Relay Bank for Non-Resident LLCs: Full Guide

Relay has become a popular pick for founders who want free sub-accounts and clean bookkeeping, but non-residents need to know exactly what documentation gets an application approved rather than stuck in review.

What Relay Is (and Isn't)

Relay is a US business banking platform built for founders who want more structure than a single checking account. It offers checking accounts, up to twenty sub-accounts, physical and virtual debit cards, ACH transfers, wire transfers, and direct integrations with QuickBooks and Xero. Relay itself is not a bank. Deposits are held at a partner bank and insured through the FDIC in the usual way, which is standard practice for most fintech-style business banking products in the US.

Relay was originally built with US-based small businesses in mind, but it has become increasingly workable for non-resident founders who run a US LLC, provided the application is put together correctly. It is not a payments processor and it is not designed for personal banking, so if you are looking for a place to hold personal savings this is not it.

Can Non-US Residents Open a Relay Account

Yes, in many cases, though approval depends on your documentation, your business model, and how the application is completed. Relay generally wants to see a genuine US LLC, a valid EIN, and clear identity verification for the beneficial owner. Founders without a Social Security Number can often still apply using a passport and, in many cases, an ITIN, though requirements can shift and are not guaranteed for every applicant.

Because Relay's underwriting can be less predictable for non-residents than for Mercury or Wise, it is common for founders to apply to more than one platform in parallel. Having your LLC, EIN, and supporting documents fully in order before you apply is the single biggest factor in a smooth approval, which is exactly the groundwork Founders Credit puts in place before submitting any banking application on a client's behalf.

Documents You Will Typically Need

• Certificate of Formation or Articles of Organization for your LLC
• EIN confirmation letter from the IRS (the CP 575 or 147C)
• Operating Agreement, particularly for single-member LLCs
• Valid passport for every beneficial owner with 25 percent or more ownership
• A US business address (a registered agent address is usually acceptable)
• A working description of what your business actually does

If your LLC was formed recently, keep in mind that your EIN takes time to arrive by mail or fax if you are a non-resident without an SSN or ITIN, since the IRS does not issue non-resident EINs instantly online. Build that lead time into your plans before you assume a bank account is a same-week task.

Step by Step Onboarding

1. Form your US LLC, typically in a low-cost, business-friendly state like Wyoming.
2. Apply for your EIN using Form SS-4, by fax or mail since the online EIN system is not available to applicants without an SSN or ITIN.
3. Gather your formation documents, EIN letter, and identification.
4. Complete the Relay application online, entering the business details and beneficial owner information exactly as they appear on your official documents.
5. Respond quickly to any verification requests. Mismatched addresses or inconsistent business descriptions are the most common causes of delay.
6. Once approved, fund the account and set up your sub-accounts before you start transacting.

Sub-Accounts: How They Work and Why They Matter

Relay's sub-accounts are one of its most useful features for founders who want to run their finances cleanly from day one. You can open multiple sub-accounts under the same LLC without separate applications, each with its own account number, and use them to separate funds by purpose. Common setups include:

• An operating account for day-to-day inflows and outflows
• A tax reserve account where you set aside a percentage of revenue automatically
• A payroll or contractor account
• A savings buffer for slow months

You can move money between sub-accounts instantly with no fee, which makes Relay genuinely useful for envelope-style budgeting rather than a gimmick. Each sub-account can also get its own debit card, so you can hand a card to a contractor or a specific project without exposing your main balance.

Cards, Payments, and Fees

Relay issues both physical and virtual debit cards tied to individual sub-accounts, which is helpful for controlling spend by category or team member. Relay supports domestic ACH transfers and outgoing and incoming wires, including international wires in many cases, though currency conversion is generally handled through the wire itself rather than a built-in multi-currency wallet like Wise offers. There is no minimum balance requirement and the core checking account has no monthly fee, though wire transfers typically carry a cost, so it is worth checking current pricing directly on Relay's site before relying on it for frequent international payments.

Relay vs Mercury vs Wise

Many founders end up using two of these together, for example Relay for domestic structure and Wise for receiving and holding foreign currency, since none of them are mutually exclusive.

Common Sticking Points for Non-Residents

The most frequent issues we see are inconsistent business addresses between the LLC filing and the bank application, an EIN letter that has not yet arrived, or a business description that sounds vague or high-risk to automated underwriting. Industries like crypto, adult content, or certain high-volume trading businesses face extra scrutiny across almost every US banking platform, not just Relay. Getting the paperwork internally consistent before you apply, and describing your business plainly and specifically, solves most of these problems before they start.

Tax and Compliance Reminders

Opening a bank account does not remove your compliance obligations. A foreign-owned single-member LLC is required to file Form 5472 together with a pro-forma Form 1120 every year, even if the LLC had no income and no activity. This is an information return, it does not calculate tax owed on its own, but failing to file it can trigger a penalty of 25,000 dollars, so it is not something to treat as optional paperwork. Keep your Relay statements and sub-account records organized throughout the year, since clean records make this annual filing far less stressful.

Where Founders Credit Fits In

Founders Credit sets up the full stack for non-resident founders, the LLC, the EIN, the ITIN where relevant, and the US business bank account application, done remotely from start to finish. Because we prepare the documentation before submitting to a banking partner like Relay, applications go in clean the first time instead of stalling on avoidable mismatches.

Glossary

EIN: Employer Identification Number, the tax ID the IRS issues to a business, required to open a US bank account.

ITIN: Individual Taxpayer Identification Number, issued to people who need a US tax ID but are not eligible for a Social Security Number. No US visa is required to obtain one.

Registered agent: A person or company with a physical address in your LLC's state who receives official mail and legal notices on the LLC's behalf.

Form 5472: An annual information return required for foreign-owned single-member LLCs, filed together with a pro-forma Form 1120, even when the LLC has no income.

Sub-account: A separate account under the same LLC and bank relationship, used to organize funds by purpose without opening a new legal entity or new application.

Frequently asked questions