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What information is required during the application process?

To help you open a Lili business account smoothly, we’ll ask for information about you, your business, and any additional business owners. Having these details and documents ready will help us review your application faster.

1. Information about you (primary applicant)

We start by verifying your identity. Be ready to provide:

  • First and last name
  • Mobile phone number
  • Email address (for sign‑in and application updates)
  • Social Security number (for U.S. applicants) or passport details (for eligible non‑U.S. applicants)
  • Date of birth
  • Personal (physical) home address

We may also ask you to upload a valid government‑issued photo ID so we can verify your information as required by law.

2. Information about your business

Next, we’ll ask for key details about your company so we can understand how you operate and set up your account accurately.

You’ll be asked for:

  • Legal business name (as shown on your registration documents)
  • Any trade name or DBA your business uses
  • Employer Identification Number (EIN)
  • Business entity type
  • Business industry
  • Business address 
  • Operational address 

We may also ask a few questions about how you plan to use your Lili account, such as:

  • Expected monthly deposits and payments
  • Primary ways you receive and send funds (for example: ACH, wires, card payments, payment processors)
  • Business website or online presence 
  • Main countries where you do business

These details help us keep your account secure and set expectations for your account activity.

3. Information about other business owners

If your business has more than one owner, we are required to collect information for each person who owns a significant share of the company or has substantial control.

For each additional business owner, please be prepared to provide:

  • Full legal name
  • Home address
  • Email
  • Phone number
  • Date of birth
  • Social Security number (for U.S. applicants) or passport details (for eligible non‑U.S. applicants)
  • Ownership percentage

We may also request a government‑issued photo ID for each additional owner. Collecting this information is part of standard regulatory requirements for business accounts.

4. Business documents you may need

Depending on your business type, we may ask you to upload official documents that confirm your business is properly formed and active. In each case, we look for state‑filed or IRS‑issued documents that clearly show your business name and relevant details.

Here are typical documents we may request by entity type:

  • LLC
    • Articles of Organization or Certificate of Organization
    • Operating Agreement (especially for multi‑member LLCs)
    • IRS EIN letter 
  • Corporation (C‑Corp / S‑Corp)
    • Articles of Incorporation or Certificate of Incorporation
    • Bylaws or similar governing document
    • IRS EIN letter 
  • Partnerships
    • Partnership Agreement that lists the partners and ownership percentages
    • Any registration or formation document filed with the state or county
    • IRS EIN letter or other EIN confirmation
  • Nonprofit organization
    • Articles of Incorporation or other formation document
    • IRS determination letter 
    • EIN confirmation from the IRS

We may also request additional supporting documents, such as:

  • Proof that your business is active and in good standing with the state
  • Recent name‑change or ownership‑change documents, if applicable

5. Document quality and format tips

To keep your review moving quickly, please make sure that any documents you upload:

  • Are clear and easy to read (no glare, shadows, or cut‑off corners)
  • Show all pages of the document, including signatures and stamps where applicable
  • Are current and filed with the relevant state or federal agency
  • Are uploaded in a standard format, such as PDF, JPG, or PNG

6. What happens after you apply

Once you submit your application:

  • Our team reviews your information and documents
  • In some cases, we may reach out to request clarification or an additional document
  • You’ll receive updates by email if we need anything else or once a decision is made

Responding quickly to any follow‑up requests helps us complete your review and get your account ready to use sooner.

 

Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC. The Lili Visa® Debit Card is issued by Sunrise Banks, N.A., Member FDIC, pursuant to a license from Visa U.S.A., Inc. The Card may be used everywhere Visa debit cards are accepted. 

Wire Transfer services are provided by Column Bank N.A., Member FDIC. All wires are subject to acceptance criteria and risk-based review and may be rejected at the sole discretion of Column Bank N. A. or Lili App Inc.