matters.
