UFCU Business Account Requirements

Opening Your Business Account is Simple and Straightforward 


icon What You Need to Know 

We're here to help you and your business thrive. That's why we offer business accounts with all the right features to ensure you succeed. In order to verify your business and the people involved in it's operation, we ask for a few pieces of information while setting up your accounts. All financial institutions are required to obtain this information before opening business accounts; based on the account you need, here's what we'll need to open your business accounts:

General Information for Business Account Requirements

All owners, partners, key executives, and authorized signers must be present at account opening. Please note, the following documents are required (not recommended). 

    • Two (2) valid forms of ID; one (1) must be a government issued picture ID (i.e. valid driver's license, valid passport, state-issued ID card, military-issued ID card, etc) 
    • Taxpayer Identification Number, for both the business and the individuals opening the account
    • Utah requirement of all entities filing with Utah Dept. of Commerce, with Active Status
    • Business organizational documents
    • Additional documents may be requested if needed


» Sole Proprietorship

    • DBA application filed with Department of Commerce
    • Certificate of Assumed Name filed with Department of Commerce

» General Partnership

    • DBA application
    • Certificate of Assumed Name filed with Department of Commerce
    • Partnership Agreement if a managing partner has been appointed

» Limited Partnership

    • Certificate of Limited Partnership
    • Partnership Agreement

» Limited Liability Partnership

    • Partnership Agreement
    • Statement of Qualification

» Limited Liability Company (LLC)

    • Certificate of Organization
    • Operating Agreement

» Non Profit Associations

    • Bylaws, minutes, charters, that state the identity of all responsible parties and authorized signers

» Corporation

    • Articles of Incorporation
    • Operating agreement
    • Bylaws, charters, or minutes that state the identity of all responsible parties and authorized signers
    • No foreign corporations, registered outside the state of Utah

 

icon University Federal Credit Union is here to support you and your business. Let us help you protect your livelihood and your future with comprehensive business accounts and services. Open your business account today: call 801-481-8800 or visit your nearest UFCU branch for more information.