Walmart Seller Onboarding Requires a U.S. Business Entity and EIN
Walmart marketplace sellers based in Bosnia and Herzegovina face a specific hurdle during onboarding: the requirement for a U.S. business entity and an Employer Identification Number (EIN). Unlike sellers on some other platforms, Walmart mandates this structure to facilitate payments and tax reporting within the United States. This means that even if your business operations are entirely in Bosnia and Herzegovina, you must first establish a U.S. presence, typically as a U.S. LLC, and obtain an EIN before you can even apply for a U.S. bank account. This initial setup is the critical trigger for needing a U.S. bank account to receive payouts from your Walmart sales. Without this U.S. business foundation, opening a suitable bank account becomes impossible, halting your ability to sell on the platform.
U.S. Bank Account is Mandatory for Walmart Payouts
For Walmart marketplace sellers, a U.S. bank account is not optional; it is a mandatory requirement for receiving payouts. Walmart operates primarily within the U.S. financial system and disburses seller funds to U.S. domiciled bank accounts. This is due to regulatory compliance, ease of transaction processing, and tax reporting obligations. Therefore, sellers from Bosnia and Herzegovina must secure a U.S. bank account to receive their earnings. This account serves as the direct conduit for funds generated from sales on the Walmart platform. Attempting to use a foreign bank account is not supported and will prevent successful onboarding and payment reception.
Required Documents for U.S. Bank Account Opening
Opening a U.S. bank account as a non-resident seller requires specific documentation. The primary document is your EIN confirmation letter, issued by the IRS after approval of your Form SS-4 application. You will also need formation documents for your U.S. business entity, such as the Articles of Organization if you formed a U.S. LLC. Personal identification is essential, typically including a clear copy of your passport. Additionally, proof of your physical address is required; this can be a utility bill or bank statement from Bosnia and Herzegovina. Some banks may also request a Certificate of Good Standing or a business license, depending on the U.S. state where your entity is registered. Ensure all documents are clear, legible, and accurately reflect your legal name and business details.
The Remote Application Process and Timeline
The process for opening a U.S. bank account remotely typically involves several steps. First, you must have your U.S. business entity established and your EIN secured. Once these are in place, you can begin the bank application. This involves completing the bank's specific Know Your Customer (KYC) and Anti-Money Laundering (AML) application, which is similar to the IRS's requirements but bank-specific. You will submit the required documents electronically. After application submission, the bank reviews your information. The typical timeline from application submission to an active account with a debit card ranges from 5–10 business days. This timeline can vary based on the bank's internal processing times and the completeness of your submitted documentation. Delays often occur due to missing or unclear documents.
Common Pitfalls for Walmart Sellers from Bosnia and Herzegovina
Walmart marketplace sellers from Bosnia and Herzegovina often encounter specific pitfalls. A major one is attempting to open an account with large national U.S. banks that outright decline non-resident applicants without a U.S. physical presence. Another common mistake is failing to obtain an EIN before attempting to open the bank account, as Walmart requires it for onboarding, and most U.S. banks require it for business accounts. Incomplete or mismatched documentation is also frequent; for instance, using a business name on one document and a slightly different one on another. Finally, some sellers overlook the need for a U.S. business entity, thinking an ITIN or a foreign entity is sufficient, which is not the case for Walmart's requirements.
Leveraging a Certified Acceptance Agent (CAA) for ITIN Applications
While this post focuses on U.S. bank accounts, the journey for non-residents often begins with obtaining an ITIN (Individual Taxpayer Identification Number) if they don't have an SSN or EIN. itin.net operates as a Certified Acceptance Agent (CAA) for ITIN applications. As a CAA, we can assist non-residents in applying for an ITIN by verifying their identity documents in person, eliminating the need to mail original passports to the IRS. This service is distinct from bank account opening but is often a precursor for individuals needing to file U.S. tax returns or establish certain business structures. While not directly required for the bank account itself if you have an EIN, understanding the CAA path can be beneficial for broader U.S. tax compliance.
Next Steps for U.S. Bank Account Setup
Once you have your U.S. business entity and EIN, the next critical step is opening your U.S. bank account. This enables you to complete your Walmart marketplace seller onboarding. For those needing assistance with the entire process, from U.S. business formation and EIN application to U.S. bank account opening, itin.net offers comprehensive solutions. Review the pricing for our Basic Banking Setup or the Full Banking Bundle, which includes U.S. LLC formation and EIN support, to understand the investment. Alternatively, contact us directly to discuss your specific needs.
Practical tips
- Ensure your U.S. LLC's registered agent address is a physical U.S. address, not a P.O. Box, as required by most states.
- Use the exact legal name for your U.S. LLC on all applications, including the EIN application and bank account opening.
- Have clear, scanned copies of your passport and any other identification documents readily available before starting the bank application.
- When applying for your EIN via Form SS-4, accurately list your business activity and indicate that you are a foreign-owned entity.
- Confirm with the chosen bank their specific requirements for non-resident business owners before starting the application process to avoid delays.
Frequently asked questions
Can I open a U.S. bank account for Walmart if I am a resident of Bosnia and Herzegovina without a U.S. LLC?
No, Walmart specifically requires sellers to have a U.S. business entity, such as a U.S. LLC, and an EIN to receive payouts. A personal U.S. bank account or a bank account for a foreign entity will not suffice for Walmart marketplace onboarding.
How long does it take to get an EIN for my U.S. LLC as a non-resident?
If applying online as a foreign applicant, the EIN is typically issued immediately upon completion of the Form SS-4 application. If applying by fax or mail, it can take several weeks. Using a service like itin.net can expedite this process.
Do I need to visit the U.S. to open a bank account for my Walmart business?
No, it is possible to open a U.S. bank account remotely as a non-resident. Many fintech banks and some traditional banks allow for online applications and document submission from abroad. This is often facilitated once you have your U.S. business entity and EIN established.
What if my U.S. LLC is registered in Delaware, but I operate from Bosnia and Herzegovina?
This is a common scenario. Your U.S. LLC can be registered in a state like Delaware, even if you are a resident of Bosnia and Herzegovina. You will still need a U.S. EIN and a U.S. bank account, which can be opened remotely after forming the LLC and obtaining the EIN.
Can I use my ITIN to open a U.S. bank account for my Walmart business?
An ITIN is for individuals for tax purposes and is generally not sufficient for opening a business bank account required by Walmart. Walmart requires a U.S. business entity and an EIN. An ITIN is not a substitute for an EIN.
What are the ongoing compliance requirements for a U.S. LLC owned by a resident of Bosnia and Herzegovina?
As a non-resident owner of a U.S. LLC, you will likely need to file Form 5472 annually with the IRS to report transactions between your LLC and yourself. This is separate from your income tax obligations and is crucial for compliance. Confirm specific requirements with a qualified tax professional.
