LLC Bank Accounts

[Noemi Venegas]

Hi all,

I just opened up an LLC with series for each of my properties. I know that my next step is to open up separate bank accounts for each property and for the holding company as well. From your experience is there any specific questions I should be asking of the bank I go with? Is there a bank that you would recommend? Or is there anything I should look out for now or the future?

Thanks in advance!

[Philip Barr]

A helpful tip is to talk with a business banker when you get to the branch. A lot of the time, the typical tellers/bankers there lack familiarity with business entities in general, much less something a bit more complicated like a Series LLC. Providing your documentation also helps with the ease of setting up bank accounts, so it is typically best to take as much documentation on each cell and the parent of the Series LLC as possible.



This post is not intended to replace legal representation or provide legal opinion, give custom drafting services, review enforceability in a particular jurisdiction, or provide financial/tax advice. Please seek a local professional to help you.