AmericasUnited StatesLicensed-entity research

Bank of America, National Association

Bank of America, National Association (a U.S. national bank entity; not the same as its holding company, Bank of America Corporation)

Bank of America, National Association is a U.S. national bank entity verified against current FDIC institution records and the OCC’s current national bank directory, distinct from the holding company Bank of America Corporation. The bank’s website publishes a personal account-opening route for some non-U.S. citizens and online LLC application requirements limited to U.S. formation, business, and application conditions. Public information does not constitute approval of an individual application or a commitment to accept all overseas residents.

Regulator: Office of the Comptroller of the Currency (OCC; regulator of national bank charters); the FDIC provides deposit insurance
Check date: 2026-10-26
Verify status: Some information remains to be confirmed: Bank of America, National Association's current bank entity record, charter 13044, FDIC certificate 3510 and insured deposit status have been checked against the official FDIC API and the OCC national bank list dated 2026-09-30; the bank's personal non-citizen pathway and LLC online application page have been reviewed. The actual application channels for individuals/companies involving particular statuses, foreign shareholders or overseas entities, the deposit account tax self-certification format, detailed acceptable proof of address, complete documentation for all entities, fees and processing times have not been confirmed by public information and should be verified with the bank in writing.

Research scope and official resources

Topic number:americas-bank-of-america-na

Based on public selection references for large banking institutions in 2025/2026, the group-level information for Bank of America Corporation is mapped to the specific bank entity Bank of America, National Association. No individual ranking is claimed for this entity, and this is not a current top 100 ranking or a conclusion on licensing or acceptance.

Bank’s official website

Personal Eligibility and Documents

The bank’s official page for professionals in the United States explicitly says that non-U.S. citizens may apply and sets out separate requirements for Non-Resident Aliens (NRA) and Resident Aliens (RA): NRAs must provide a foreign street address where they actually reside and a U.S. mailing address; RAs must provide an actual U.S. address. Both must have two unexpired identity documents ready and provide a tax identification number when applicable. The page requires an appointment at a Bank of America financial center. It says that a bank account can be opened without an SSN, but still requires two forms of identification and does not promise that residents of any country can open an account remotely from abroad. Whether a non-U.S. citizen who does not live in the United States can open an account in a particular case, whether other visa/residency or business-relationship documents are required, and whether the selected product is available must all be confirmed in writing with the bank; the bank makes the final assessment.

Personal information publicly disclosed or identified

For this personal banking route, the bank requires two unexpired identity documents: one primary and one secondary. Examples of primary documents listed on its official website include a foreign passport (with or without a U.S. visa), a U.S. Permanent Resident Card (with photo), or an Employment Authorization Card (with photo).
Examples of supplementary identification listed on the official website include a foreign or U.S. driver’s license (with photo), a Visa/Mastercard debit card or major credit card, a credit card from a national retailer, a U.S. Department of State diplomatic ID, or a Mexican voter registration card (with photo). The page says the examples are not exhaustive; the bank determines what is accepted.
Under the page's requirements, non-resident foreign individuals must provide their actual foreign residential address and a US mailing address; resident foreign individuals must provide an actual US address. The website does not specify the acceptable format for proof of address in the pages reviewed. General advice on proof of address must not be presented as bank policy.
Provide a tax identification number where applicable. The bank’s page lists a foreign tax identification number (FTIN), U.S. Social Security number (SSN), and individual taxpayer identification number (ITIN), and states that an SSN is not universally required to open an account. The public page does not confirm whether a specific applicant must submit tax forms.
The bank says an appointment must be made at a financial center, and applicants must bring the identity documents and other documents required above. For citizens of countries subject to U.S. economic or financial sanctions, the page also requires documents proving lawful residence in the United States. The bank must verify whether this applies in a particular case.

Company eligibility and documents

Company applications must be assessed according to business type. The bank's published eligibility criteria for LLC online applications require the business to be formed in the United States, have its principal place of business in the United States, and be a U.S. domestic business. This page also states that the applicant must be a U.S. resident, the primary applicant and any additional applicants must each hold at least 25% of the business, and foreign business customers currently cannot apply through this channel. These are specific restrictions for this LLC online channel and must not be generalized into a blanket rejection policy for all branch or commercial banking products. The official website does not confirm whether non-U.S.-registered businesses, businesses operating abroad, or non-resident shareholders or controllers can apply through other routes. Confirm the applicable legal entity type, applicant status, beneficial ownership levels, and local channel with the bank before preparing an application.

