Almost every entrepreneur requires a current account to work. With its help, settlements with buyers or contractors are carried out, the means of the tax inspection are transferred, or other necessary payments are made to operate the business. Therefore, it often requires opening an account for an individual entrepreneur in a bank. Opening it is not considered to be a very complicated process, but it is important to choose the right banking institution wisely so that the service tariffs are optimal for the entrepreneur.
Where to open?
For an individual entrepreneur, having a checking account is not a necessary necessity, but without it, a modern businessman will face many difficulties. Therefore, entrepreneurs most often prefer immediately after registration to open an account for an individual entrepreneur in a bank. Opening an account does not take much time and does not require spending a lot of money on this process.
Often, businessmen are faced with such complexity as choosing the best bank for cooperation. There are many credit organizations working on the market, each of which offers its own conditions, but among all the offers, entrepreneurs want to choose the best bank for opening an account. An individual entrepreneur can independently decide where his money will be located.
Optimal to apply for this service in the organization:
- Tinkoff This organization offers free account opening. The cost of service varies from 499 to 4990 rubles, and the exact price depends on the selected tariff. The first three months of service are offered free of charge.
- Sberbank is considered the largest and most reliable institution. An account is opened on a free basis, and for its maintenance you will have to transfer the bank from 0 to 3100 rubles. The final cost depends on the selected services.
- "Alfa Bank". Opening an account for an individual entrepreneur in this bank has many advantages. For this process, you do not need to pay any funds, and the cost of maintenance is in the range from 490 to 9900 rubles. Each entrepreneur can choose many unique services that greatly simplify his work.
- VTB 24. They are offered several types of accounts, and for opening some, they will have to pay up to 1.5 thousand rubles. The cost of service varies from 1 to 11 thousand rubles.
Most often, novice entrepreneurs prefer to work with organizations offering the lowest cost of service. In any bank, opening an IP account is considered a simple process. To do this, just prepare the necessary documents and draw up an application.
When not needed?
Some entrepreneurs can work without difficulty without opening a current account. Based on Art. 11 of the Tax Code may carry out activities without it, and at the same time they will not be held liable for violations.
Often, businessmen work in an area where payments are made exclusively with cash, therefore, it is not necessary to make any payments through a current account. This usually applies to entrepreneurs working in the retail sector or providing household services. They usually work only with individuals who have the ability to pay for services in cash.
Pros of the procedure
Although it is not mandatory for entrepreneurs, its presence has many advantages for entrepreneurs. These include:
- if you choose the really best banks for opening an IP settlement account, you can count on low-cost services, and at the same time, the credit institution will offer many unique and significant additional services;
- if you plan to work with other companies that will transfer large amounts of funds, it is advisable to have a special bank account opened for the entrepreneur, since you can make payments in cash with other companies or citizens for a maximum amount of 10 thousand rubles. under one contract;
- some potential partners may intentionally refuse to cooperate with an entrepreneur who is willing to work exclusively with cash, since such payments are often regarded by the Federal Tax Service as a way to avoid paying taxes, therefore, such companies are often checked;
- if you use a regular account opened with an individual for settlements with the tax inspectorate, then the tax authorities will think that all proceeds to this account are income from entrepreneurial activity, so you will have to prove that certain funds were received from relatives or from other sources;
- if an individual entrepreneur uses OSNO or simplified tax system during operation, he will have to prove his expenses, and due to the lack of an account, it will actually be difficult to complete this process, so the tax burden on the entrepreneur may increase.
Therefore, it is advisable to open a bank account for an individual entrepreneur for numerous reasons. When concluding a contract with a banking institution, a businessman gets the opportunity not only to use cash management services, but also to use remote services. He receives a plastic card in his hands, with which you can withdraw cash.
Cons of the process
There are some disadvantages of opening an account.
These include the need to regularly visit a banking institution, as well as incur additional service costs.
How to choose a bank?
When choosing an institution where a current account will be opened, some recommendations of specialists should be taken into account. In this case, you can choose the really best bank for opening an IP bank account. Pay attention to some important criteria:
- tariffs set for cash management services;
- opening cost, as some banks still require the transfer of a certain amount of funds for this service;
- additional options offered by the institution, and the most significant for many entrepreneurs is the ability to remotely manage funds;
- the established limit for cash withdrawals is checked, and the commission that is charged for this process is also determined;
- it is taken into account whether the bank offers a deposit on the remaining funds, since often the interest accrued for such an investment exceeds the cost of servicing, therefore this option is considered beneficial for each entrepreneur.
