Post a new topic
    3 Replies Latest reply on Apr 18, 2008 1:27 PM by usfinances

    New Business Account for Foreign Client

    usfinances Newbie

       


      I'm an accountant, and my Foreign client (he also has ss#) asked me to register a new business for him in state of NJ, and open a business account in Bank Of America for his new business, that he would be able to access it online, do international and domestic wire transfers (Direct Payments Service). Also he is gong to be the only owner of the account.

       

      My questions are

       

      What papers (if any) do I have to have to be authorized to open a business account for my client in Bank of America?

       

      When I register an account online do I have to submit his or mine signature at any time?

       


      Thanks

       

      Louise
        • Re: New Business Account for Foreign Client
          dublincpa Scout

          I strongly recommend doing serious research on this and/or getting help from someone with significant experience. I am sure it is all legit and the client is on the up and up, but my trouble detector is sounding loudly.

          I would discourage you from becoming an officer, director or gaining other signatory authority over any accounts. Who knows what you could get wrapped up in? At the very least, those are things to avoid for simple clients unless you have fantastic E&O insurance.

          Good luck.
            • Re: New Business Account for Foreign Client
              usfinances Newbie
              I thank you for the reply, though I don't understand what kind of "help from someone with significant experience" is needed to open an account.
              I'm not going to be an office of the company, and I'm not going to be a cosigner on the account.

              I thought that I asked very straight forward questions.
              But that's OK, I'll call representative for help.
              Thank you any way.
            • Re: New Business Account for Foreign Client
              LUCKIEST Guide
              New Business Account for Foreign Client
              The best answer is to talk to a Bank of America Rep and let them help you.
              As dublincpa suggested, do it right and be careful
              LUCKIEST