Open a Business Bank Account for Your Connecticut LLC

Separate your personal and business finances immediately after formation. This preserves liability protection and simplifies taxes. For all compliance, see after-formation. For formation, see our LLC guide.

What CT Banks Require

• Certificate of Organization (filed copy from CONCORD)
• EIN confirmation
• Operating agreement (some banks)
• Photo ID for signing member

Connecticut Banking Options

• Webster Bank — CT-headquartered, strong business banking
• M&T Bank (formerly People's United) — extensive CT presence
• Liberty Bank — Connecticut's largest mutual bank
• Thomaston Savings Bank — CT community bank
• Chelsea Groton Bank — Eastern CT
• TD Bank — major regional with CT locations
• Bank of America / Chase / Wells Fargo — national presence

Tips

1. Open immediately after formation
2. Never use personal accounts for business
3. Set aside estimated tax payments (CT rates reach 6.99%)
4. Set aside collected sales tax (6.35%) — it belongs to the state
5. Connecticut's higher tax rates make cash management critical

FAQ

Do I need a CT-based bank?

No. Any bank that offers business accounts works. But CT-based banks (Webster, Liberty, M&T) are familiar with Connecticut LLC requirements and make setup smoother.