connectingmatrix

The formation journey

Forming a US company is a sequence, not a single step. First your company is filed with the state, then it gets its EIN — and once that is in hand, your ITIN and US bank account move ahead in parallel. Here is the whole path, with the timelines you can realistically expect. This is general information, not legal or tax advice.

To a working bank account~3 weeksRange: ~3–8 weeks
Start your company
  1. Step 1

    File with the state

    Your company legally comes into existence

    We run a name-availability check, prepare your Articles of Organization (LLC) or Certificate of Formation (Corp), and file them with the Secretary of State. When the state approves, your company legally exists — and nothing downstream can start until it does.

    • Chosen formation state
    • Company name
    • Registered agent (included)
    • State filing fee
    • Owner / organizer details
    1–3 daysRange: 1–3 business days
  2. Step 2

    Get your EIN

    Your company's federal tax ID

    Once the company exists, we apply to the IRS for your Employer Identification Number — the tax ID your business uses to open a bank account, hire, and file taxes. It is assigned to the named legal entity, which is why we form the company first.

    • Approved formation documents
    • Completed Form SS-4
    • Responsible-party details (“Foreign” / “N/A” on line 7b if no SSN/ITIN)
    ~4 daysRange: ~4 days to ~4 weeks
  3. Once your company exists, these run in parallel
  4. Step 3 Parallel

    Apply for your ITIN

    Your personal US tax ID — only if you need one

    If your personal circumstances require a US taxpayer ID, we help you file Form W-7 — usually alongside a federal tax return or a documented exception. Because it depends only on your tax status, it runs in parallel with your bank account and never holds up your company.

    • A qualifying US tax purpose
    • Completed Form W-7
    • Valid passport / accepted ID
    • Attached federal tax return, unless an exception applies
    ~7 weeksRange: ~7 to 11 weeks
  5. Step 4 Parallel

    Open your US bank account

    Start receiving and spending in USD

    You can open a US business account with just your EIN — no ITIN or SSN needed. For most fintech providers it is a remote application using your EIN, formation documents, and passport; approval is case-by-case and depends on your country of residence and business.

    • EIN confirmation letter — no ITIN or SSN needed
    • Formation documents
    • Valid passport (some ask for a second ID)
    • Sometimes a US business address
    ~2 daysRange: ~1 to 5 business days
  6. Step 5 Parallel

    Confirm your FinCEN BOI status

    Beneficial-ownership reporting — usually nothing to file

    Once your company exists, we check whether you have a FinCEN beneficial-ownership (BOI) obligation. Under the current interim rule, US-formed entities file nothing — but we confirm it and flag you if the rules change, so you are never caught out.

    • Beneficial-owner details on file, in case rules change
    Exempt (US)Range: No filing for US-formed companies

The account itself opens in days once your EIN is in hand — the real wait is state filing plus EIN issuance. Adding an ITIN pushes the complete-everything milestone to roughly 2–4 months, but because it runs in parallel with banking it never delays when you can start operating. Every figure is an estimate that varies with your state, filing method, and IRS or USPS backlogs.

  • This is general information, not legal or tax advice. Every timeline is an estimate that varies with your state, filing method, IRS and USPS backlogs, tax season, and country of residence — we verify current processing times at the moment you file.
  • The dependencies are real: the entity must exist before the EIN, and the EIN before the bank account. Only the ITIN and the bank account can run at the same time.
  • You do not need an SSN or ITIN to obtain an EIN or to open many fintech business accounts — don't let an ITIN application block your formation or banking. Start it in parallel only if your personal tax situation actually requires one.
  • IRS figures (about 4 business days by fax, about 4 weeks by mail for the EIN; about 7 weeks for the ITIN) are the agency's own estimates and can extend during backlogs and peak season. Treat every number as a range, never a guarantee.
  • Bank and provider policies shift — address and ID rules tightened across 2025–2026, and approval is never guaranteed. We confirm each provider's current requirements before applying.
  • FinCEN BOI: under the March 2025 interim rule, US-formed companies file no beneficial-ownership report — only foreign-formed reporting companies do. It is an interim rule, so we confirm your status and flag any change.
Sourcessos.wyo.govcorp.delaware.govdos.fl.govnvsos.govirs.govirs.govirs.govirs.govfincen.govfederalregister.gov

Plan the details

Timelines depend on a few choices you make up front. These go deeper on the parts that move your dates around.

Compare states by speed

Filing times vary state by state

Registered agent & address

The address question, explained

US bank account help

What you need to open one

For non-US founders

No SSN, no US address required

Ready to start the clock?

Tell us about your company and we'll begin the filing — with your registered agent, EIN, and next steps handled end to end.