Company information publicly disclosed or identified

Information listed on the bank’s LLC online application page: business name and address; country and state of legal formation (must be formed in the United States); business tax ID (EIN or SSN); country and state where the business primarily operates (must be in the United States); date of formation.
This LLC online application page requires personal details, including date of birth and SSN, for people involved in the application. This covers people listed on the application, those holding at least 25% ownership, and the managing controller. The primary applicant and any additional applicants must each hold at least 25% of the company, and applicants must be U.S. residents. The page also requires applicants to authorise the bank to check their credit, other financial, or account information.
If the bank cannot verify the LLC, the page says it may require state-filed formation documents to prove the LLC’s legal existence. Examples listed are Articles of Organization, Certificate of Organization or Certificate of Formation. If the company operates under a name different from its legal name, the bank may require the relevant DBA/trade name registration or business licence documents. Examples listed include Business License, Trade Name Certificate, Fictitious Name Certificate, Certificate of Trade Name and Certificate of Assumed Business Name; the page notes specific exemptions for KS, NM and SC.
The bank’s general business account guide also lists items that may be required depending on the business structure: business address and phone number, account holder’s name, personal identification, EIN (or SSN for a sole proprietor), and state or local documents proving the business exists. Examples include Articles of Incorporation for a corporation; Articles of Organization for an LLC; a Certificate of Formation/Certificate of Incorporation; a limited partnership certificate; authority to register or operate outside the state of formation; and DBA registration. The guide expressly states that requirements vary by structure and only some documents may be needed; this is not a uniform, complete list for every type of entity.
General compliance preparation suggestion (not a general mandatory policy published by the bank): Ask the bank whether it requires organizational documents/operating agreement, board or authorized-signatory resolutions, a complete ownership and control chart, identification for all beneficial owners, and supporting evidence consistent with the company’s business and source of funds. Apart from information expressly listed on the LLC page or additional-document requests actually issued by the bank, the above suggestions should not be represented as documents the bank requires in all cases.

Address, tax, and remote / witnessed procedures

Address and tax

Individual account opening: the website's address requirements for non-resident foreigners are an actual residential address abroad plus a U.S. mailing address; resident foreigners must have a U.S. physical address. The website does not provide an exhaustive list of proof-of-address formats on the pages reviewed. The tax numbers listed by the bank are FTIN, SSN, or ITIN, where applicable. The IRS states that Form W-9 is used to request a TIN from a U.S. person (including a foreign person who is a U.S. tax resident), while Form W-8BEN is provided by a foreign person to the withholding agent/payer when they are the beneficial owner of the relevant payments; this does not support an inference that every deposit-account application must submit it. The U.S. uses the FATCA regime and has not joined OECD CRS; U.S. account reporting and tax self-certification for account opening should not be described as U.S. CRS reporting. The bank's website reviewed does not confirm which tax self-certification, if any, Bank of America requires for this deposit account, or whether it requires documentation of foreign tax-residency status. The online LLC channel requires U.S. formation, a U.S. business address/place of operation, and EIN or SSN; address rules for other entities and cross-border applications have not been publicly confirmed.

Remote / witnessing

The personal-account route for non-U.S. citizens requires an appointment and an in-person visit to a Bank of America financial center. No public commitment was found that this route supports global video account opening, remote witnessing abroad, or third-party witnesses. The bank’s general business guide states that business accounts can be applied for digitally, handled at a branch, or initiated by phone; however, this does not expand the U.S.-formation, operating, and applicant-identity restrictions on the LLC online page, nor does it establish that non-residents can open accounts remotely. Whether applicants abroad may sign online and whether a notary or third-party witness is accepted must be confirmed in writing by the bank for the specific account.

