A clubs bank Account

[Cruiser Jimmy]

To any TLCA officer or individual club treasurer,

I am trying to open a bank account under the clubs name. The bank that I when to to open the account (Chase) would not open one as we did not have a Tax ID number. They refered me to the county government level to see if a tax ID could be obtained. Well no luck.

1. Where can a Tax ID be obtained for a non-profit club? State, Federal?
2. What articles of organization are typically needed to show the government you are organized?


Thanks,

[woody]

you should be able to register your club as a business with the state and obtain the proper ID numbers that way.

non profit, 501-C7 IIRC....501-C3 is a charity (which sounds nice, but yer not...lol)

http://www.in.gov/sos/business/

[miletwo]

A bank can only provide an account to a legal entity... like a person or legal business. If you incorporate your club as a legal non-profit and provide the bank with your articles of incorporation, you can open an account on behalf of your legal entity of which you are an officer. Otherwise, you can file DBA (doing business as) papers with the state in order to be (yourname) DBA someclub and get a DBA account for yourself DBA the club which will allow you to recieve checks written to "the club name" and also to have checks made with the club's name as well. However, in the case of the DBA, the account owner must be a person who is doing business under the pseudonym.

Hope that helps,

Jeremy

[woody]

some comments on setup too...

most clubs I've belonged to get a checkbook, and it's set to require two signatures (usually, officers, ie: sec and pres). Works nice, but remember that everytime you run nominations, those names change, and new checks and new signature cards need to be on file with the bank.

I ran LCL as cash-only...

IIRC, it was $40 the first year for the club business setup, and $25 a year renewal...all states vary tho...also, a PO box helps keep that stuff going to ONE addy, versus a new officer/new addy every year. More hassle/expense tho, unless you can designate one lifer in the club to handle it.

[TexasBadlands]

In the Masonic lodge we require 3 signatures. Gotta keep all that treasure safe ya know......

[Land Schmoozer]

Well funny you should ask this. When we moved the TLCA accts from a local bank to a national bank it was not a fun experience. We have a tax number, acticles of incorporation, tax returns, blah, blah, blah. I still had a very difficult time getting it done. Come to find out there is a law inacted after 911, that makes this difficult for money washing reasons. After much complaining and badgering it was accomplished.

My suggestions: go to a small local bank or go to a bank where you know someone...