Stripe Atlas Account Progress

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

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

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

    Documents

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

    The documents included will depend on whether you are forming a C Corporation or a Limited Liability Company (LLC).

    Documents will include:

    • Certificate of Incorporation
    • Bylaws for your corporation
    • Board Approval of Organizational Resolutions
    • 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

    Documents will include:

    • Certificate of Formation
    • Operating Agreement
    • Confidential Information and Invention Assignment Agreements (CIIAA)
    • 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 match your actual, written signature from your photo ID as closely as possible, using your mouse, trackpad, touchscreen, or other pointing device to sign with your cursor. (This is a requirement from our banking partners.) See the DocuSign help site for details.

    Orrick, a leading law firm for tech companies, prepared the legal documents for forming companies through Atlas. Stripe Atlas entrepreneurs also have access to Orrick’s legal guides, which walk founders through key legal considerations for new startups.

    Bank account

    Stripe Atlas helps you open a USD-denominated business bank account for your new company. Your banking partner will depend on whether you form a C Corporation or a Limited Liability Company (LLC).

    Your bank account will be 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.

    Setup

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

    Your SVB account will be linked to your Stripe account, with payouts from Stripe automatically deposited there. Once your account is open, you can begin accepting live payments.

    Moving money

    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 payouts; it can be used for other corporate purposes, too.

    Debit card

    Stripe 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. If you opt in for debit cards when you complete the application, you will receive an email from SVB after you receive your EIN, with instructions on how to complete your debit card application.

    Fees

    Here is a listing of current SVB fees associated with your business bank account:

    • $25 per month for your business bank account (the fee is waived if you maintain a minimum average balance of $25,000 per month)
    • $12 per wire transfer within the U.S.
    • $25 for international transfers (in USD or non-U.S. currency)

    SVB will share details about your account’s complete fee schedule and functionality as you complete the documents to open your bank account.

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

    Stripe Atlas helps you open your business bank account through Azlo, a business banking platform built for digital entrepreneurs. Banking services are provided by Azlo’s partner bank, BBVA Compass. Your bank account will generally be opened a few days after you agree to Azlo’s Terms and Conditions.

    Setup

    During the application process, you’ll be prompted to select an administrator for your Azlo account. Once you sign your formation documents in DocuSign, we’ll email your bank account administrator with a link to agree to Azlo’s Terms and Conditions on their website.

    Azlo will review your application within two business days, and then open your bank account if it’s approved.

    Once the bank account is opened, Stripe will send your administrator an email that prompts them to log in to Azlo’s site, create a password, and enter a mobile phone number (to receive security codes).

    Your Azlo account will be linked to your Stripe account, with payouts from Stripe automatically deposited there. Once your account is open, you can begin accepting live payments. Once the IRS has issued your EIN, you’ll be able to send digital (bank-to-bank) transfers to other U.S. bank accounts.

    Funding your account

    You can move money into your new bank account by transferring it from another U.S. bank, depositing a check, or sending a domestic or international wire. Azlo’s FAQ has more details.

    Moving money

    With your Azlo account, you’ll be able to receive funds, deposit checks, send digital payments to other U.S. banks as needed, and get account reports. The Azlo account is not limited to just Stripe payouts; it can be used for other corporate purposes, too.

    Debit card

    Atlas users outside India will receive a debit card linked to their Azlo account. (Debit cards are not available to cardholders living in India, per Reserve Bank of India restrictions.) Your debit card will be sent to your business address. Once it arrives (typically within 10 business days after your Azlo account is approved), you can activate it right away through Azlo’s website or mobile app.

    Fees

    Your business bank account with Azlo currently has no maintenance fees and no minimum-balance requirement. Debit card transactions (including cash withdrawals) will be fee-free at ATMs within the AllPoint Network.

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

    Company formation

    Formation proceeds differently for a C Corporation versus an LLC.

    Incorporating a C Corporation

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

    We’ll email you with information about issuing stock to founders after your company is incorporated. New corporations can issue stock with standard terms, using our free tool, for up to 30 days after incorporation. If your company is a subsidiary of an existing company, or if you’d prefer to customize the terms, Stripe Atlas also provides templates from Orrick that you can customize with your lawyer.

    We strongly recommend working with a lawyer to decide whether and how to issue stock to your founders.

    Forming an LLC

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

    Ownership shares in an LLC are known as “units,” and are distributed to members (who may include founders) by contract in the Operating Agreement when you form the LLC using Stripe Atlas.

    Tax ID

    When your new company’s formation is complete, your company can be registered with the IRS to create a U.S. Federal Employer Identification Number (EIN). As part of forming the company using Stripe Atlas, you’ll complete form SS-4, which will be sent 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 might want to read:

    Questions?

    We're always happy to help with code or other questions you might have! Search our documentation, contact support, or connect with our sales team. You can also chat live with other developers in #stripe on freenode.

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