What formation documents do banks require?
U.S. banks and payment processors typically ask for a bundle of formation documents before opening a business account. Here is what OtoCo provides and where to find each item.
Documents banks commonly request
| Document | What it proves | Where to get it on OtoCo |
|---|---|---|
| Certificate of Formation | Entity exists and is registered with the state | Files & Templates tab, or compliance.otoco.io for Series LLCs |
| Operating Agreement | Governance, ownership, and management rules | Files & Templates tab |
| EIN letter (CP 575) | IRS Tax ID assignment | Overview tab and Files & Templates (after EIN is issued) |
| Articles of organization | Same as Certificate of Formation for LLCs | See below |
For Series LLCs
OtoCo auto-generates from your formation details:
- Certificate of Formation (Series-specific)
- Operating Agreement
- EIN letter (when the $189 EIN add-on is complete)
For Standalone LLCs and BYOE
OtoCo attaches documents already on file — your uploaded Certificate of Formation, Operating Agreement, and EIN letter. Upload missing docs to your entity bucket before applying to Mercury.
Helpful extras
- Certificate of Incumbency — template in Files & Templates for KYB
- Virtual Mailing Address — gives you a U.S. business address for the application ($249/yr)
Mercury via OtoCo
When you order the $299 Mercury application service, OtoCo pre-fills and attaches these documents automatically. See Mercury bank application.
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