Stripe Atlas Account Progress

    Learn what happens after you submit your Stripe Atlas application: the steps Stripe takes and what information and emails you should receive when. If you have any questions after reading this, contact us at atlas@stripe.com.

    Once you submit your Stripe Atlas application, we move to the onboarding phase, progressing through the creation of:

    • Legal documents
    • A bank account
    • An incorporated company
    • Your corporate tax ID

    Well send you emails as steps are completed. You can also track the progress in the Dashboard.

    Documents

    After you submit the application and we create your Stripe account, we’ll generate the legal documents to start your corporation. You’ll normally receive these within one business day of submitting your application (assuming we can support your business).

    These documents include:

    • Several for incorporating your company:
      • Certificate of Incorporation
      • Bylaws for your corporation
      • Board Approval of Organizational Resolutions
    • A Bank Deposit Agreement and Online Banking Enrollment with Silicon Valley Bank, for opening a bank account
    • IRS form SS-4, to request an EIN for tax-reporting purposes

    We strongly recommend working with a lawyer and tax advisor to review these documents. There is no rush in returning them to us, so review them carefully.

    The documents must be electronically signed by every company representative. You’ll need to sign the documents using your cursor, as closely matching your actual, written signature as possible (this is a requirement by our banking partners). See the DocuSign help for more.

    Once your company is incorporated, we’ll provide annotated templates of documents that can be customized for your company’ s next steps (including issuing stock to your founders or your parent corporation) including:

    • Stock Purchase Agreement
    • Board Approval of Stock Purchase Agreements
    • Bylaw Certification
    • 83(b) Election Form

    Orrick, a leading law firm for tech companies, prepared the legal documents for incorporating companies through Atlas and the annotated templates. Atlas entrepreneurs also have access to Orrick’s legal guide, which walks through key legal considerations for new startups.

    Bank account

    Atlas helps you open a USD-denominated business bank account for your new company at Silicon Valley Bank (SVB), the leading bank for technology companies. Your bank account will be opened shortly after your company representatives sign the documents.

    During the application process, you’ll be prompted to select administrators for your SVB account. Once the bank account is opened, the administrators will be sent a temporary password to log in online. You can find the login user ID in your Banking Enrollment Form in the Stripe Dashboard.

    Your SVB account will be linked to your Stripe account, with transfers from Stripe automatically deposited there. At this point, you can begin accepting live payments.

    With your SVB account, you’ll be able to deposit funds, send transfers to other banks as needed, and get account reports. The SVB account is not limited to just Stripe transfers; it can be used for other corporate purposes, too.

    Atlas users are also eligible to receive a debit card linked to their SVB account. However, debit cards are not available to cardholders living in India, per Reserve Bank of India restrictions.

    Your business bank account with SVB will cost $25 per month. This fee is waived if you maintain a minimum average balance of $25,000 per month. SVB will share details about your account’s complete fee schedule and functionality as you complete the documents to open your bank account.

    You can request wire transfers from your SVB account to another U.S. or international bank account. International wires are available once you receive your EIN number.

    For additional details, see SVB’s FAQ for Stripe.

    Incorporation

    Registering your corporation in Delaware generally takes a couple of business days. Once your company is incorporated, you’ll receive your Certificate of Incorporation via email. Note, the original is in electronic format; no hard copies are created.

    Once your company is incorporated, we’ll share annotated templates of documents prepared by Orrick that can be customized for your company’ s next steps (including issuing stock to your founders or parent corporation). The specific templates provided will depend upon whether the company you incorporated through Atlas is a new company or a subsidiary of an existing company.

    Whether you use the provided templates or not, we strongly recommend working with a lawyer to decide whether to issue stock to your founders and to customize any templates you choose to use. If you don’t already have an attorney, we’re working with UpCounsel, a network of startup attorneys, to connect you with lawyers who can provide a short free consultation and flat rate packages for Atlas users to customize these templates to issue stock to founders or a parent company.

    Tax ID

    When your incorporation is complete, your new company can be registered with the IRS to create a U.S. Federal Employer Identification Number (EIN). We’ll automatically send form SS-4 to the IRS to request an EIN for your new company.

    It usually takes up to 2 weeks to receive your EIN via email; 6-8 weeks (or longer!) to receive it via physical mail. Once you have the EIN itself, you are able to file and pay federal U.S. taxes.

    Next steps

    Now that you know more about the onboarding process, you may want to read: