How to open a settlement account of an IP?

Individual entrepreneurs are not required toopen a settlement account, they can be limited to simple cash settlements with customers or suppliers. But this does not satisfy everyone, because it is much more convenient to transfer funds by bank transfer if the businessman is already used to it.

What is the settlement account of an individual entrepreneur?

The settlement account of an IP is an account opened by the bank for the storage and execution of settlement operations with funds at the request of the individual entrepreneur, ie the account holder.

Do I need a current account as an IP?

So, as you understand, PI does not have to open a settlement account. You will need it if:

• you have plans to carry out non-cash payments: accept them or pay to legal entities and other IP;
• you plan to conduct settlement operations withlegal entities and other IP in the amount exceeding more than 100,000 rubles under one contract. One-time cash payment of more than 100,000 rubles is impossible in this situation.

How and where to open a settlement account of an individual entrepreneur

First, let's think about where to open a settlement accountIP. Most banks (for example, Sberbank, VTB 24 and others) have their own website, where you will find exactly the proposals for opening a settlement account for a PI. There it will be clearly stated how to open a settlement account of an IP in Sberbank, for example. Carefully study when choosing a bank:

• monthly maintenance fee;
• cost of commission for payments made;
• the cost of the commission for withdrawal and deposit of money into the account;
• conditions and fees for remote work with the bank through the system "bank-client" and "Internet Banking".

When you choose a bank, they will explain to you in detail how to open a settlement account with them. And usually the following documents are required from an individual entrepreneur:

1. INN, and notarized. This is a document on registration with the tax inspectorate.
2. Certificate of registration of an IP, also notarized.
3. Copy of your passport.
4. If the activity you are doing is licensed, you will need to provide a license.
5. A copy of the extract from the EGRIP, but it should not be older than 1 month.
6. Copy of the notification of the territorial body of the Federal State Statistics Service.

We warn you, do not think that to open a settlementPI account is very fast. In the bank you have to fill out various applications, cards and so on. In addition, you will be required to notify the tax office of the opening of the settlement account of the IP within 5 days from the date of opening the account. This moment is very important, because the late fees are pretty high! Notification to the tax authority is in form No. C-09-1.