Single Member LLC SSN vs EIN… When to use which

[rfromny]

I just started a single-member LLC and have yet to receive the TR-570 form, but will be remaining a disregarded entity. I do have an EIN for the business that I attached to the LLC when I registered with NYSDOS. I understand that for my W-9, it will have my SSN/Name.

My Questions:

If I want to open a business bank account, does that need to have my SSN as well? Or the LLC's EIN?
Do I need to formally attach my SSN to the LLC through the NYSDOS through some form so they know it's being used with the LLC, or is this accomplished by the W-9/tax return?


Thanks

Ryan

[Business Attorney]

The answer to your question probably varies from bank to bank. As far as the tax rules, the FEIN of the LLC should suffice. The "know your depositor" rules, however, are are likely to be viewed by the bank to require your SSN as well. You can really only find out by talking to the specific bank, as I have found that policies and procedures do vary from bank to bank.