New York Single-Member LLC Operating Agreement for Bank Accounts
Generate a New York-compliant Operating Agreement formatted the way banks actually request it — with your LLC legal name, EIN, registered agent, and ownership details laid out for easy verification.
Company Details
Must match the exact name filed with the New York Department of State, Division of Corporations.
Registered Agent
Must have a physical New York street address (no P.O. boxes).
Sole Member / Owner
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Operating Agreement
Single-Member Limited Liability Company — State of New York
This Operating Agreement (the “Agreement”) is made and entered into as of October 5, 2026 by and between [Your LLC Name] (the “Company”), a single-member limited liability company organized under New York Limited Liability Company Law (N.Y. LLC Law), and [Your Name] (the “Sole Member”).
Company
[Your LLC Name]
Sole Member
[Your Name]
EIN
—
Formation Date
—
1. Formation
The Company was formed by filing Articles of Organization with the New York Department of State, Division of Corporations on [date] under New York Limited Liability Company Law (N.Y. LLC Law).
2. Registered Agent
[Registered Agent Name], located at [Registered Agent Address], serves as the Company’s registered agent in New York.
3. Management & Authority
The Sole Member manages the Company with full authority, including opening and maintaining bank accounts, entering contracts, and acting for the Company without further authorization.
4. Charging Order Protection
Under N.Y. LLC Law Section 607, a charging order is the exclusive remedy for judgment creditors of a member. New York courts have upheld charging order protection for single-member LLCs (see DL Resources Monolith, LLC v. Protracted Family Trust), keeping creditors out of the LLC's management.
5. New York Compliance
New York requires LLCs to publish a notice of formation in two newspapers (one weekly, one daily) in the county of the LLC's principal office within 120 days of formation, then file a Certificate of Publication with the Department of State, with fees ranging from $300 to $1,200 depending on county. NY LLCs also file a Biennial Statement every two years with a $9 fee, and must maintain a New York registered agent. State filing fee: $200 (plus $25 fee for service of process).
6. Tax Treatment
The Company is a disregarded entity for federal income tax purposes (Treasury Reg. § 301.7701-3); the Sole Member reports income on Schedule C of Form 1040.
7. Governing Law
This Agreement is governed by the laws of the State of New York, including New York Limited Liability Company Law (N.Y. LLC Law).
[Your Name] — Sole Member Signature
Date
Print Name: [Your Name]
Company Title: Sole Member / Manager
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Why New York Banks Require an Operating Agreement
When you open a business checking account for a single-member LLC in New York, banks like Chase, Citibank, Bank of America, TD Bank, and M&T Bank ask for your Operating Agreement for three key reasons: (1) to verify that your LLC’s legal name matches the name on your EIN letter from the IRS; (2) to confirm that you, as the sole member, have the authority to open accounts and sign for the company; and (3) to satisfy their Know Your Customer (KYC) and beneficial ownership documentation requirements under federal banking rules. Without an Operating Agreement, many branches will ask you to come back with one — or worse, open the account with missing documentation that delays transactions later.
Verifies
EIN & LLC legal name match
Confirms
Sole-member signing authority
Satisfies
KYC & beneficial ownership rules
How New York Limited Liability Company Law Protects You
New York single-member LLCs are governed by New York Limited Liability Company Law (N.Y. LLC Law). This statute gives your LLC a legal existence separate from you personally, which is the foundation of liability protection: business debts and lawsuits generally attach to the company, not to your personal assets.
An executed Operating Agreement strengthens that protection in two ways. First, it documents that you treat the LLC as a separate entity (separate finances, documented decisions, formal management structure) — which is exactly what courts look for when creditors try to “pierce the veil” and reach your personal assets. Second, it locks in the internal rules that govern the company under the statute, so there is never ambiguity about who owns or controls the business.
New York Compliance Alert
New York requires LLCs to publish a notice of formation in two newspapers (one weekly, one daily) in the county of the LLC's principal office within 120 days of formation, then file a Certificate of Publication with the Department of State, with fees ranging from $300 to $1,200 depending on county. NY LLCs also file a Biennial Statement every two years with a $9 fee, and must maintain a New York registered agent.
These obligations are administered by the New York Department of State, Division of Corporations. The LLC formation filing fee is $200 (plus $25 fee for service of process). Failing to stay in good standing can jeopardize the liability protection your Operating Agreement helps document.
New York Single-Member LLC Operating Agreement FAQs
Does New York require a single-member LLC to have an Operating Agreement?
No state, including New York, legally mandates a written Operating Agreement for internal validity — but banks, lenders, and courts treat your LLC as far more credible when you have one. Under New York Limited Liability Company Law (N.Y. LLC Law), an Operating Agreement governs the internal affairs of the LLC, and financial institutions like Chase, Citibank, Bank of America, TD Bank, and M&T Bank routinely ask for it when you open a business checking account so they can verify your EIN, ownership, and signing authority.
Do I need an Operating Agreement to open a business bank account in New York?
Most banks in New York, including Chase, Citibank, Bank of America, TD Bank, and M&T Bank, will ask for your Operating Agreement (or a Certification of Formation) as part of their business account onboarding process. They use it to confirm that the person opening the account is authorized to act for the LLC and to match the LLC's legal name to its EIN. While technically a single-member LLC without an Operating Agreement can still open accounts, having one avoids delays, confusion, and re-visits to the branch.
Does New York protect my LLC assets from my personal creditors?
Yes, in most cases. Under N.Y. LLC Law Section 607, a charging order is the exclusive remedy for judgment creditors of a member. New York courts have upheld charging order protection for single-member LLCs (see DL Resources Monolith, LLC v. Protracted Family Trust), keeping creditors out of the LLC's management. This means your personal judgment creditors generally cannot seize LLC assets directly or force a distribution — they are limited to distributions the LLC chooses to make. Note that this protection is strongest when the LLC is treated as a separate entity (separate bank account, documented records, and an executed Operating Agreement).
What are the annual requirements and fees for an LLC in New York?
New York requires LLCs to publish a notice of formation in two newspapers (one weekly, one daily) in the county of the LLC's principal office within 120 days of formation, then file a Certificate of Publication with the Department of State, with fees ranging from $300 to $1,200 depending on county. NY LLCs also file a Biennial Statement every two years with a $9 fee, and must maintain a New York registered agent. The state LLC filing fee is $200 (plus $25 fee for service of process), paid to the New York Department of State, Division of Corporations. Keeping your LLC in good standing — filings current and registered agent up to date — is essential to preserving the liability protection the New York Limited Liability Company Law (N.Y. LLC Law) provides.
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