To open a bank account for the Gonen Statutory Trust (or any of its specific series), you need a “Banker’s Packet” that proves the trust is a legal entity and identifies who has the authority to sign for it.

​Because you are using a Series Trust, you must be very careful: if you want the “legal firewall” to work, each series should ideally have its own bank account.

​1. The Essential Document Checklist

​Most major banks (like Chase, Wells Fargo, or Wyoming-specific banks like First Interstate) will require the following:

  • ​Filed Certificate of Trust: A copy of the original document stamped by the Wyoming Secretary of State.
  • ​The Filed Amendment: The document we just discussed containing the Section 9 Segregated Liability notice. This proves to the bank that “Series 1” is legally distinct from the “Master Trust.”
  • ​The Governing Instrument: Your internal trust agreement (the one we drafted earlier). The bank will look for the section that gives you, the Trustee, the power to open bank accounts.
  • ​Employer Identification Number (EIN): * The Master Trust needs an EIN from the IRS.
    • ​For the Series: Depending on how you choose to tax the trust, the bank may require a separate EIN for each series to keep the money truly “segregated.”
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    • ​Series Designation & Schedule A: This proves that “Series 1” actually exists and that you are the authorized manager for it.
    • ​Two Forms of ID: For the Trustee(s) who will be signers on the account (one must be a government-issued photo ID).
    ​2. The “Resolution to Open a Bank Account” ​Banks often have their own internal form, but it’s professional to bring your own Trustee Resolution. This is a simple one-page document where you, as Trustee, formally resolve that the trust is opening an account at [Bank Name]. ​3. Key Banking Tips for Series Trusts
    • ​Naming the Account: The account name should match your Series Designation exactly.
      • ​Example: Gonen Statutory Trust, Series 1
    • ​Avoid “Master” Accounts: Do not open one big account and “track” the different series inside it using a spreadsheet. This is called commingling and it is the #1 way to lose your asset protection in court. Each series needs its own dedicated account with its own login.
    • ​The EIN Trap: When applying for an EIN on the IRS website, select “Statutory Trust” or “Trust” as the entity type. If you have multiple series, consult with a CPA to decide if you should file as a “Series Organization” or get individual EINs for each “cell.”
    ​4. What to say to the Banker ​Many retail bankers are familiar with LLCs but might be confused by a Statutory Trust. If they seem unsure, point them to Wyoming Statute § 17-23-108, which explicitly authorizes the “segregated liability” you are using. ​Would you like me to draft the “Trustee Resolution to Open a Bank Account” so you can have it signed and ready for your bank meeting?