Public process reference

Personal: First confirm with the bank whether your residence status, product, address, tax number, and two identity documents meet its requirements. The bank’s public guidance requires an appointment for an interview at a financial center and asks applicants to bring the required documents.
Individuals: The bank will confirm identity, address and product eligibility during the meeting and subsequent review. The public page does not promise same-day account opening, remote opening from abroad or a fixed processing time.
Businesses: Confirm the specific legal form and application channel. The published online LLC channel is available only to applicants meeting its stated conditions for U.S. formation, principal business operations in the U.S., and applicant eligibility. Other businesses may first contact the bank to confirm whether an applicable application route is available.
If you meet the requirements on the LLC online application page, you may apply online and receive an application ID. If the bank requests additional LLC formation/DBA documents, they must be submitted within 11 days after submitting the application, as stated on the page. The page says that if the documents are not received, the application will be refused and a new application will be required. 11 days is the deadline for submitting additional documents, not the account-opening processing time.
All applications are subject to the bank's identity, business, and compliance review; the website does not publicly promise that applications will be approved.

Compliance topics, details, and sources

U.S. Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) and Customer Due Diligence

The U.S. national bank is subject to federal BSA/AML requirements and FinCEN customer due diligence rules. A FinCEN announcement dated 2026-10-13 concerning Bank of America, N.A. states that it acknowledged BSA violations and failures to meet relevant AML program requirements. An OCC announcement on the same date imposed a civil money penalty of 750,000,000 dollars on that entity and stated that its BSA/AML program had persistent deficiencies and remained subject to the 2024 cease-and-desist order. These are regulatory facts as of the date of the search, not a judgment about any applicant’s eligibility or the bank’s future remediation. Application information and funds activity should be truthful and complete; the bank determines specific review requirements.

Source:FinCEN — Customer Due Diligence Rule FAQs ；OCC — OCC Imposes $750 Million Assessment Against Bank of America, N.A. for Deficient BSA/AML Compliance ；FinCEN — In the Matter of Bank of America, N.A.

Due diligence on corporate customers’ beneficial owners, controllers and source of funds

The FinCEN CDD Rule generally requires applicable banks to identify and verify individuals who directly or indirectly hold 25% or more of the ownership interests in a legal entity customer, if any, and at least one individual responsible for controlling, managing, or directing the entity; the bank must obtain names, dates of birth, addresses, and government-issued identification information such as an SSN or, for a foreign person, a passport. The 2026 exception order allows institutions to choose not to repeat verification at every new account opening, but verification is still required at initial account opening, when reliability is in doubt, or as required by risk-based procedures; banks may also use stricter processes. The bank’s LLC page separately states that this online channel requires information about the relevant owners and control managers. FinCEN requires understanding the nature and purpose of the customer relationship and ongoing risk monitoring; the specific source-of-funds documents required by the bank for all deposit accounts are not listed on the pages reviewed.

Source:Bank of America — LLC Application Requirements ；FinCEN — Customer Due Diligence Rule FAQs

Distinguishing U.S. Tax Identification, FATCA, and CRS

The U.S. Congressional Research Service states that the United States has not joined the OECD CRS and that FATCA does not have CRS’s fully reciprocal information-exchange mechanism. The IRS describes FATCA as part of the U.S. cross-border tax framework. The IRS states that Form W-9 is used for U.S. persons (including resident aliens for tax purposes) to provide a TIN and related certifications; foreign persons submit Form W-8BEN to a withholding agent/payer when required in applicable withholding situations. Bank of America’s personal banking page only says to provide an FTIN, SSN, or ITIN where applicable and has not publicly confirmed the specific tax self-certification form for this deposit account. Do not describe the U.S. as a CRS participant, or infer that Forms W-8BEN or W-9 are universally required for account opening.

Source:Bank of America — Banking essentials for professionals in the U.S. ；IRS — About Form W-8 BEN ；IRS — Instructions for the Requester of Form W-9 ；Congressional Research Service — The Foreign Account Tax Compliance Act ；IRS — Foreign Account Tax Compliance Act

OFAC sanctions screening and specific requirements for the bank’s personal channels

The U.S. Treasury Department’s OFAC states that financial institutions must not violate the sanctions laws it enforces, and that sanctions screening and controls should be implemented in accordance with institutional policies and regulatory requirements. Bank of America’s official personal account opening page further states that citizens of countries subject to U.S. economic or financial sanctions must provide documents proving their lawful residence in the United States. This is an account-opening condition noted by the bank for a specific case; the bank determines applicability to particular countries or individuals under the sanctions lists and laws in effect at the time. Applicants should not attempt to evade screening by changing disclosures or by other means.

