Do I need an account for an individual entrepreneur? Question: Should an individual entrepreneur have a current account? Why should an individual entrepreneur open a current account?

Starting your financial activities, an individual entrepreneur has the right to open a current account in any chosen bank. According to the law, such an action is not mandatory.

But those businessmen who decide to neglect this right may, in the process of business activity, be faced with the question of how to make payments to a partner without violating cash discipline. In such a situation, having a current account may become a necessity.

How necessary for 2019

It should be immediately noted that in 2019, the procedure for opening a current account by an individual entrepreneur remained the same. An individual entrepreneur can enter into an agreement on a voluntary basis or in case of urgent need.

A current account performs an important economic function. It helps to separate personal money from financial resources received as a result of business activities.

In addition, documented receipt of revenue facilitates reporting and simplifies control over the fulfillment of contractual obligations.

Availability of bank details serves additional guarantee when concluding contractual relations with business partners. Cash turnover, which is reflected in the bank statement, can confirm the solvency of a businessman when receiving borrowed funds. The bank is most willing to issue loans to clients who have stable financial activity.

The need for a mandatory opening of a current account with an entrepreneur will arise only if settlements between counterparties under one agreement exceed the limited amount of 100 thousand rubles. Also, when paying for a large consignment of goods, large wholesalers prefer exclusively non-cash payments.

Due to the fact that plastic cards are often used when working with customers in retail trade, the need to open a current account is only growing every year.

Is it possible to use a personal account when doing business?

In business practice, many individual entrepreneurs use a personal bank account to store funds. This involves getting some economic benefit:

The fee for servicing an account opened for an individual is significantly lower.
Restrictions on cash withdrawals are not as strict as when conducting transactions on a current account.

From the point of view of a bank client, in other respects these accounts are not much different from each other. It is also possible to credit funds from third parties to your personal account.

An entrepreneur has the right to pay tax payments and settle accounts with suppliers. In addition, for the convenience of clients, banks issue plastic cards for accounts, with which you can make remote payments through the bank-client system.

Some entrepreneurs use a deposit account in their commercial activities. But this is not always convenient, since this type of money storage has many restrictions and additional commissions when paying with third parties.

What are the risks of using a current account?

In accordance with the regulations of the Central Bank, current accounts and deposits of individuals can only be used to accumulate funds not related to commercial activities. For business, banks must open current accounts. But, despite this, there are no penalties for using the account for other purposes on the part of the financial institution.

Some banks, in order to provide additional control over the flow of funds, ask to indicate in payment documents a phrase stating that the transfer is not related to commercial activities, but such actions are illegal.

In turn, entrepreneurs are not always honest with the bank and when settling with a counterparty they do not disclose the real basis for the payment.

This behavior threatens IP some risks:

Firstly, a financial organization may delay the transfer of money if the counterparty indicated in the line the recipient “IP Petrov P.P.”, and not just “Petrov P.P.” The bank justifies this delay by saying that the name of the recipient does not match the owner of the current account and it is impossible to identify the payment.
Secondly, use may cause confusion among buyers, especially if the entrepreneur asks not to indicate individual entrepreneurs as recipients. It is quite possible that document flow prepared in this way will arouse interest among inspection authorities. Cash receipts in the name of an individual may be mistakenly accepted as the taxable base for income tax, as a result of which the tax office will charge fines and penalties, and the funds will recalculate contributions.
Thirdly, if a situation arises when an entrepreneur needs to return erroneously transferred payments from the budget or fund, then this can hardly be done to the current account.

If the bank detects violations when using a personal account, the financial institution may terminate the agreement and close the account. Many banks warn their clients in advance in writing that it is prohibited to carry out transactions related to commercial activities on the current account.

When starting to choose a financial institution, you need to familiarize yourself with the reliability rating. This is especially true during periods of economic instability in the country, when banks’ licenses are often revoked.

It is also very important how long it takes the client to get to the bank branch. In this regard, it is necessary to select a financial institution based on territoriality.

An important fact is cost of cash management services, debited monthly from the account balance. Its size has a fixed rate, which can increase depending on the number of payment documents processed. The bank will also withdraw money for opening an account.

