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ITIN Guide 2026

ITIN for Canadians: How to Open a US Business Bank Account Remotely

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Canadians frequently need US dollar bank accounts for Amazon, Stripe, US client payments, and investment purposes. Opening a US business bank account as a Canadian requires a US LLC with proper Tax IDs (ITIN for the owner, EIN for the business). This guide explains the complete path.

Why Canadians Need US Bank Accounts

Common reasons Canadians open US bank accounts:

While Canadian banks offer USD accounts, US bank accounts have advantages: direct ACH compatibility, no foreign currency fees, and seamless integration with US payment processors.

Personal vs Business US Bank Accounts

Personal US bank account: Requires a US Social Security Number (SSN) — not available to Canadians without US residency/visa. Alternative: some Canadian banks (TD, Scotiabank, RBC) offer US dollar accounts that accept USD transfers.

Business US bank account: Accessible through a US LLC with an EIN. Mercury and Relay Bank specifically support foreign-owned US LLCs. Your ITIN identifies you as the Canadian owner, while the LLC's EIN is the business Tax ID.

Mercury Bank for Canadians

Mercury Bank is the most popular US bank for Canadian entrepreneurs with US LLCs. It offers remote account opening, no minimum balance, free ACH transfers, and seamless Stripe integration. To open Mercury, you need LLC formation documents, EIN, and your passport. Your ITIN links you to the LLC for IRS compliance purposes.

ITIN Plus for Canadian Business Banking

Your ITIN is the foundation of your US business infrastructure. Apply through ITIN Plus for $99, 8–14 weeks. IRS Certified Acceptance Agent. Email apply@itinplus.com.

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Frequently Asked Questions

Can Canadians open a US bank account?
Personal US bank accounts require a US SSN, which most Canadians don't have. However, Canadians can open US business bank accounts (Mercury, Relay) through a US LLC with an EIN. Your ITIN is needed for LLC tax compliance.
Do I need an ITIN or EIN to open Mercury Bank?
Mercury requires an EIN for the LLC. Your personal ITIN is needed for IRS compliance as the Canadian LLC owner (Form 5472), but Mercury's account opening form uses the LLC's EIN as the business Tax ID.
Is Mercury Bank safe for Canadian entrepreneurs?
Yes. Mercury Bank is FDIC-insured (up to $250,000) and has thousands of Canadian entrepreneurs using it for US business banking. It is a legitimate, licensed US bank.
How long does it take to get an ITIN?
8–14 weeks from the IRS submission date. Apply through ITIN Plus for $99.
Can I receive Canadian dollars in a Mercury account?
Mercury is a USD-denominated account. It receives US dollars via ACH and wire. For CAD receipts, use your Canadian bank. Many Canadians use both — Mercury for USD income and their Canadian bank for CAD income.