Source:Bank of America — Banking essentials for professionals in the U.S. ；U.S. Treasury OFAC — Starting an OFAC Compliance Program FAQs

FDIC Deposit Insurance Coverage

The FDIC’s current record lists this bank as an insured depository institution. The FDIC generally states that insured deposits are covered up to 250,000 dollars per depositor, per insured depository bank and per ownership category, subject to account ownership and category. Nondeposit products such as investment securities, mutual funds and annuities are not covered. This standard is not an unconditional guarantee for any balance or all Bank of America products; coverage of specific accounts and aggregation of balances must be verified under FDIC rules.

Source:FDIC BankFind API — Bank of America, National Association, Cert 3510 ；FDIC — Understanding Deposit Insurance

Account Opening Compliance Information

Account Opening Compliance and Document Preparation Guide

This page lists separately the requirements published by the bank, local regulations, and document preparation suggestions. Acceptance and specific requirements are subject to confirmation by the bank.

This guide concerns publicly available information on U.S. deposit accounts from Bank of America, National Association; it does not treat a holding company or securities affiliate as the account provider. The bank’s publicly available online LLC application covers only LLCs formed in the United States and primarily operating there. The page requires the primary applicant and each other applicant to hold at least 25% ownership and indicates that applicants should be U.S. residents. This does not establish that all businesses qualify or that foreign applicants can open accounts through another channel. Applicants seeking accounts for non-LLCs, foreign entities, or individuals should first verify eligibility separately with the bank.

Date information checked:2026-10-26

Document Preparation Checklist

Company legal existence, ownership, and authority to open an account

Who it applies to: Companies, LLCs, partnerships and other non-individual account applicants; not a document list for personal accounts.
Documents to Prepare: Prepare state or local formation/registration documents appropriate to the legal form. The bank’s deposit agreement expressly requires business accounts to provide evidence of the entity’s existence, ownership information, identity information for owners/beneficial owners/control managers, and evidence of authority to act for the entity.
As a preparation suggestion, you may prepare the current shareholder/member register, a layered ownership structure chart, operating agreement or articles of association, board/member authorization resolutions, and signatory authorization documents, so that the registered entity, ultimate natural persons, and account signing authority can be matched. The bank has not published a requirement that every business submit each of these documents.
For an LLC online application, prepare the company name and address, state/country of formation, EIN or SSN, main state/country of operation, formation date, and personal information for the applicant, each owner with at least 25% equity interest, and the control manager, as specified on the page. This online channel may also require state-filed formation documents if verification is unsuccessful.
Description: The bank deposit agreement requires business information to be current and accurate; the LLC page specifies information required for a particular online channel and possible follow-up documents, but is not a universal checklist for all legal-entity types. The public pages reviewed do not set out uniform requirements for document language, certification/notarization, translation, or validity periods; confirm with the bank before submitting.

Source:Bank of America — LLC Application Requirements；Bank of America — How do I open a business bank account?

Business Purpose, Expected Account Use, and Supporting Evidence of Funds

Who it applies to: The operating entity applying for a business account; specific supporting documents are risk-based preparation suggestions, not a publicly available, uniform mandatory checklist.
Documents to Prepare: Prepare a one-page business summary covering products/services, customer and supplier locations, main payment and receipt methods, expected monthly transaction count and amounts, the proportions of cash, cheques, and wire transfers, and main currencies.
Organize recent contracts, invoices, purchase orders, sales records, platform settlement statements, or financing/shareholder contribution documents according to the actual source and intended use of funds, and identify counterparties and the flow of funds. The bank may request additional documents on a case-by-case basis; public guidance does not specify a fixed set of supporting documents for every customer.
Check that the company’s registered address, contact address and telephone number, EIN and account-holder name in the application match. The general business guide states that the relevant information and minimum deposit may vary by business structure/account; confirm any specific threshold with the bank.
Description: FinCEN requires banks to understand the nature and purpose of relationships on a risk basis and conduct ongoing monitoring, but does not require the same set of expected activity information for every customer. The business and source-of-funds evidence mentioned above is a practical preparation suggestion and should not be described as Bank of America’s published list of required documents.

