Twin Cedars Bank

Business Deposit Account - New Customer Information Profile

Deposit Account New Customer Information Profile

Our Iowa bank offers a vast array of deposit services which include consumer savings accounts, Certificate of Deposits accounts (CDs), money market accounts, IRA’s and more. With those deposit services we also offer wires, international wires, mobile banking, mobile deposit, ACH Payroll, and other cash management services to fit your needs. Fill out the form below to get started.

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. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

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Overview
Type of Individual
Type of Financial Services

What you'll need to open a business deposit account

When opening a business checking or savings account, we are required by law to verify your business as well as the individuals associated with your business. If your business has more than one owner or key executive with authority and control, it is preferred that they are all present when opening a new account.  If this is not possible, then you may be provided with the required forms that must be completed and notarized by each individual not present.  Your account cannot be opened until all notarized forms have been returned by the owner or key executive, who is opening the account at the branch.

You will be asked to complete and sign documentation that includes:

  • Information about your business.
  • Information about the owners of your business.
  • If applicable, entities with ownership of your business.
  • An individual with significant management responsibility of your business.
  • Your authorization for us to check your credit (no impact to credit score).

You will be asked to provide the following documentation:

A document to verify your business is registered with a government agency, such as Secretary of State or other state/county agency. When applying online, we may ask you to upload this document.

If your business is not registered with a government agency, the list below will help you determine which document is needed based on your legal business structure.

If the document you provide to verify your business does not accurately reflect the physical address of your business, you will need to provide additional documentation for address verification.

Sole Proprietor

If the business name does not include the legal last name of the owner, you will need one of the following original or certified business documents:

  • Fictitious Name Certificate/Statement
  • Certificate of Assumed Name
  • Business License
  • Registration of Trade Name

For example: If the owner’s legal name is Janet Johnson, and the business name is Janet Jewelry, you will need the additional documentation. However, if the business name is Johnson Jewelry, you will not.

Partnerships

General Partnership

You will need one of the following original or certified business documents:

  • Partnership Agreement
  • Fictitious Name Certificate/Statement
  • Certificate of Assumed Name
  • Business License
  • Business Registration
  • Statement of Partnership

If you do not have one of the documents noted above and you have not filed the appropriate documents with a government agency, bring a written statement signed by all owners indicating no written Partnership Agreement exists.

Limited Partnership

You will need one of the following original or certified business documents:

  • Certificate of Limited Partnership
  • Limited Partnership document
  • Form of Limited Partnership Agreement
  • Partnership Fictitious Name Certificate
  • Subsequent Appointment of Statutory Agent
  • Limited Partnership Registration
  • Statement of Qualification
  • Certificate of Formation

Limited Liability Partnership

You will need one of the following original or certified business documents:

  • Statement of Qualification
  • Limited Liability Partnership Election
  • Limited Liability Partnership Registration
  • Statement of Registration as a limited liability partnership
  • Certificate of Limited Liability Partnership
  • Articles of Registration
  • Certificate of Registration

Limited Liability Company

You will need one of the following original or certified business documents:

  • Articles of Organization
  • Certificate of Organization
  • Certificate of Formation

Corporation

You will need one of the following original or certified business documents:

  • Articles of Incorporation
  • Certificate of Good Standing
  • Certificate of Formation
  • Articles of Organization
  • Certificate of Incorporation

Social/Recreational Clubs, Unincorporated Associations and Civic Groups

You will need one of the following original or certified business documents:

  • Business License
  • Fictitious Name Certificate
  • Fictitious Name Statement
  • Certificate of Assumed Name
  • Organization/Association Articles or Bylaws
  • Certificate of Formation
  • Certificate of Organization
  • Statement of Organization
  • Certificate of Good Standing
  • Certificate of Registration

If you do not have one of the above or comparable documentation issued by a government agency, please provide governing documentation for your entity, such as meeting minutes documented on business letterhead. This document must contain the following:

  • Meeting date
  • Name of the business
  • Address of the business
  • Date the entity was originally established
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