Trying to open a bank account for a bankruptcy estate as an individual? You will need to have the bank account to do normal business operations as the bankruptcy estate organization. Having a good handle on this is crucial so you can flow resource gains from the bankruptcy estate into a single source. First, you must fully understand the definition of a Bankruptcy Estate (Individual)
One of the primary requirements for opening a bank account for the bankruptcy estate is to have a federal employer identification number. Applying for a Tax ID (EIN) number for an estate is crucial as it allows you to operate as an organization, work with banks to open the account, file tax returns, and more. You want to work with a Tax ID service professional to obtain an estate EIN number. Once you have the EIN number, bring all your official estate documents with you (including your estate Tax ID / EIN) and any large bank chain should allow you to open an estate bank account so long as you have these documents.