Opening a Stripe account with your US LLC, step by step

Before you start

• The LLC approved by the state, with its exact legal name.
• The EIN letter from the IRS. Use the name and EIN exactly as on that letter.
• A US business bank account in the LLC's name for payouts.
• A business address and phone number. Do not use the registered agent's address as your business address.
• Your passport for the identity check.
• A live website, ready before you apply (see below).

Filling in the application

• Country: United States. Business type: company, then LLC. Enter the legal name and EIN exactly as the IRS has them; a mismatch is the most common reason for a check.
• Industry and description: pick the closest category and describe in one or two plain sentences what you sell and to whom.
• Website: the URL where customers buy or see your product.
• Representative and owners: your own details as owner. Without an SSN, Stripe asks you to verify with your passport instead.
• Bank account: routing and account number of the LLC's US account.
• Statement descriptor: the name customers will see on their card statement. Make it recognisable, to avoid disputes.

What your website needs

Stripe looks at the website before and after approval. A thin site is the main reason for delays. Make sure it shows:

• What you sell, with prices.
• Contact details: an e-mail address and preferably a phone number.
• Terms, a privacy policy, and a refund and cancellation policy.
• For physical goods: shipping times and costs.
• The company name, so customers can see who they are buying from.

Payouts and fees

Payouts go to the LLC's US bank account, usually on a rolling schedule of a few business days; new accounts often start a little slower. For US cards Stripe's standard price at the time of writing is 2.9% plus 30 cents per payment, with a surcharge for international cards and for currency conversion. Check Stripe's own pricing page for your account.

Avoiding holds and closed accounts

• Describe your business honestly and keep it the same as what the website shows.
• Check Stripe's list of restricted businesses before you apply.
• Start with normal volumes; a sudden spike of large payments triggers reviews.
• Answer Stripe's questions quickly and completely, with documents in the LLC's name.
• Keep disputes low with a clear statement descriptor, fast delivery and an easy refund process.

After you are live

Stripe payouts are company income. Book them, together with Stripe's fees and refunds, so the LLC's records match its bank account. CORA connects to Stripe and books the sales automatically.

Frequently asked