Banking Compliance & KYC Requirements
Easybrise Team
Compliance Specialist
US financial institutions are required to verify business legitimacy, ownership structure, and operational intent before opening accounts. This guide outlines the standard Know Your Customer (KYC) and Know Your Business (KYB) checks that banks and payment processors perform when reviewing US LLCs owned by international founders.
Standard US Banking Verification (KYC/KYB)
KYC (Know Your Customer) and KYB (Know Your Business) are regulatory requirements that financial institutions must follow to verify customer identity, assess risk, and ensure compliance with anti-money laundering laws.
- Certificate of Formation (state-stamped)
- EIN Confirmation Letter (IRS CP-575 or 147C)
- Operating Agreement showing ownership structure
- Valid passport of all beneficial owners (25%+ ownership)
- Proof of non-US residential address (recent utility/bank statement)
- US business address (registered agent or commercial address)
- Description of business activity and services provided
Banks must understand: who owns the company, what the business actually does, where customers are located, how payments will flow, and that the company is not a shell or pass-through entity. Clear, consistent documentation significantly reduces onboarding delays.
Avoid vague business descriptions such as "consulting" or "services". Financial institutions require a clear explanation of what you sell, who you sell to, and how revenue is generated.
Common Mistakes to Avoid
- Submitting inconsistent business information across documents
- Listing activities that do not match your website or application
- Providing unclear or generic business models
- Uploading low-quality or cropped identity documents
- Applying before EIN confirmation is issued
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