Firstbase.io requires multiple steps to complete the entire process from incorporation to opening the business bank account. Because we deal with various state and federal government entities throughout the process, timelines for each stage may vary. As a result, we work hard to communicate any changes or updates in the timeline as we receive notices from both state and federal government entities.
Here are the steps and timeline:
- Incorporation: 3-7 business days (IMPORTANT NOTICE FOR DELAWARE: Due to high volume, it is currently taking Delaware's Division of Corporations 7-10 business days to process filings. We are monitoring this situation very closely and will update you as soon as we have news on your application).
- Documentation Preparation: 2-7 business days
- EIN: 20-30 business days if you do not have SSN/ITIN (1-2 business days with SSN/ITIN)
- Bank Account: 1-5 business days AFTER the application has been submitted to the bank account partner.
Please review this article for more details about each step of your onboarding process.