How to Open a US Business Bank Account from the Netherlands
If you have formed a US LLC from the Netherlands, the next hurdle is banking. Here is what actually gets Dutch founders approved, and what to do when a bank says no.
Why the LLC has to exist before the bank account
US banks and fintechs will not open a business account for an idea. They need a formed legal entity first, meaning your LLC has to be registered with a state (Wyoming, Delaware, and New Mexico are common choices for non-US founders because of low fees and no state income tax on out-of-state activity) and have a Certificate of Formation or Articles of Organization on file. You also need a Registered Agent with a physical address in that state. Once the LLC exists on paper, the next step is getting an EIN, and only after that can any bank actually open an account.
EIN, not ITIN, is what banking requires
A lot of Dutch founders assume they need an ITIN (Individual Taxpayer Identification Number) before they can bank in the US. You do not. An ITIN is a personal tax number for people who are not eligible for a Social Security Number but still need to file US personal taxes. It has nothing to do with visas and nothing to do with opening a business account.
What every provider actually asks for is an EIN (Employer Identification Number), issued to your LLC by the IRS. As a non-US founder with no SSN or ITIN, you apply using Form SS-4 and file it by fax or mail rather than online, because the IRS online EIN tool is restricted to applicants with a US taxpayer number. Processing by fax typically takes a few weeks. This is the single step that trips up the most people, because it cannot be rushed and it cannot be skipped.
Providers that actually onboard Netherlands residents
Not every US bank will work with a non-resident. These three are the ones that consistently do, though each has a different risk appetite and process.
| Provider | Type | Netherlands residents | Notes |
|---|---|---|---|
| Mercury | Fintech, FDIC-insured via partner banks | Yes, commonly used | Fully remote application, needs EIN and formation documents, reviews the business model before approval |
| Wise Business | Multi-currency business account | Yes | Good for holding EUR and USD together, easier onboarding but fewer traditional banking features like cheques |
| Relay | US business banking platform | Sometimes, more selective | Historically leaned toward applicants with a US-based team member or address, worth trying as a second option |
Approval decisions can change, and each provider runs its own risk assessment on every application, so it is worth having a backup plan rather than betting everything on one platform.
Documents to have ready
- LLC formation documents (Certificate of Formation or Articles of Organization)
- EIN confirmation letter from the IRS (the CP 575 or the 147C if you lose the original)
- Passport for every owner and any authorised person on the account
- Proof of address, a recent Dutch utility bill or bank statement is usually accepted
- A clear, one paragraph description of what the business actually does
- A working business email address and, ideally, a live website or landing page
Common reasons Dutch applicants get declined
Declines are rarely random. The patterns show up again and again:
- Using a residential address in the Netherlands as the business address instead of the LLC's US registered agent address
- A vague or generic business description that does not match the LLC's stated purpose
- Applying from a VPN or with an IP address that does not match the stated location, which reads as a red flag to fraud systems
- Name mismatches, for example a passport that shows a different name order or spelling than the formation documents
- Operating in a category the provider treats as high risk, such as crypto, gambling, or CBD, without disclosing it upfront
- Forming several LLCs in a short window under the same name, which can look like shell company behaviour even when it is not
What to do if you are declined
A decline from one provider is not a ban from US banking. Start by asking, in writing, why the application was rejected, since some providers will tell you directly. Fix the specific issue, whether that is the business address, the description, or a missing document, then apply to a different provider rather than reapplying immediately to the one that said no. Having a real business email domain and a simple website tends to help across the board, because it gives the compliance team something concrete to check.
This is also where working with a service that handles LLC formation, EIN filing, and bank introductions together helps, since Founders Credit sets these up in the order that banks expect to see them, which avoids a lot of the mismatches that cause declines in the first place.
Staying compliant once the account is open
Opening the account is not the end of your US obligations. A foreign-owned single-member LLC has to file Form 5472 along with a pro-forma Form 1120 every year, even if the LLC had no income and did no business. Form 5472 is an information return, it reports transactions between the LLC and its foreign owner, it does not calculate any tax owed on its own. The penalty for not filing is 25,000 dollars, and it applies whether or not you owed any tax, so this filing needs to happen on schedule regardless of how quiet your first year was.
Glossary
EIN: Employer Identification Number, the tax ID issued by the IRS to your LLC, required for banking and tax filing.
ITIN: Individual Taxpayer Identification Number, for people ineligible for an SSN who need to file US personal taxes, not required to open a business bank account.
Registered Agent: a person or company with a physical address in your LLC's state that receives legal and state mail on the LLC's behalf.
Form 5472: an annual information return foreign-owned LLCs must file alongside a pro-forma Form 1120, reporting transactions with the foreign owner.
Responsible Party: the individual named on the EIN application who controls the LLC's funds and assets, this can be a non-US person without an SSN or ITIN.
The order matters: form the LLC, get the EIN, then apply for banking. Applying out of order is the most common reason applications stall.
Frequently asked questions
Do I need to visit the US to open a business bank account for my LLC?
No. Mercury and Wise Business are both built for fully remote onboarding, and neither requires you to visit a US branch. Relay can also be done remotely, though it is more selective about who it approves without a US presence.
Can I open a US bank account before I have an EIN?
Generally no. Every mainstream provider asks for your EIN confirmation as part of the application, since it is how they verify your LLC is a real, IRS-registered entity. Apply for the EIN as soon as your LLC formation is filed.
Is an ITIN required to open a US business bank account?
No. An ITIN is a personal tax filing number and has nothing to do with opening a business account. Business banking is tied to your LLC's EIN, not to any personal tax number of the owner.
Why did Mercury or Wise reject my application even though my LLC is properly formed?
Common causes are a mismatched or residential business address, a vague business description, applying via VPN, or a high-risk industry that was not disclosed clearly. Review the specific decline reason if given, fix it, and apply to an alternative provider.
What happens if I forget to file Form 5472 for my LLC?
The penalty is 25,000 dollars per missed filing, and it applies even if your LLC had zero income or activity that year. Form 5472 with the pro-forma Form 1120 is required annually for foreign-owned single-member LLCs regardless of whether tax is owed.
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