Corporate Resolution To Open A Bank Account

⬇ Download free template (PDF)

Use this resolution to authorize individuals to open and manage bank accounts, sign checks, apply for loans, and conduct other financial actions on behalf of your corporation.

DOWNLOAD BANKING RESOLUTION TEMPLATE

What Is a Banking Resolution?

A banking resolution is a formal corporate act—often adopted by the board—that empowers specific individuals to conduct banking duties like opening accounts, making withdrawals, applying for credit, or endorsing checks. It’s commonly required by banks to verify authority.

This document is separate from state filings and remains internally stored; however, most financial institutions require it before opening or modifying business accounts.

What Should This Template Include?

Company details: legal name, principal address, EIN (if available).
Meeting details: date, location, authority under which resolution is adopted.
Authorized individuals: names, titles (e.g., President, CFO), and banking powers.
Authority granted: open/close accounts, sign checks, borrow funds, update signers.
Indemnification clause: bank protected when acting in good faith on resolution.
Duration: effective date and whether resolution expires or remains until rescinded.
Signatures: required signatures (e.g. Secretary, Chair); corporate seal if used.

Common Questions

Who adopts this resolution?

For corporations, the board of directors typically adopts the resolution at the first board meeting. LLCs may use similar resolutions via managers or members if desired.

Is this legally required?

While not mandated by state law, most banks require a banking resolution before processing corporate accounts or lending. It also clarifies internal authority.