Funding LLC Starting Out

[Arron Paulino]

This seems like a very newbie question. How do you begin funding an LLC? Do I go into my local bank and let them know that I am looking to open a business checking and/or savings account under my LLC? Once in, do I need to bring a cashier's check or the like to deposit into the account as seed capital? What documentation do I need to bring to open? I am currently under contract on a house through my LLC and need to pay an assignment fee in a couple of weeks ($10k) at closing. I have it ready to go from my personal bank account to transfer.

I'm used to purchasing property under my name, but now this will be my first in an LLC, and want to make sure I am starting correctly.

[Greg Scott]

Just bring your organizational documents, including EIN into the bank to open an account.  You can fund the account just like you would any account, cash, check, wire, ACH, etc.

Probably more important is maintaining good accounting. Any money you put in or take out needs to be correctly tracked, otherwise you have co-mingled funds, and a good attorney could have your LLC thrown out.