If the client is going to use the services of a client bank, then you should find out the prices for this service in advance. Some institutions set low rates to attract customers, which miraculously increase after a few months.

In order to optimize payments, an individual entrepreneur should be interested in the timing of money transfers. Reliable banks try to make transfers within 24 hours. This is especially true when taxes are transferred.

You need to choose a bank extremely carefully, since this institution financial safety of funds depends. When choosing, you can use the advice of friends and customer reviews.

More information about the need for a current account can be found in this video.

What documents will be required

Despite the fact that the packages of documents in all banks are different, there is a basic list that must be provided when opening a current account:

passport of an individual entrepreneur;
certificate of registration with the tax authority;

In addition to the above, the bank will ask you to fill out an application for opening an account, a detailed client questionnaire, a card with the right to sign and a cash settlement service agreement. If all the documents provided are in order, this procedure will not take much time.

The documents that the bank requests to open an account must be original. If necessary, the financial institution itself makes copies and certifies them. It is worth noting that some papers have a limited validity period. For example, an extract from the Unified State Register of Individual Entrepreneurs remains valid for 30 days. After this period, you will have to order a new document.

When signing the contract, you should carefully read all the clauses and familiarize yourself with the established prices. If in doubt, you should seek legal advice.

Some banks may ask an individual entrepreneur to put his stamp on it. Guided by the fact that an individual entrepreneur can conduct business without an official stamp, many entrepreneurs confirm contractual relations only with a personal signature.

Pros and cons of use in activities

From the point of view of economic feasibility, a current account can have either positive, so negative characteristics. After a thorough analysis of the benefits and costs, each entrepreneur individually decides whether he needs a current account or not.

The main advantages can be summarized as follows:

TO cons may include additional costs for cash management services, the need to visit a credit institution for collection and obtaining a statement. Also, if you have a current account, you must observe a certain discipline related to the storage of cash.

Obviously, there are many more advantages in this matter, therefore, in order to build civilized financial activity, it would be more expedient to open a current account and entrust the bank with control over money transfers.

How does an individual entrepreneur work without a current account? Details in the video.

A bank account is no longer an indicator of the owner’s wealth, but simply a convenient payment tool. Almost every second person now has a payment plastic card, and a bank account is linked to it, in turn. Does an individual entrepreneur need a current account or does he have the right to make payments through a personal one?

The question is far from idle. If the account is intended for private purposes, the bank charges interest on this money, and the client has to pay for transactions on the current account. Of course, I wouldn’t want to incur additional expenses. In this article we will answer frequently asked questions from our users:

Is it possible for an individual entrepreneur to work without opening a bank account;
does an entrepreneur have the right to indicate his personal account for business payments;
Is an individual entrepreneur required to open a current account specifically for business purposes;
what are the possible consequences if you do not open a current account, but make business payments through a personal one;
Is it necessary to pay taxes and insurance premiums by bank transfer?

Why open a current account

Can an individual entrepreneur operate without a current account? Yes, if you comply with the cash payment limit (no more than 100 thousand rubles) within the framework of one agreement with another entrepreneur or legal entity. When making payments to employees and ordinary individuals, no limit is established by law.

For example, an entrepreneur rented an office from a commercial organization. The monthly rent is 10 thousand rubles, the lease term is 11 months, which means the total amount under the contract is 110 thousand rubles. This exceeds the possible limit, so payments must go through the bank.

Important: legal entities will have to open a bank account in any case. The reason is that the organization has the right to transfer taxes only by bank transfer. There is no such requirement for individual entrepreneurs; an individual can pay the budget either in cash or by payment order.

In principle, if the limit for cash payments with other entrepreneurs and organizations is met, then you don’t have to open a bank account. The question is: how convenient is it? You can pay your partner in cash at his accounting department or at the bank using a receipt. If the individual entrepreneur does not open a current account, then he will have to waste time on travel and queues.

In addition, when conducting cash transactions, you must follow the rules, which, although they allow for a simplified procedure for individual entrepreneurs, are quite contradictory. Finally, there is the problem of the security of cash payments and the safety of money. It turns out that although a current account is not required for an individual entrepreneur, in practice it turns out that it is difficult to do without bank payments.

