What kind of business do you operate?

Sole Proprietorship

Using the business owner’s Social Security Number for tax reporting
- Certificate of Assumed Name^*

Using an Employer Identification Number (EIN)
- SS4 Form issuing the EIN from the IRS
- Certificate of Assumed Name^*

^*Certificate of Assumed Name is required when the business owner’s full legal name is NOT part of the business nameNote: In Tennessee, the state and county business licenses will be required in lieu of a certificate of assumed name

Partnership

General Partnership

SS4 Form issuing the Employer Identification Number (EIN) from the IRS
Certificate of Assumed Name may be required. See specific requirements below:
- Indiana & Illinois – If the business name does not contain all partner’s full legal surnames, a Certificate of Assumed Name form must be filed at the county clerk’s office in the county where conducting business prior to account opening. The form must list all General Partners
- Kentucky – IF using an assumed name (any name that does not contain the full legal surname of all General Partners) the business must file with the Kentucky Secretary of State
  - Please visit the Kentucky Secretary of State website for details and filing requirements at https://onestop.ky.gov/start/Pages/structure.aspx.
- Tennessee – must file the business with the Tennessee Secretary of State
  - Please visit the Tennessee Secretary of State website for details and filing requirements at https://tnbear.tn.gov/ecommerce/default.aspx
- For any state not listed above, please contact a representative at Liberty FCU for more details or visit your local Secretary of State website

Limited Partnership

SS4 Form issuing the Employer Identification Number (EIN) from the IRS
Certificate of Limited Partnership filed with the Secretary of State (depending on specific state requirements, if this does not list all general partners, a Partnership Agreement may also be requested)
Certified copy of the Business Entity Report or Annual/Biennial filing that shows proof the Entity is “Active” and in good standing with the Secretary of State
Any Assumed Name other than the legal business name must be registered under the business listing on the Secretary of State

Limited Liability Partnership

SS4 Form issuing the Employer Identification Number (EIN) from the IRS
Registration of Limited Liability Partnership
Partnership Agreement identifying all partners
Certified copy of the Business Entity Report or Annual/Biennial filing that shows proof the Entity is “Active” and in good standing with the Secretary of State
Any Assumed Name other than the legal business name must be registered under the business listing on the Secretary of State

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Limited Liability Company

Sole Member LLC

SS4 Form issuing the Employer Identification Number (EIN) from the IRS. (unless using the Sole Member’s SSN for Tax Reporting)
Articles of Organization filed with the Secretary of State
Certified copy of the Business Entity Report or Annual/Biennial filing that shows proof the Entity is “Active” and in good standing with the Secretary of State
Any Assumed Name other than the legal business name must be registered under the business listing on the Secretary of State

LLC with multiple members

SS4 Form issuing the Employer Identification Number (EIN) from the IRS
Operating Agreement – provided to Liberty FCU by the member and should contain provisions of the management of the company, the elections of its managers and the allocation of profits and losses among its members of the LLC
Articles of Organization filed with the Secretary of State
Certified copy of the Business Entity Report or Annual/Biennial filing that shows proof the Entity is “Active” and in good standing with the Secretary of State
Any Assumed Name other than the legal business name must be registered under the business listing on the Secretary of State

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Corporation

SS4 Form issuing the Employer Identification Number (EIN) from the IRS.
Articles of Incorporation filed with the Secretary of State
Certified copy of the Business Entity Report or Annual/Biennial filing that shows proof the Entity is “Active” and in good standing with the Secretary of State
Any Assumed Name other than the legal business name must be registered under the business listing on the Secretary of State

Non-Profit Organization or Unincorporated Association

SS4 Form issuing the Employer Identification Number (EIN) from the IRS
By-Laws, Charter, Constitution, etc
Organizational Chart OR Meeting Minutes showing governing members and the authorized persons on the account (provided by the Member)

Recreation or Club

SS4 Form issuing the Employer Identification Number (EIN) from the IRS
SEG Letter; School Related such as Alumni/Class of XX’, PTA or Extra Curricular Booster Club. If not eligible in their own right – need MDFAA Welcome Letter & MDFAA Enrollment Letter
Meeting Minutes showing governing members & the authorized persons on the account (provided by the Member)

Political Campaigns

Committee to elect (group supporting a candidate) or Candidacy for Non-Local positions

SS4 Form issuing the Employer Identification Number (EIN) from the IRS.
Proof of Filing for Candidacy

City, County or Local Candidate opening for themselves do not need any additional documentation.

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Important Information About Opening a New Business Account

When you open a new account or apply for a new loan, you will be required to provide information about your beneficial owners. Businesses required to complete this form include a Corporation, LLC, General Partnership, or other entity that is created by the filing of a public document with a Secretary of State or similar office. Sole Proprietorships and Unincorporated Associations are excluded.

What is a beneficial owner?

Each individual who owns 25% or more of the business.
One individual who has significant managerial responsibility for the business.

Why do we need this information?

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.

Section 326 of the USA PATRIOT Act requires that financial institutions identify and verify the identity of the beneficial owners of all legal entity customers at the time a new account is opened. The identification and verification procedures for beneficial owners are very similar to those required of each member.

When you open an account, we will ask you to identify the beneficial owners of your business and the required information listed below for each beneficial owner. We may also ask for a driver’s license or other identifying documents for each beneficial owner.

Information You'll Need to Provide

Your name

Personal physical address (cannot be a PO box)

Date of birth

Social Security Number or Tax ID Number

Acceptable Forms of Identification

Driver's license

State-issued ID card

US passport

Permanent resident card

What kind of business do you operate?

Important Information About Opening a New Business Account

Information You'll Need to Provide

Acceptable Forms of Identification

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