The best banks for opening an IP account additionally offer round-the-clock support, so you can take advantage of the help of specialists at any time.
Simplified process
From September 2016, banks can use special simplified rules when opening an account for entrepreneurs. This is indicated in the provisions of the Federal Law No. 191. Therefore, businessmen are not required to prepare numerous documents. This is due to the fact that the bank can obtain a certificate of registration and registration of individual entrepreneurs directly with the tax office. In 2018, such rules are still valid.
Prior to the introduction of the changes, a large number of documents were required to open an account for an individual entrepreneur in a bank. Opening such an account took a long time due to the preparation of numerous documentation.
If an entrepreneur applies to a credit institution where he has already opened an account, which he uses as an individual, then to open an additional current account it will not even be necessary to come to the department of the organization. It is enough to make a special application on the Internet on the official website of the bank.
What documents will be required?
Although a simplified procedure is used, certain documents will still be required to open an IP account with a bank. These include the documentation:
- passport of a citizen;
- if the proxy of the entrepreneur is engaged in the procedure, then he must have a power of attorney certified in advance by a notary;
- USRIP record sheet in the form of No. Р60009 or certificate of registration of IP (issued before 2017);
- fresh extract from the USRIP;
- if a businessman works in a specific field of activity, then he must additionally transfer to the bank employees a license allowing him to work in this area.
If the activity is not subject to licensing, then it is enough to have a passport and an extract with you. Directly at the branch of the selected bank, an application is drawn up to open an account in the bank for individual entrepreneurs.
Do I need a signature card?
Often, employees of an institution require a special card containing signature samples of all persons who can sign banking documents on behalf of the entrepreneur. But this document is not required if you plan to make exclusively electronic payments.
As soon as all documents are transferred to the banking institution, an agreement will be formed, signed by both participants. The next day, a current account will be officially opened. Some banks even send a courier to work or home to a client with an agreement to sign it, so entrepreneurs may not come to the organization’s office at all.
Should government agencies be notified?
Relatively recently, each entrepreneur had a need to send notifications to the PF and the Federal Tax Service within 10 days after opening a current account. If this requirement was not met by businessmen, then they were brought to administrative responsibility.
But now there is no need to send such notifications. After opening a bank account for an individual entrepreneur, the banking organization itself must send information about its new client to the PF and the Federal Tax Service. The procedure is performed within three days from the moment of opening the account, which is indicated in Art. 86 Tax Code.
Process cost
Most credit organizations offer free account opening for individual entrepreneurs at a bank. Opening it is represented by a standard and quick procedure. Some banks still charge customers for such a service, which varies from 500 to 2500 rubles.
Tariffs for service can vary significantly between institutions. This is due to what kind of services are offered under such tariffs. Most often, entrepreneurs are interested in the ability to use remote money management or the use of a basic set of cash settlement services.
How to close?
Often, entrepreneurial activity does not bring enough profit. Under such conditions, it is required to close the IP, which leads to the closure of the current account. Also, often businessmen prefer to change banks, focusing on more favorable conditions for cooperation. Therefore, you should understand how the current account closes.
To complete this process, it is enough to write a corresponding application to the bank. The remaining funds will be transferred to other details left in the application. It is not required for the entrepreneur to independently contact the Federal Tax Service and the Pension Fund for notification of account closure, since the process is carried out directly by the banking institution.
When can they refuse?
Typically, banks have a positive attitude towards customers who want to open an account.This means that the bank will receive a certain profit from cooperation. But there are certain situations in which even an entrepreneur who wants to open a current account is refused. This is usually due to the following reasons:
- an incomplete set of documents is handed over to the bank employee;
- false information is provided that is identified by the organization’s security service specialists;
- the entrepreneur is the debtor of the institution, which can not cope with the credit load.
If the problem is only in the absence of the necessary documents, then they only need to be conveyed so that the account is open.
Conclusion
Individual entrepreneurs can work without using a current account, but opening it has many undeniable advantages for businessmen. Therefore, it is important to carry out this process immediately after registering a business. It is important to choose the banking institution that offers truly favorable conditions for cooperation.
To open an account, you just need to have a passport and a license with you if the chosen area of work is licensed. You should focus on banks offering the lowest prices for services. Additionally, other services offered simplify the work of the entrepreneur.