How do I create a business account with River?

River makes it quick and easy to onboard a business. With a business account, you can use all of River's features. You can buy, sell, send and receive bitcoin, as well as earn Bitcoin Interest on Cash. You can also protect your business account with ForceField.

Unlike a personal account which reports all activity using a Social Security number, a business account reports account activity using a provided tax ID.

1. What business structures are supported by River?
2. Onboarding instructions
3. Is there a cost to open or maintain a business account?
4. Who can be an authorized individual on a business account?
5. When can I fund my business account?
6. What documents are needed to create a business account?
7. How can I set up an IRA LLC or solo 401(k)?
8. Where can I find my River tax documents and account statements?

What business structures are supported by River?

River supports the following entity types:

• LLCs
• Corporations
• Trusts
• Partnerships
• Non-profit organizations
• Sole proprietorships
• Solo 401(k)s
• IRA LLCs
• IRA trusts

Onboarding instructions

You can onboard a business with River by taking the following steps: 

Step 1: Account signup 
If you are new to River, sign up for an account and choose "Business." You will need to provide both your personal and business information.

If you are an existing River client, please reach out to our team at support@river.com. A member of our Business Onboarding team will contact you to discuss next steps.

Step 2: Document Collection
Depending on your business type, River will request appropriate documentation. You will also be asked to complete an onboarding application. 

Step 3: River Review
River will review your documentation and application, and provide a status update within 1 business day.

Step 4: Business Account Creation 
River will create your business account under your login. You will receive a confirmation email once River has created the account.

Is there a cost to open or maintain a business account?

There is no cost to open or maintain a business account with River. River only charges fees for buying and selling bitcoin.

Who can be an authorized individual on a business account?

River supports only one authorized individual on a business account. The authorized individual can create and manage a business account, as well as buy, sell, send, and receive bitcoin.

When can I fund my business account?

You can start funding your River business account once the business has been successfully onboarded. You will receive a confirmation email once your business account has been created. Please note that if you attempt to fund your account before onboarding is complete, River will request further documentation and your onboarding may be delayed.

What documents are needed to create a business account?

Required documents vary based on the type of business you wish to onboard at River. 

For any LLC or IRA LLC, River requires: 

• Articles of organization
• Operating agreement

For any corporation, River requires:

• Articles of incorporation
• Proof of beneficial ownership, typically in the form of a capitalization table

For any trust, IRA trust, or solo 401k, River requires:

• Trust agreement or a trust memorandum

For any partnership, River requires:

• Partnership agreement

For any nonprofit, River requires:

• Articles of incorporation
• The organization's three most recent bank statements or most recent Form 990

For any sole proprietorships, required documents will vary.

How can I set up an IRA LLC or solo 401(k)?

Through our partnership with Rocket Dollar, you can quickly and easily set up a self-directed retirement account. Once complete, onboarding this entity to our platform is seamless. More information on this can be found here: https://www.rocketdollar.com/partner-details/river-financial.

Where can I find my River tax documents and account statements?

Tax documents and account statements are located in your "Taxes & Documents."