Are you planning to open your own business? Don't forget to reserve your current account. To select a current account, try our bank tariff calculator:

The calculator will select the most advantageous bank offer for settlement and cash services for your business. Enter the volume of transactions you plan to make per month, and the calculator will show the tariffs of banks with suitable conditions.

What are the consequences if you use a personal account in business?

Can an individual entrepreneur use his personal account in business? Until 2014, Article 23 of the Tax Code of the Russian Federation contained a clause that directly prohibited the use of an individual’s current account for business activities. Now this provision of the Tax Code has lost force, but in fact the ban continues to apply, and an individual entrepreneur cannot use a personal account in a business. Why?

Central Bank Instruction No. 153-I, which is in force in 2019, prohibits transactions related to business or private practice on current accounts. The bank may simply refuse to carry out transactions if it considers that constant cash receipts are related to business activities.
If you receive large sums of money as an ordinary individual, and not as an individual entrepreneur, then be prepared for questions from the bank’s security service about the source of these funds. As part of the fight against terrorist financing and money laundering, the bank has the right to stop suspicious transactions.
Your business partners may refuse to transfer payment to an individual’s current bank account. The reason is that the Federal Tax Service in such cases considers them tax agents and obliges them to withhold 13% income tax from the transferred amounts and transfer the tax to the budget.
The basis for non-cash payments for your counterparties is the agreement concluded with the entrepreneur. If you transfer amounts under such an agreement to a current account, and not to a current account for an individual entrepreneur, then the costs of the transaction will be difficult to justify to the tax authorities.
Tax authorities will try to tax not only income received into a personal account from a business, but also other personal funds of an individual not related to entrepreneurship.
In the OSNO, simplified taxation system Income minus expenses, unified agricultural tax modes, an individual entrepreneur must confirm the costs associated with the business. When paying expenses from an individual's current account, the tax office will not accept them to reduce the tax base. As a result, you will have to part with a larger amount when paying taxes.

Let's summarize. The answer to the main question of the article: “Is it possible for an individual entrepreneur to work without opening a current account” is positive. But whether an individual entrepreneur needs a current account, decide for yourself. By making only cash payments or using an individual’s personal account, you limit yourself in many ways:

you cannot make online payments at any time and place where there is Internet access;
do not allow your customers and clients to pay by card or payment order;
you risk being suspected by the bank of laundering illegal proceeds;
you are subject to additional taxation of income not related to business;
narrow the circle of business partners, most of whom work by bank transfer;
bear the risks associated with storing cash.

But the price of the issue is not so high. The monthly payment for account maintenance and online banking will be a little more than 1000 rubles, depending on the chosen tariff.

Obtaining individual entrepreneur status by a citizen or the process of creating a new legal entity usually ends with the procedure of opening a bank account. Each credit institution has its own requirements regarding the composition of documents and compliance with the conditions required for opening a bank account.

The right approach to choosing a financial institution for banking services gives confidence that all non-cash payments will be made on time, and the bank will be loyal to its client.

Criteria for selecting a banking institution for opening an account

The number of officially registered Russian banks is approaching 800. But only about 650 of them can conduct financial activities - the rest of the credit organizations are deprived of a banking license. Considering the fact that about 100 banks a year remain without permission from the Central Bank, the first factor that you should pay attention to is the reliability of the financial institution.

You can check whether a bank has a license on the official website of the Central Bank, and a reputation proven over the years can become additional confirmation of the bank’s reliability. Among other criteria that it is advisable to pay attention to when choosing a partner bank are the following:

speed of payments, quality and ease of service;
the possibility of remote control of a current account, the availability of Internet banking;
the cost of service at the bank, the amount of fees for making non-cash payments and for maintaining an account;
availability of additional options beneficial to the client - free installation of a payment terminal, the ability to issue a corporate bank card, issuance of “salary” cards for company employees;
preferential terms if lending is necessary.

Note: If the bank offers significantly reduced rates for basic services, then the catch may lie in charging fees for certain services that are usually provided free of charge (for example,).

After comparing all available information on the selected banks, you can make the final decision on opening a current account.

What documents are required to open an account?

The package of documents requested when applying to open an account may differ in different financial institutions. For legal entities and individual entrepreneurs, different criteria apply in the formation of a set of documents.

