Lambda Theta Phi - EIN Request Form
Form for brothers in leadership roles with Lambda active entities (including regions, sectors, undergraduate, and alumni chapters) to request their respective EIN from the National Board. The EIN must be used strictly for banking purposes. All entities have been designated as unincorporated associations. This will grant them the ability to establish business bank accounts designated for non for profits at their preferred local bank institution and/or university affiliated credit union.
Note - any entity with annual (August - July) receipts/balances less than $5,000 should be designated as a 501c7 without applying for the non-for-profit status.
Lastly, IF YOUR SCHOOL’S STUDENT OFFICE REQUIRES A BANK ACCOUNT WITH THE LOCAL CREDIT UNION, THE CHAPTER MUST FOLLOW SCHOOL’S PROCEDURES.
Bank Account Opening Requirements
Documents generally required to establish a bank account:
1) Articles of Association/Entity Bylaws
2) Copy of the IRS Determination Letter, showing the entity's EIN
3) Listing of the persons authorized to be on the account: Entity President, Treasurer must be included. Note at least three approved signatures should be on each account.
4) Entity Minutes to confirm members listed as president and treasurer
Minimum Balances to be maintained in a Bank Account
Generally, bank institutions require an average monthly balance to be held in an account to avoid monthly service fees. The average monthly balance may be at least $1,500. Please DO NOT request an EIN if you don't feel comfortable that your entity can satisfy the minimum balance and/or pay the monthly service fee.
Entities will be responsible for filing taxes using IRS Form 990. Details to follow.
Within 3 business days of your submission, you will receive a copy of your entity's EIN and respective documents that is required to establish a bank account.
Chapter/Colony President's Name
Chapter/Colony President's Email
Chapter/Colony Treasurer Name
Chapter/Colony Treasurer Email
Your Current Leadership Role
Entity Name Requesting EIN
I've read the requirements for establishing a bank account
I understand the requirements to establish a bank account, not for a tax-deductible purpose
Expectations for maintaining a bank account is understood
I understand that banks may require a minimum balance and charge fees if they are not met.
Do Not Fill This Out