All Forum Posts by: David Ainger
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Post: How to setup Holding and Subsidiary LLC bank accounts
- Coeur d Alene, ID
- Posts 1
- Votes 5
When you opened up the holding company LLC you obtained an EIN for that LLC. When you filed for the operating LLC you should have named the Holding company LLC as the owner of that new LLC. You are then Holding Co LLC dba as Operating LLC you will get two different Secretary of State filing numbers.
You would go to your bank and open up a second account under Holding Co LLC dba as Operating LLC. You would want to check with your CPA/accountant to see how he would like you to set up the second LLC. You can use 1 EIN for both since you are DBA under holding co LLC or if he believe you should get a second LLC EIN number for tax purpose.
The bank will need to add you as a signer just like they did for the original holding co LLC and used your companies EIN number not your SS #. All LLC companies should have an EIN number (not required but suggested) not your SS # and if a bank wants to use your SS # find a new bank.