Current account for LLC

Opening a bank account by organizations (LLC), in general, is possible if they have a basic list of documents:

certificates issued by the Federal Tax Service - on registration (OGRN) and on the LLC being registered with the territorial tax authority (TIN/KPP);
current version of the Charter (with registered changes);
sheet of Extract from the Unified State Register of Legal Entities received upon registration;
protocol (or decision) on the formation of a legal entity (indicating the head of the LLC), constituent agreement;
Rosstat codes;
manager's passport and;
permits and licenses - if available;
confirmation of the location of the organization (lease agreement, certificate of ownership).

All papers are presented to the bank in the form of originals and copies. Large banks usually do not require notarization of copied copies, since they certify them themselves.

You should know: If the bank makes copies of the constituent documents on its own, then the future client will most often have to pay for this service. In order to save money, it is advisable to provide your own electronic and paper copies of all provided originals.

An application for opening an account and a card containing a sample signature of the director and a copy of the organization’s round seal can be filled out from the bank manager. The card provides examples of original signatures of the director and accountant. If the company does not have an accountant on staff, a record of this must be noted on the card and endorsed with a seal and signature.

At the bank office, a current account agreement and a remote service agreement are also filled out and signed.

Composition of documents for individual entrepreneurs

An individual entrepreneur who wants to register a current account will need a slightly smaller package of documents. It includes:

a certificate issued by the tax office certifying the registration of an individual entrepreneur;
extract (or sheet) from the Unified State Register of Individual Entrepreneurs;
confirmation from the Federal Tax Service on tax accounting;
Rosstat codes;
passport/identity card of a citizen-individual entrepreneur.

An application for opening an account and a card with a signature template can be filled out at the bank. If an entrepreneur works with a round seal, then its imprint is placed on the card. The location () of an individual entrepreneur is confirmed either by the fact of registration using a passport, or by a document on ownership/lease agreement for the premises intended for work.

Keep in mind: The number of current accounts opened in banks is not regulated by law. A company or individual entrepreneur may have several accounts in different banks and currencies.

Is it necessary to use a bank account?

Current Russian legal norms do not contain clauses obliging organizations or individual entrepreneurs to open bank accounts. However, the following arguments support the feasibility of this event:

Firms or individual entrepreneurs that do not have a bank account are very limited in their choice of business partners. The Civil Code (Article 861 clause 2) contains a requirement to make payments between counterparties (LLC-LLC, LLC-IP, IP-IP) only using a bank transfer through a current account;
Cash payments have a limit of 100 thousand rubles for each agreement. Violation of this rule is fraught with financial sanctions. In addition, for cash payments it is mandatory to use a cash register;
Legal entities are required to pay all tax fees on time, and payment is allowed only using a current account.

Important! Fines for not using a cash register (if it is necessary to use it) when making payments between counterparties range from 1,500-2,000 rubles for individual entrepreneurs to 30,000-40,000 rubles for legal entities. The manager is subject to a fine of 3,000-4,000 rubles.

Possibility of working as an individual entrepreneur without an account

Entrepreneurs whose business is at an early stage or does not have large turnover sometimes prefer to do without a bank account. The reason for this, most often, is the desire to save on fees for maintenance and account maintenance for small amounts of non-cash transactions. There are several options for working as an individual entrepreneur without opening a bank account.

Payments are made in cash

If the activities of an individual entrepreneur are related to the provision of services to the public or small retail trade, then there is no need to open a bank account. Such activities are classified as UTII, and installation of a cash register is not required. Confirmation of receipt of cash proceeds is made by a BSO receipt or other documents (tickets, tour packages, subscriptions).

Non-cash payments are made from a private individual account

Entrepreneurs who have their own bank account, opened in the name of an individual, sometimes make payments to sellers using it. This practice is quite common, although it is not permitted by law. The Central Bank's regulations do not contain any official ban on the use of an individual entrepreneur's personal account in business activities, nor financial or other sanctions.

However, the tax office may make claims regarding cash receipts not related to business on the personal account/card of an individual entrepreneur. In addition, if violations of tax laws are detected, all fines and penalties will be written off from the individual entrepreneur’s personal account.

