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DAP Forums > DREAM Act > The Lounge

Undocumented How to : open a business bank account

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#1
05-24-2011, 01:52 AM
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po3m
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I barely turned 25 i'm a graphic designer and web developer by trade and i have a free magazine that i want to publish,I'm undocumented and i need a business bank account , does anyone know how can i open one ? i saw somewhere here that you can open one with an itin number , but i could not find the post. so i'm just reposting my q here.......

heres the mag in magcloud: http://www.magcloud.com/browse/Issue/197877
and heres my website for sales: sales.thelosangelesdiary.com

help me out please , i really would like to get this going the legal way
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#2
05-24-2011, 03:14 AM
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hollisterco
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how about being a contributing member before coming to ask for help on how to charge for your $6.40 magazine in the first place, this is not what this forum is for
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#3
05-24-2011, 06:12 AM
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From San Bernardino, CA
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LifeDreamer
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Quote:
Originally Posted by hollisterco View Post
how about being a contributing member before coming to ask for help on how to charge for your $6.40 magazine in the first place, this is not what this forum is for
Don't listen to that foo...


I use to own a City Newspaper that printed 20,000 copies..

This is how you do it.. To open a business account you need to have a legal business. This is because the Bank will ask you for your business licences, your EIM (employer identification number) and A fictitious business name statement if your doing business under a business name and not your own name. You also have to show a legal form of I.D. Most banks accept a consular card...I used my consular card from my home country. There are a lot of consular locations in the U.S find the one that belongs to your country.

You need your EIM to get your business licences and you can get your EIM online with your TIN number, real name and address at www.irs.gov.

Once you have your EIM You can get your business licence at City Hall. This is where it gets tricky they will ask you for a drivers license number on the registration form. I was lucky enough that my father has the same name as me. But you can work your way around that hurdle by being creative .


Once you get your business licence your free to do business legally in the United States and thus free to become a millionaire.. Don't forget about me


One more word of advice you will not be able to be anything other then an LLC or a sole proprietor .
Last edited by LifeDreamer; 05-24-2011 at 08:15 AM..
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#4
05-24-2011, 10:04 AM
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Jblaze
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It depends what state your in

There are services that do this whole process for you. Once your company has been published, you simple call the IRS and go through step by step on your company and at the end they should give you a EIN. With that and the company records you will be able to open a bank account. To open a company account you don't even need a TIN number. I have been able to get all this information without so much as setting up from my house. If for some reason they ask for a drivers license... simply use a passport and say your a tourist opening up a company here, which is perfectly legal for a tourist to do. thats why you are able to open companies with no social security.

Note: I have only opened up LLC and S - Corps...

you should be able to open a company account with no problem in any state without committing any crime..
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#5
05-24-2011, 03:07 PM
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po3m
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Quote:
Originally Posted by hollisterco View Post
how about being a contributing member before coming to ask for help on how to charge for your $6.40 magazine in the first place, this is not what this forum is for
thats magclouds price they charge.25 cents per page my my magazine is 32pages do the math. And i never asked on how/what to charge ... i just need help on opening a business bank account.
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#6
05-24-2011, 03:13 PM
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po3m
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Quote:
Originally Posted by LifeDreamer View Post
Don't listen to that foo...


I use to own a City Newspaper that printed 20,000 copies..

This is how you do it.. To open a business account you need to have a legal business. This is because the Bank will ask you for your business licences, your EIM (employer identification number) and A fictitious business name statement if your doing business under a business name and not your own name. You also have to show a legal form of I.D. Most banks accept a consular card...I used my consular card from my home country. There are a lot of consular locations in the U.S find the one that belongs to your country.

You need your EIM to get your business licences and you can get your EIM online with your TIN number, real name and address at www.irs.gov.

Once you have your EIM You can get your business licence at City Hall. This is where it gets tricky they will ask you for a drivers license number on the registration form. I was lucky enough that my father has the same name as me. But you can work your way around that hurdle by being creative .


Once you get your business licence your free to do business legally in the United States and thus free to become a millionaire.. Don't forget about me


One more word of advice you will not be able to be anything other then an LLC or a sole proprietor .
yea i asked a couple of banks and they told me that i needed an eim number i have a fictitious name already , but thats all that i have . so i need itin number first then get an ein number , so use the itin number as a social then apply for an llc right ?
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#7
05-24-2011, 05:12 PM
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LifeDreamer
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Quote:
Originally Posted by po3m View Post
yea i asked a couple of banks and they told me that i needed an eim number i have a fictitious name already , but thats all that i have . so i need itin number first then get an ein number , so use the itin number as a social then apply for an llc right ?
Yea that's right..

Good luck with everything..

PM me if you need more help..
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