Private Bank Account

Private Bank Account

No state registration, no fees, no franchise taxes, and no resident agent

At different times in your financial life the idea of having an anonymous, truly private bank account could have enhanced a transaction or your safety.

This is one reason you might consider getting a Corporation or LLC. But then you have government paperwork, annual fees, and online visibility. Good but not great. You leave a breadcrumb trail.

How might you use a private bank account?

  • Anonymous Investing
  • Anonymous Donations
  • Separate from SSN
  • Rainy Day Fund
  • Safety from Malicious Intent
  • Lottery or Inheritance Protection
  • Estate Planning
  • Rebuilding Personal Credit
  • During or After Bankruptcy
  • Offshore Onshore – Switzerland in America
  • Lower Audit Profile
  • Lower Lawsuit Profile

How can you get all these advantages without a Corporation or LLC?

Simple, use a Business Trust

The business trust has no state registration, no fees, no franchise taxes, and no resident agent. If you do the setup right, it remains unlisted to all outsiders.

You might say a Corporation or LLC is private too. But what if you don’t want your name on the public records? You must find and pay someone to act as the officer or manager. Add that to your list of things to do. With the business trust you do not need anyone else, only you.

You can be an anonymous investor or donor without anyone knowing your name. High profile individuals might prefer to remain behind a curtain for various reasons.

One other factor you might like is that anyone looking up your personal name or SSN for assets will not connect to the Business Trust account. This defensive planning could be helpful if you’re concerned about a lawsuit or tax audit.

If you have an inheritance or lucky lottery forthcoming use the business trust account to keep those funds legally separated from you personally. But you remain in control of the money.

Everyone gets hit with a downdraft during their business life. Maybe it’s foreclosure or even bankruptcy. Get a private bank account setup. Keep those funds safely on the side while you’re working through a mess or getting restarted.

Taxwise – funds in the business trust bank account are separate from your personal funds. Yet if the trust account earns income it would file a business tax return. That income is passed through to you and included as part of your personal tax return.

You might imagine an offshore bank account. Various providers sell this as an easy solution. It is not. It is complicated. Consider the Bahamas, Bermuda, or the Cook Islands. You create an offshore company which includes passport identification registered with that government. Repeat this process with the offshore bank. You file FACTA reports with the IRS. You also file FBAR repots with FinCEN.

Stay onshore – no reports – lower profile – Business Trust – hiding in plain sight.


A business trust bank account offers you many advantages and opportunities. It’s unlisted to outsiders. Once setup you’ll look back and realize a new peace of mind.