Source:Bank of America — How do I open a business bank account?；FinCEN — Customer Due Diligence Rule FAQs, updated May 6, 2026

Personal identity, tax identification and contact information

Who it applies to: Business applicants, controllers, and related owners; the scope of identity verification depends on the account structure, the bank’s review, and applicable regulations.
Documents to Prepare: Prepare the legal names, dates of birth, addresses and tax/government identification numbers of the business representative and relevant individuals, as required by the bank; FinCEN CDD requires covered legal-entity customers to provide this basic identity information for beneficial owners and control persons.
Where applicable to an LLC’s online application, the page lists the SSN and date of birth of the relevant individuals. The bank should first confirm which documents, alternative tax identification methods, and remote verification methods it accepts for other foreign individuals.
Organize the company's current correspondence address, telephone number, email address, tax status/tax identification number, and backup withholding status. The deposit agreement requires timely updates to changes in name, address, and relevant tax obligations.
Description: The bank deposit agreement states that at least one valid identity document (including a government-issued photo ID) may be required, but the document types and scope must be confirmed for the specific entity; do not apply the two-document conditions listed on the personal account-opening page to legal-entity applications.

Source:Bank of America — LLC Application Requirements；Bank of America — Deposit Agreement and Disclosures, effective May 15, 2026；FinCEN — Customer Due Diligence Rule FAQs, updated May 6, 2026

Due diligence and enhanced verification

Direct/indirect beneficial owners and controllers

Basis for Verification: FinCEN CDD rules generally require identification of each natural person who directly or indirectly owns 25% or more of an applicable legal entity, if any, and one natural person with significant management or control responsibility. Required information includes name, date of birth, address, and government-issued identification information such as an SSN or, for a foreign person, a passport. Banks may adopt stricter internal procedures. Bank of America’s online LLC page separately lists ownership of at least 25% as a condition for applicants using that application channel.
Preparation recommendation: Submit an ownership chart and registration/internal ownership records tracing each tier from the applicant company to individuals. Clearly show the total ownership percentages, indirect ownership calculations, the controller’s managerial role, and the authorization chain. Also prepare information about the controller if no one meets 25%. If records conflict with public registers, organizational documents, or transaction facts, explain the discrepancies first and prepare supporting evidence.
Scope: The preceding 25% threshold and one controlling person are requirements under applicable U.S. CDD regulations, not a universal global standard; the LLC page restriction applies only to that online application channel. The bank may request information about owners below 25% or other controlling persons.

Source:Bank of America — LLC Application Requirements；FinCEN — Customer Due Diligence Rule FAQs, updated May 6, 2026

Exceptions to beneficial-owner verification when opening an account

Basis for Verification: The FinCEN 2026-02-13 exemptive order allows covered institutions to choose not to identify and verify beneficial owners again for every new account. They must do so at least when the customer first opens an account, when there is reasonable cause to doubt the reliability of existing information, or when required by the institution’s risk-based ongoing due diligence procedures. Whether to use the exemption is the institution’s choice; a bank may continue to use a stricter account-by-account process.
Preparation recommendation: Do not omit ownership disclosures in the initial application because of this exception. Prepare information on ultimate owners and controllers that can be updated at any time; if the bank requires it to be resubmitted when adding an account, follow its actual process.
Scope: A selective regulatory exception under U.S. federal CDD rules for covered institutions; this does not establish that the bank has adopted the exception or waive other identity checks or risk reviews by the bank.

Source:FinCEN — Customer Due Diligence Rule FAQs, updated May 6, 2026

Nature of the customer relationship, funds activity, and explanations for unusual transactions

Basis for Verification: FinCEN requires covered banks to understand the nature and purpose of customer relationships on a risk basis, continuously monitor transactions, and maintain and update customer information on a risk basis. The FAQ also states that the CDD Rule does not categorically require all customers to provide a particular type of expected activity information or undergo a specific media search; banks establish a baseline and determine whether to request additional information based on individual risk.
Preparation recommendation: It is advisable to align expected account payments with company contracts, invoices, customers/suppliers, financing, or capital contribution records. For amounts, frequency, countries, or counterparties that differ from the account-opening explanation, have the reasons for the business change and relevant supporting documents ready. Do not misstate expected activity to make it “look normal.”
Scope: Ongoing monitoring and risk-based updates are requirements under applicable regulations; the specific documents, thresholds, and review schedule are determined by the bank’s internal procedures and have not been disclosed in public sources.