The current account has been opened. What's next?

After signing the agreement on banking services and the agreement on Internet banking, the client receives a tear-off coupon, which indicates the current account number and the date of its opening. Until May 2014, organizations were required to inform regulatory authorities (Federal Tax Service, Pension Fund, Social Insurance Fund) about the fact of opening a bank account and, in case of failure to comply with this requirement, were subject to a fine. Now this obligation has been abolished at the legislative level.

Can a bank refuse to open an account?

Theoretically, banking services are guaranteed to business entities under Article 846 of the Civil Code of the Russian Federation. In practice, banks may refuse to open a current account for an organization or individual entrepreneur on the following grounds:

the verification does not confirm the location of the future client;
providing the bank with distorted information regarding the legal address;
the bank has suspicions that the company is involved in illegal activities.

As a rule, they are not made public. At the same time, the potential client always has the opportunity to contact another financial institution.

The development of entrepreneurship is gaining momentum every day, and therefore the question of whether an individual entrepreneur is required to have a current account is very relevant.

It is known that an individual entrepreneur is the action of a sole manager, both in terms of conducting business and making a profit, and in terms of solving the most pressing problems and responsibility for mistakes. In addition, you will have to answer not only with the statutory funds spent on opening the business, but also with the available property (movable, immovable).

That is why an entrepreneur must be able to make the right and appropriate decision, weighing the pros and cons.

Becoming an individual entrepreneur in our country is not so difficult. It is much more problematic to obtain permission to conduct founding activities. To become an individual entrepreneur, it is necessary to collect and submit to the tax authorities the appropriate package of documentation.

Future or newly created individual entrepreneurs are concerned about many organizational and legal issues. One of them is the question of whether an individual entrepreneur is obliged to open a current account.

Current account: necessary or not?

According to the legislative side of the issue, there are no measures taken against those individual entrepreneurs who have not opened a bank account. This is some kind of request, recommendation or wish to business participants.

So, whether to open an account or not is the desire of the entrepreneur himself. It is important that before state registration the individual entrepreneur has the necessary package of documents. As a rule, it consists of:

passports (original and photocopies);
TIN certificates (original and photocopies);
availability of an application for transfer to a light taxation system;
applications for registration as an individual entrepreneur;
presence of paid state duty;
document - notification of opening a bank account in the name of an individual entrepreneur.

What does opening a bank account do?

Legislation allows individual entrepreneurs not to open a current account. This point remains at the personal discretion of the businessman. How can future entrepreneurs determine when opening an account is necessary and when it can be omitted?

So, opening an account is necessary in the following cases:

Carrying out transactions worth more than 100,000 rubles. In other words, if non-cash payments by individual entrepreneurs to their counterparties or settlement transactions with clients are higher than this amount, then having a personal bank account is strictly necessary. The same applies when legal entities deposit an amount exceeding the specified amount into the individual entrepreneur’s account via non-cash payment.
Having a bank account is mandatory if an entrepreneur plans or will make non-cash contributions to the Pension Insurance Fund. Another point of interaction with the Pension Fund or other funds of the Russian Federation is its registration with these authorities. An individual entrepreneur may not open an account, but transfer contributions by money transfer. The law allows this.

Do I need to open an account to obtain a seal for an individual entrepreneur?

To be able to obtain a stamp, an individual entrepreneur does not have to open a bank account.

There is no need to collect documents either.

Stamps are produced by private organizations, which do not care at all what the format of payment for services will be: cash or non-cash. Naturally, the company will need a passport, TIN certificate, as well as OGRNIP so that the data on them completely matches the imprint on the future seal. Therefore, this should be taken very seriously.

The bank has the right to require the individual entrepreneur to provide a seal, although this is an uncommon occurrence. However, you need to be prepared for any unusual situations.

What are the pros and cons of having a checking account?

