Do I absolutely need a LLC to open a business banking account or can I open one with an umbrella policy?
You can open a business bank account in your own name as a sole proprietor without forming a legal entity such as an LLC. However, the bank may want you to have a federal tax ID number, often referred to an as Employer ID Number (EIN).
These can be obtained online for no charge at irs.gov. For a sole proprietorship they will ask for your reason for applying, and you should check "banking purposes." Hope this helps.
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