Source:Bank of America — How do I open a business bank account?；FinCEN — Customer Due Diligence Rule FAQs, updated May 6, 2026

Entity verification failure and risk of requests for additional documents

Basis for Verification: Bank of America’s online page states that if the bank cannot verify an LLC, it may request state-filed organizational documents; if the LLC uses a different business name, it may request DBA/trade name documents. The application and any requested additional documents must be returned within 11 days of submission; otherwise, the page says the application will be declined and a new application will be required.
Preparation recommendation: Before applying, confirm that the legal name, registered address, trade name, and application form are consistent. Prepare the organisational documents and any applicable DBA registration in advance, and label them as instructed on the page after receiving the application ID. 11 days is only the document-submission deadline stated for this channel, not the account processing time.
Scope: The bank expressly describes its LLC online application process. Document names vary by state, and the page lists separate exceptions for DBA documents in Kansas, New Mexico, and South Carolina. Do not assume that the same timelines apply to other entity types or application channels.

Source:Bank of America — LLC Application Requirements

Ongoing Compliance Requirements After Account Opening

Changes to Ownership, Controllers, and Account Signatories

Bank of America’s Deposit Agreement requires written notice of changes in account ownership or authorized signers. Business accounts must also provide notice of changes to beneficial owners and controlling managers. The bank may request additional information and documents and may continue relying on the original information until it receives notice and has had a reasonable time to process it. It is advisable to contact the bank as soon as possible after a transaction closing, equity restructuring, change of control, or change of signers to confirm the forms to use and the effective date.

Source:Bank of America — Deposit Agreement and Disclosures, effective May 15, 2026

Keep contact and tax information accurate

The deposit agreement requires customers to provide accurate information and notify the bank of changes to their name/address. It also requires customers to notify the bank of changes in their tax obligations and provide other information needed by the bank to fulfil its obligations. Keep records of change notifications and the bank’s confirmation. Confirm with the bank which tax forms/self-certifications apply to the specific account and tax status; do not assume that W-8BEN or W-9 is required for every deposit account.

Source:Bank of America — Deposit Agreement and Disclosures, effective May 15, 2026

Transaction records, account notifications, and risk reviews

Applicable FinCEN CDD requirements call for ongoing risk monitoring by banks. If activity differs from the original account-opening purpose, the bank may update customer information based on risk, including beneficial ownership information where appropriate. The bank’s agreement requires customers to check communications promptly and retain and review transaction records. Neither the regulations nor the bank pages reviewed specify a fixed review cycle or general transaction limit for this customer. We recommend reviewing statements regularly and retaining payment evidence, contracts, and records of business changes in case the bank asks questions.

Source:Bank of America — Deposit Agreement and Disclosures, effective May 15, 2026；FinCEN — Customer Due Diligence Rule FAQs, updated May 6, 2026

Please confirm with the bank before booking

Do our place of incorporation, principal place of business, entity type, and applicant’s place of residence meet the requirements for the specific deposit account channel we intend to apply through? If we do not qualify for the LLC online application, is there another application route?
Please confirm what identity information must be provided by each level of shareholder, each equity holder below 25%, controlling manager, and authorised signatory in this case; are foreign passports, overseas addresses, and verification without an in-person visit accepted?
Which company organizational documents, shareholder/member registers, operating agreements, authorization resolutions, and trade-name registrations require certified copies, translation, or recent issue dates? Are electronic copies accepted, or are originals/notarized documents required?
Please confirm the business purpose, anticipated transactions, supporting evidence for source of funds/initial deposit, and tax forms required to open this account; does the bank have a specific format for describing expected account activity?
Through which channel and within what timeframe should changes to ownership, controllers, address, or tax status be reported? Which changes trigger reverification or temporary account restrictions?
What are the current fees, minimum initial deposit, deadline for submitting additional documents, and estimated processing time for this account? Please distinguish published timeframes from case-specific estimates.

Not confirmed by public information

The public LLC application page only describes conditions for applicants using this online channel whose businesses were formed in the United States and primarily operate there; the bank has not confirmed on the pages reviewed whether foreign entities, non-resident applicants, or other business forms can open accounts at a branch or through other business channels.
Public information does not provide uniform standards for acceptable identification for specific corporate clients, authentication/translation of foreign documents, or additional requirements for owners with less than 25% equity and trusts/multilevel holding structures. These should be confirmed on a case-by-case basis.
Bank of America has not publicly disclosed whether it applies a beneficial ownership exemption order, its risk-scoring criteria, internal PEP/sanctions screening thresholds, its list of source-of-funds documents, or its periodic review frequency or triggers. This should not be taken to mean that PEP status results in automatic rejection, nor should general sanctions laws be treated as an express bank product eligibility condition.
The public pages reviewed do not confirm corporate account-opening fees, specific minimum deposits, processing times, account limits, whether signing remotely from overseas is permitted or the validity periods for different documents. The 11-day period on the LLC page is only the deadline for submitting supplemental documents through that channel.

