Not a problem I was aware of until I read the Enjoy Every Sandwich blog's Proving We're Not Terrorists - Day 6. (I assume that is a Warren Zevon reference in the blog's name and if so, it is a great one especially if you read the rest of the blog.)
We only wanted to open a simple business checking account. Stop in at the bank, transfer some funds from one account to this new account. Sign a couple papers. There 'ya go.That I never counsel clients to start a business except as a corporation or a limited liability company may explain why I have never heard of this problem. If anyone else has similar experiences, please use the comment function below to let us know about them.
There we went, right out the front door, told that we have to prove that we're really a business and not terrorists trying to launder money around the world.
"How do we prove we're really a business? Well the bank wasn't very good at understanding that part of it. This morning we're going to stop in again and we're bringing everything: state sales tax license; a letter from the borough and the local tax collector; business cards and stationary; an invitation to visit our Web site; driver's license; social security card; and my Goofy Goober Ice Cream Club membership card just to make sure."
As I wrote above, every business owner needs to protect themselves from liability. A husband and wife business needs protection even more than most.
Remember that if you are starting a business in Indiana, you should give me a call.