First, it’s worth mentioning all the positive aspects for an individual entrepreneur who has a personal bank account:

Unlike a legal entity, an individual entrepreneur does not need to pay the bank for cash management services. In addition, without a current account, there are no requirements for individual entrepreneurs in terms of depositing proceeds in cash to the bank. In addition, there will be no need to introduce restrictions on cash withdrawals. Thus, the work of individual entrepreneurs only with cash payments and only with physical counterparties completely eliminates the imposition of a limit on mutual settlements in cash.
When an individual entrepreneur plans to interact financially with third-party individual entrepreneurs or firms, an advisable solution would be to open a payment line at a bank. This is beneficial not only for legal counterparties, but also for the individual entrepreneur himself: his client base will not include only those who accept and make cash payments. Moreover, cash payments are possible with a limit of 100,000 rubles. This is inconvenient for those whose transactions involve a large transfer amount. If there is no settlement line, then payments exceeding the limit will have to be “divided” in order to carry them out according to the current limit.
Having your own current account gives an individual entrepreneur the opportunity not to purchase and use cash registers if transactions are carried out only in cash. In addition, the payment line at the bank allows you to carry out financial interactions with counterparties more comfortably and transparently. This is all thanks to clear documentation of monetary transactions with the account.
Opening a bank account will allow you to “protect” your finances from theft. You don’t have to worry that the safe will be broken into, because the money will be kept in the bank.

There is only one downside to opening your own bank account - the need to interact with a financial institution:

visit it to control the receipt of funds and their movement;
pay for bank services for settlement and cash services.

However, today you can reduce your visits to the bank by connecting to the Internet banking service, which simplifies the task of mutual settlements and control of funds.

Thus, it turns out that opening a personal bank account for an individual entrepreneur carries more positive aspects than inconveniences and disadvantages.

Is it possible for an individual entrepreneur to use a personal account for an individual?

According to the legislation of the Russian Federation, an individual entrepreneur does not have the right to use his personal current account for business purposes. However, this is also just a recommendation, meaning there will be no punishment.

Can an individual entrepreneur work without a current account 2019 - what does the law say? When starting a business, aspiring entrepreneurs have to face various questions. And you need to know for sure whether you can make payments only in cash, or use a card opened to a physical person. face. And also, in what cases an individual entrepreneur cannot do without a current account.

The right to work without a current account

The legislation of the Russian Federation does not require individual entrepreneurs to open a current account. That is, a businessman can easily work without it if he provides services or sells goods only to the public and his turnover is low.

But with large volumes of supplies, you need to make payments with partners and the amounts can be very large. In this case, is an invoice required for an individual entrepreneur? Each individual entrepreneur should think carefully about whether he can quickly pay suppliers in cash. There may also be tax implications when paying with a personal card.

Before making a decision, you need to consider the following legal points:

legislation allows entrepreneurs to open a bank account, but does not require it;
Cash payments under one agreement cannot exceed 100 thousand rubles. This restriction does not apply to wage payments and settlements with individuals.

An individual entrepreneur may not open an account immediately after registration. At the beginning of a business, there may not be a need for this. But as the business develops, the entrepreneur will evaluate all the disadvantages and advantages of non-cash transfers and then he should contact a banking institution.

It is important to remember the legal limit of 100 thousand rubles, otherwise the businessman will face serious troubles.

Advantages and disadvantages

When making a decision, you need to understand what the pros and cons of non-cash payments are, what opportunities they provide when doing business.

Advantages:

Possibility to make any payments. Using a personal card does not allow you to make business-related payments. The bank may block such a transaction, and questions will arise from the tax office. Even if the payment is not related to business, it will be difficult to prove this.
No restrictions on amounts. The limit of 100 thousand rubles does not apply to non-cash payments. An entrepreneur has the right to transfer any number of payments to one counterparty in an unlimited amount.
Possibility to carry out settlements with legal entities. For organizations, cash payments, especially large ones, are problematic.
Individual entrepreneur clients can pay for services or goods with their card.
Saving time and the ability to promptly pay taxes and fees to the budget (for example, timely pay for a patent or license), as well as settle accounts with partners.
Possibility to transfer wages to employee cards.

If the question is whether a current account is needed for an individual entrepreneur, it is worth noting that this increases the status of a businessman and inspires more confidence among partners.

The only downside is the additional maintenance costs. The amount per year is about 1000 rubles. But if you are active, this is a small price to pay and the benefits outweigh this disadvantage. In addition, entrepreneurs using the general taxation system or simplified taxation system (USN) income minus expenses can include this item in expenses.