Sources & Scope of Verification

Bank of America — LLC Application Requirements
The original online application for bank LLCs was actually read. It supports the US formation/operating conditions for this channel, information about applicants and relevant owners/control managers, possible requests for organisational/DBA documents, and the 11-day rule for submitting additional documents. It does not support extending these restrictions to all business channels.
Bank of America — How do I open a business bank account?
The bank’s general business account-opening guide was actually read. It supports the possibility that business address/phone number, account holders, personal identification, EIN, entity formation documents and other documents may be required depending on the entity’s structure. This is general guidance, not a complete mandatory list for a specific customer.
Bank of America — Deposit Agreement and Disclosures, effective May 15, 2026
The current deposit agreement was actually read, covering account-opening information for business non-personal accounts, the accuracy of information and notification of changes, written notice of changes to business ownership/control managers/signatories, obligations to report changes to contact and tax information, and account records/notices. The agreement’s scope should still be checked together with the actual account and state-specific schedules.
FinCEN — Customer Due Diligence Rule FAQs, updated May 6, 2026
The FinCEN CDD FAQ was actually read. It supports collection of information on 25% equity owners and control persons for applicable legal entity customers, institutional discretion under the 2026 account-opening exception, ongoing risk monitoring and risk-based updating of information, and the statement that specific anticipated activity or media searches are not collected uniformly for all customers.

Fees and timelines

The official personal account-opening and LLC pages reviewed do not provide account-opening fees, current minimum deposit amounts, account limits or processing times applicable to all applicants. The bank’s general business guide states that minimum deposits may apply and notes that fees vary by state, directing readers to the relevant state’s Business Schedule of Fees; it does not confirm an amount or currency for a specific product. The LLC page requires any requested supplemental documents to be submitted within 11 days of applying; this is a supplemental-document deadline, not an account-opening timeline. Do not use this information to estimate or promise fees, thresholds or completion times.

Limitations and practical considerations

This profile records only public application information and regulatory facts. It does not mean Bank of America has accepted or approved any individual or company, nor does it represent a currently bookable account-opening channel through Rengangyongsheng.
The page for non-resident foreign individuals requires a US mailing address and an appointment at a US financial center. No public evidence has been found that account opening can be completed remotely from overseas.
Citizens of countries subject to U.S. economic or financial sanctions are required by the bank’s personal banking page to provide proof of lawful residence in the United States. Nationality, residence and control/beneficial ownership information should be disclosed accurately, and the bank should confirm the conditions that actually apply.
The online application channel for U.S. business LLCs requires the business to be formed in the U.S. and primarily operate in the U.S., the applicant to be a U.S. resident, and each applicant to hold at least 25% ownership. The page expressly states that foreign business customers cannot currently apply through this channel. Do not extend this channel restriction to all of the bank’s business products.
As of 2026-10-26, the OCC announced a BSA/AML penalty of 750,000,000 US dollars against Bank of America, N.A. on 2026-10-13; FinCEN announced a penalty of 1,200,000,000 US dollars on the same day and required remediation. This should be disclosed accurately as a significant public regulatory matter. It is not an account eligibility criterion and cannot be used to infer the outcome of a specific application.

Licensing evidence and regulatory verification

A specific entity has been verified, not merely the directory landing page: the current data index time for the official FDIC BankFind institution API is 2026-10-23. The record gives NAME=Bank of America, National Association, ACTIVE=1, FDIC CERT=3510, and OCC CHARTER=13044. The OCC national bank directory, searched by name and current through 2026-09-30, also lists this legal name, charter 13044, and FDIC CERT 3510. This evidence supports the entity’s status as a current national bank and an FDIC-insured depository institution; it does not mean that a particular applicant, account, or product will necessarily be accepted.

