What is a banking resolution?

A banking resolution is a document that is used to formally authorize the creation of a corporate bank account, and further define the roles, obligations, and privileges of each member of the company with respect to banking activities.

What entities need a banking resolution?

Banking resolutions are required for all legal entities, including corporations, nonprofits, and LLCs.

What should a banking resolution contain?

A banking resolution usually contains the name and address of the company and the details of the banking activities authorized. This typically includes the names of all officers authorized to make transactions through the company account and the specific transactions authorized by the company.

How is a banking resolution adopted?

A banking resolution is formally adopted when it is accepted during a board meeting, and signed by the secretary or other authorized corporate officer.

Banking Resolution

Our banking resolution is the simplest way for a company to authorize opening a bank account or to designate who can manage an existing account.

A banking resolution is required to record company decisions and show financial institutions who is authorized to open or manage accounts on the company’s behalf.

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Banking Resolution

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When to use a banking resolution

To open and operate a company bank account
To prove authority to financial institutions
To appoint or change bank signatories for your company
To authorize other financial decisions on behalf of a company

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Gather Information

As you complete your banking resolution you will need to provide certain relevant information, including the name of the financial institution and the names of those authorized to transact on the account.

Complete the Questionnaire

Our questionnaire will help you customize your document for your company, providing step-by-step instructions. You may notice that the questions presented to you change depending on how you answer them.

Review and Adopt

Review your completed resolution in its entirety to ensure that it meets your needs and is free of errors. While you do not need to sign the banking resolution, it must be formally adopted during a board meeting by the secretary or other authorized corporate officer.

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