Why Delaware (and when you do not need it)
Delaware offers stable corporate law, a specialised court (Court of Chancery) and an LLC that requires neither an operating office nor activity in the state. It is not mandatory, though: if you only operate in Florida you can form there directly (see the guide on US dollar accounts). Delaware makes sense for holdings, e-commerce, digital services, international trade and multi-member structures.
- LLC with one or more members, even all foreign
- Member names not published in the Certificate of Formation
- No obligation to have an office or employees in Delaware
- If the company operates on a stable basis in another state (for example Florida) it must also register there as a "foreign LLC"
Formation: what it takes and what the state charges
The LLC is created by filing the Certificate of Formation with the Division of Corporations, through a registered agent with a Delaware address. In 2026 the state raised its charges: under House Bill 400, signed on 21 May 2026, the LLC annual tax rises from 300 to 400 dollars from tax year 2026 (the first 400 USD payment is due on 1 June 2027), and filing fees were revised from 1 August 2026.
- Certificate of Formation: state fee to be checked against the schedule in force since 1 August 2026 (previously 110 USD)
- LLC annual tax: 400 USD from tax year 2026 (previously 300), due 1 June; no annual report to file
- Registered agent: the provider's annual fee, agreed in advance
- Operating Agreement: not filed, but the bank asks for it
The EIN: the step that unlocks the account
The EIN is the company's federal tax ID, issued by the IRS. Without an EIN no bank opens an account. A foreign member without a Social Security number applies with Form SS-4 by fax or phone: timelines vary and must be scheduled before the bank application. FINTECH applies on the client's behalf.
- Form SS-4 with a foreign responsible party: no SSN or ITIN needed for the company
- IRS timelines for applications from abroad vary: to be checked at the time
- The name on the EIN must match the Delaware register exactly
- The EIN is also needed for payment processors and marketplaces
Beneficial owners: what changed in 2026
Since 14 August 2026, FinCEN's final rule permanently exempts companies formed in the United States from beneficial ownership information (BOI) reporting under the Corporate Transparency Act. Only foreign companies registered to do business in the US remain subject to it, for their non-US owners. The bank, however, still collects the identity of beneficial owners for its own checks.
- Delaware LLC: no BOI report to FinCEN (final rule of 11/08/2026, effective 14/08/2026)
- Foreign companies registered in the US: obligation still in force for non-US owners
- The bank asks for the passport and stake of every owner with 25% or more and of whoever exercises control
- Some states have their own registers: New York from 2026 for LLCs operating there; FINTECH checks case by case
The bank account: two routes
The first is a traditional bank: an account with a routing number, ACH, cards and merchant services; it almost always asks for an in-person meeting with a company representative, which FINTECH arranges in Miami or New York. The second is a payment platform or digital bank that opens online for US companies with foreign members: faster, but with limits on eligible countries, balances and services. The choice depends on the flows, not on convenience.
- Traditional bank: physical presence often required, full access to US rails
- Online platform: remote opening, exclusions by sector and by members' country of residence
- In both cases: EIN, Certificate of Formation, Operating Agreement, passports, the company's US address, a description of the business
- Consistent documents: a mismatch in name or address stalls the application
Annual filings and tax: do not underestimate them
A single-member LLC owned by a foreigner is disregarded for federal purposes, but must file Form 5472 with a pro forma Form 1120 every year: the penalty for failing to file is high. Actual taxation depends on where the business is carried out and on the member's residence. FINTECH coordinates US and home-country tax matters through appointed professionals.
- Delaware annual tax by 1 June
- Form 5472 and pro forma 1120 for the foreign-owned single-member LLC
- Registration in other states if the business is carried out there
- For residents of Italy: reporting of the holding and the foreign account (quadro RW)
Quick comparison of the routes
Conditions vary by institution: this table orients the decision and does not replace the bank's contractual terms.
| Route | When it fits | What to check |
|---|---|---|
| Delaware LLC + traditional bank (Miami or New York) | Operating business, US clients, card collections | In-person meeting, accepted sector, minimum balance |
| Delaware LLC + online platform | Fast start, digital flows, modest balances | Members' country of residence accepted, operating limits |
| Florida LLC + bank (see the US account guide) | Business concentrated in Florida | No double registration |
Key takeaways
- A Delaware LLC is formed in a few days through a registered agent; the bank account is a separate process that requires an EIN and consistent documents.
- From 2026 the LLC annual tax is 400 USD (due 1 June) and filing fees have been revised (House Bill 400).
- US companies no longer file BOI reports with FinCEN (final rule effective 14/08/2026); the bank still collects beneficial owners.
- Tax filings (Form 5472, home-country reporting) must be planned before opening.
Frequently asked questions
- Do I have to come to the United States to open the account?
- With a traditional bank often yes, once: FINTECH arranges the appointment in Miami or New York and prepares the file in advance. Online platforms do not require it, but have limits on countries, balances and services.
- How long does it take overall?
- Formation in a few business days; EIN with variable IRS timelines for foreign applicants; account opening in a few weeks with a complete file. Exact timelines are confirmed case by case.
- Is an account in the name of a Delaware LLC an "offshore" account?
- No. It is a US bank account in the name of a US company, subject to US rules and to reporting in the member's country of residence.
- Can I use the registered agent's address as the company address for the bank?
- Usually not: the bank asks for an operating address. FINTECH assesses the right solution with the client (premises, office, domiciliation).
- What does FINTECH SCB actually do?
- It forms the LLC with the registered agent, drafts the Operating Agreement, applies for the EIN, prepares the bank file, accompanies the opening at the selected bank and coordinates annual filings with appointed professionals.
For corporate structures and accounts in the US, see our dedicated page: US services