UK Entrepreneur Secures ITIN to Open a U.S. Business Bank Account

Problem

Aisha formed a Delaware LLC for her online business and obtained an EIN. But several U.S. banks required the beneficial owner to have an ITIN or SSN on file for the personal account associated with the business. Without it, her LLC bank account applications were declined or pending indefinitely.

Approach

We filed Aisha's W-7 under the exception for third-party withholding or tax treaty benefit, certifying her UK passport as a CAA in-person. No documents were mailed to the U.S. — the entire certification was completed locally.

Outcomes

• ITIN issued in 12 weeks — Standard service
• Passport certified locally — no mailing to IRS or embassy
• U.S. business bank account opened using ITIN + EIN combination
• Stripe and PayPal accounts fully verified
• UK–U.S. treaty benefit claimed via W-8BEN

EIN vs. ITIN — What You Actually Need

There's a common misconception among UK entrepreneurs forming U.S. companies: they think an EIN (Employer Identification Number) is enough to open a U.S. bank account. An EIN is assigned to the entity — the LLC. But most traditional U.S. banks also require identification for the beneficial owner, the person behind the company.

For a U.S. citizen or resident, that's a Social Security Number. For a foreign national, it's an ITIN. Some banks — particularly online-only fintech banks like Mercury or Relay — can open accounts with just an EIN and a passport. But for accounts at Chase, Bank of America, Wells Fargo, or Citibank, an ITIN for the account signatory is often required or strongly preferred.

Why Passport Certification Matters

When applying for an ITIN via Form W-7, you must verify your identity and foreign status. The IRS accepts three methods: mailing your original passport to Austin, Texas; having a U.S. embassy or consulate certify it; or working with an IRS Certifying Acceptance Agent (CAA).

As a CAA, ITINSERVICES can certify passports directly. Aisha met with our team, we verified and certified her UK passport on the spot, attached the certification to her W-7, and submitted the application to the IRS. Her original passport never left her hands.

Banking and Payment Processor Access

Once Aisha received her ITIN, she combined it with her existing EIN to complete her bank account applications. She also submitted Form W-8BEN-E to Stripe and PayPal, claiming the UK–U.S. tax treaty benefit on any U.S.-source income subject to withholding.

For UK entrepreneurs building U.S.-facing businesses, an ITIN removes one of the most frustrating administrative barriers: the inability to open U.S. financial accounts. With the right ITIN documentation, the same banking infrastructure available to U.S. residents becomes accessible.