Office of the Comptroller of the Currency (OCC; regulator of national bank charters); the FDIC provides deposit insurance Official registration or record

Information sources

Bank of America — Banking essentials for professionals in the U.S.
The bank’s published personal application route for non-U.S. citizens: separate address requirements for NRAs and RAs; two unexpired identity documents and examples of official documents; FTIN/SSN/ITIN where applicable; no blanket SSN requirement; an appointment at a financial center; and the condition that citizens of U.S.-sanctioned countries provide proof of lawful residence.
Bank of America — LLC Application Requirements
The actual requirements listed on Bank of America LLC’s online application page concerning U.S. formation and principal place of business, U.S. resident applicants, foreign entities’ inability to apply through this channel, applicant ownership of 25%, application information, organizational and DBA documents that may be required, the 11-day deadline for submitting additional documents, and the consequences of failing to do so.
Bank of America — How do I open a business bank account?
Possible documents, examples of company formation documents, and ways to get started online, at a branch or by phone, as listed in the bank’s general business account guide. The page states that requirements vary by business structure and location; it is not a complete, uniform list for all entities.
FDIC BankFind API — Bank of America, National Association, Cert 3510
Current FDIC official API index record: legal bank name, ACTIVE=1, FDIC certificate 3510, OCC charter 13044, principal address in Charlotte, North Carolina; index generated at 2026-10-23. Used to verify the specific entity and its insured depository institution status.
OCC — National Banks Active as of September 30, 2026
As of 2026-09-30, the OCC’s official National Bank Directory lists Bank of America, National Association, OCC charter 13044, FDIC CERT 3510, and a Charlotte, NC address, providing verification against the directory record for that entity.
FinCEN — Customer Due Diligence Rule FAQs
Applicable federal bank CDD, risk-based ongoing due diligence, and identification and verification materials for 25% owners of a legal-entity customer and one controlling person; the FAQ has been updated to include the 2026 beneficial ownership exemption order for account opening.
IRS — About Form W-8 BEN
When a foreign person is the beneficial owner of relevant income, provide Form W-8BEN to the withholding agent or payer as required. This does not establish that a bank deposit account requires submission of the form.
IRS — Instructions for the Requester of Form W-9
W-9 is used to request a taxpayer identification number and related certification from a U.S. person (including a foreign national who is a U.S. tax resident); its use is limited to the relevant tax reporting or withholding context.
Congressional Research Service — The Foreign Account Tax Compliance Act
The U.S. Congressional Research Service states that the United States has not joined the OECD CRS and that FATCA and CRS differ in reciprocity of information exchange; this is used to distinguish U.S. FATCA accurately from CRS.
IRS — Foreign Account Tax Compliance Act
The IRS’s official explanation of FATCA and the foreign financial institutions, US account holder information reporting and relatedframework reference pages it covers.
U.S. Treasury OFAC — Starting an OFAC Compliance Program FAQs
OFAC states that financial institutions must not violate the sanctions laws it administers and explains that compliance arrangements depend on the institution’s risk, business, and regulatory requirements; OFAC itself is not a bank regulator.
OCC — OCC Imposes $750 Million Assessment Against Bank of America, N.A. for Deficient BSA/AML Compliance
OCC 2026-10-13 announced a civil money penalty of 750,000,000 dollars against Bank of America, N.A., the identified BSA/AML deficiencies, and its continued subjection to the 2024-year cease-and-desist order.
FinCEN — In the Matter of Bank of America, N.A.
FinCEN’s specific enforcement record against Bank of America, N.A., listing case number 2026-03 and publication date 2026-10-13.
FDIC — Understanding Deposit Insurance
The FDIC explains the scope of insured deposits and the standard limit of US$250,000 per depositor, per insured depository bank and per ownership category, and that nondeposit products such as securities, mutual funds and annuities are not insured.

Verification

Research verification

Most recently verified: 2026-10-26
Status: Some information remains to be confirmed: Bank of America, National Association's current bank entity record, charter 13044, FDIC certificate 3510 and insured deposit status have been checked against the official FDIC API and the OCC national bank list dated 2026-09-30; the bank's personal non-citizen pathway and LLC online application page have been reviewed. The actual application channels for individuals/companies involving particular statuses, foreign shareholders or overseas entities, the deposit account tax self-certification format, detailed acceptable proof of address, complete documentation for all entities, fees and processing times have not been confirmed by public information and should be verified with the bank in writing.
Author: Drew

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