To reduce costs for bank services, you need to familiarize yourself with the conditions offered by different financial institutions and choose the most suitable option.

How to choose a bank?

If an individual entrepreneur without a bank account decides to change his position, then he needs to carefully choose a bank. An important criterion is the reliability of the financial institution. There are a number of conditions that you need to pay attention to.

You need to ask the branch manager for the following:

Is there a fee for opening an account, and in what amounts? Some banks do this for free;
cost of settlement and cash services (price for each payment order sent);
amount of payment for subscription services;
Is it possible to make online payments (client-bank service);
under what conditions is a bank card issued?
is there free online customer support;
the size of the limit and commissions for withdrawing cash through an ATM;
under what conditions is a plastic card issued?
deposit amount for the remaining funds. Some banks offer a good percentage to cover service costs.

It is worth asking about the availability of programs for individual entrepreneurs. Some banks offer very attractive terms for individual entrepreneur lending.

Pay attention to the reputation and period of activity of the banking institution. An unreliable bank may be deprived of its license, and getting your money back will be problematic.

Opening an account

Since 2016, changes have been made to the procedure for opening a current account, which has significantly simplified this process for entrepreneurs. Until September 1, 2016, it was necessary to provide the bank with the original certificate of registration of individual entrepreneurs or a notarized copy.

Lawmakers have repealed this requirement. A bank employee can obtain such information online from a single register. Previously, for opening an account without such a document, the bank faced a fine of 20 thousand rubles.

In addition, entrepreneurs have the opportunity to open an account without visiting the office, if they already have a current account or bank card. An application is submitted online and a decision is made by the bank on the same day.

To open an account you will need the following documents:

passport;
license, if the type of activity requires it.

When submitting an application through a representative, a power of attorney is required.

To carry out transactions, you need to fill out the signatures of the entrepreneur or authorized representative, as well as with a seal. If you plan to make payments online, then this is not necessary.

Relations with the bank are secured by an agreement, which stipulates all the rights and obligations of the parties. In addition, an addendum with service rates is included. If the bank provides any services to the client on an individual basis, an additional agreement is drawn up. Documents are certified by the signatures and seals of the parties.

There is no need to notify the tax office or pension fund; the bank provides such information for each client.

The question of whether an individual entrepreneur needs to open a bank account in 2019 and how to do it has been sorted out. But can a financial institution refuse a client, and on what grounds?

Yes, the bank may not accept the application for the following reasons:

Providing an incomplete package of documents (lack of a license or power of attorney from the representative).
The document has expired (the entrepreneur did not renew the license or the age photograph was not pasted into the passport in a timely manner).
False documents. If a forgery is detected, the individual entrepreneur is held accountable.

If, in the client’s opinion, the bank refused unreasonably, you need to write an application to provide a written explanation. If the rights of the applicant are violated, you can go to court.

Risks associated with using a personal account

Today, the Tax Code does not contain a direct prohibition on the use of a personal account for payments related to business. Although the situation was reversed before 2014, the law clearly stated that such operations were illegal.

Let’s figure out whether it is necessary for an individual entrepreneur to open a bank account in 2019 or whether you can get by with your own card.

Reasons for the ban:

The bank may refuse to carry out a transaction related to business activities. This aspect is contained in the instruction of the Central Bank of the Russian Federation N 153-I.
The receipt of a large amount will interest the security service of a financial institution. This is due to the fight against money laundering.
When receiving funds from legal entities, NI has the right to charge 13% personal income tax for payment by an individual entrepreneur.
If an individual entrepreneur operates in a mode that requires confirmation of expenses (OSNO or simplified tax system for income minus expenses), payments made from a personal card will not be recognized as expenses.
When submitting a payment order, you must indicate the purpose of the payment. The specified agreement or account may become the basis for recognizing such a transaction as entrepreneurial. It will be difficult to prove otherwise.
If the tax office considers that the cash flows are related to the business, it may charge taxes on all transactions carried out.

These are quite serious risks leading to administrative and even criminal liability.

Opening a current account has a lot of advantages that allow you to save time and conduct business openly. This will save you from clashes with regulatory authorities and the cost of penalties.