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Business Banking

At Farmers National Bank of Lebanon, we offer our business customers a comprehensive set of resources and services to make managing their business easier.

Business and Other Information:

 

Account Documentation Requirements

All customers who wish to open a business account of any kind will need to provide the following information, along with the documentation listed under the business type.

Employer Identification Number (EIN) or Business Tax ID Number that is registered to the applicable business.
A valid U.S. government issued photo identification and Social Security Numbers for all individuals that will be authorized to transact business on behalf of the company and/or authorized signers on the account.
The legal recognized document demonstrating when the business/organization was formed. (Not required for Sole Proprietorships)
Documentation Requirements for each Business Type:
Incorporated or Unincorporated Association / Organization or Non-Profit Organization
  • Employer Identification Number (EIN) or Business Tax ID Number
  • Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade/Assumed Name
  • Organizing document, such as Articles of Association (if available) or bylaws
  • Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Association or bylaws

When the account is opened in the name of the organization, all of the qualification criteria of the entity type, such as corporation, of the organization must be met.

The account can earn interest if the business qualifies as a non-profit organization. A letter of determination from the IRS or other documentation evidencing tax status is required.

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Sole Proprietorship
  • An unincorporated business owned by an individual
  • Owner's Social Security Number or Business Tax ID Number
  • Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade/Assumed Name, showing both business and owner's name, or Business License showing both business and owner's name

Click here to download Sole Proprietorship Resolution of Authority

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Corporation
  • Business name contains "company", "corporation", "incorporated", or an abbreviation
  • Employer Identification Number (EIN) or Business Tax ID Number
  • Articles of Incorporation or Certificate of Incorporation
  • Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation

If you're a nonprofit corporation, you need an IRS ruling letter of tax exemption under the IRC 501C. If you're unable to provide the IRS ruling letter, you must obtain a notarized statement on organization letterhead from the officers or directors, stating that the organization is exempt from tax reporting under IRC 501C.

Click here to download Corporate Authorization Resolution

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Limited Liability Company
  • Business name contains "LLC"
  • Employer Identification Number (EIN) or Business Tax ID Number
  • Articles of Organization
  • Operating Agreement
  • Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Organization or Certificate of Formation

If applicable, the Fictitious Name Certificate or Certificate of Assumed Name or the Business License.

Click here to download Limited Liability Company Authorization Resolution

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Partnerships

Partnership Agreement (if there is no agreement, obtain a statement stating so with all partners' signatures) or filed Limited Partnership Agreement.

     General Partnership:
  • An unincorporated business owned by 2 or more people
  • Employer Identification Number (EIN) or Business Tax ID Number
  • Partnership Agreement showing business name and name of partners, or
  • Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade/Assumed Name, showing business name and name of partners
     Limited Partnership:
  • A partnership with general and limited partners
  • Employer Identification Number (EIN) or Business Tax ID Number
  • Limited Partnership Agreement showing business name and name of partners, or
  • Business organizing document filed with and certified by state official, such as Certificate of Limited Partnership, showing business name and name of partners
  • File a certification of the partnership information with the state in which the business has its principle location
  • Include the term limited partnership or LP in their legal name.
  • A copy of the Limited Partnership Agreement that is not filed may be accepted until the state filing is complete
     Limited Liability Partnership or Professional Limited Liability Partnership:
  • Business name contains "LLP" or “PLLP”
  • Employer Identification Number (EIN) or Business Tax ID Number
  • Limited Liability Partnership Agreement showing business name and name of partners, or Business organizing document filed with and certified by state official, such as Certificate of Limited Liability Partnership, showing business name and name of partners

Click here to download Partnership Resolution of Authority

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FAQ's

  • What documentation do we need to open an account?
    The documentation you need depends on the type of business you are operating. To find the documentation list for your particular business type, see the Account Documentation Requirements section.
     
  • We are unsure of our business entity type. How do we find out?
    Find more information at the IRS Business Structure website page: http://www.irs.gov/businesses/small/article/0,,id=98359,00.html
     
  • What do we do if we do not have a business license?
    There are many types of licenses. You need one to operate legally almost everywhere. If the business is located within an incorporated city limits, a license must be obtained from the city; if outside the city limits, then from the county. For more information contact the county or city office in your area.
     
  • What do we do if we do not have an Employer Identification Number (EIN)?
    To apply for an EIN, you may call the Internal Revenue Service at 1-800-829-4933 or visit them online at the IRS website page: http://www.irs.gov/businesses/small/article/0,,id=98350,00.html. For foreign businesses that do not have a Unites States EIN, a signed copy of the appropriate W-8 form is required.

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