How to Open a Small Business Account

At CIBC, we offer a choice of three business accounts to meet the individual needs of your enterprise:

CIBC Business Operating Account™ – a Canadian dollar account for the day-to-day operation of your business
CIBC Business Interest Account® – a tiered investment savings account for business clients, available only in Canadian dollars
CIBC US Dollar Current Account – an operating account for businesses that is designed to meet your U.S. business needs

To learn more about any of these accounts, select the account name from the Related Links on the right side of the page.

Getting started

There are four easy steps to open any of these accounts:

Step 1 – Complete the Small Business Account Application. See the "Account application form" section below for more information on how to do this using Adobe Acrobat Reader†.

Step 2 – Drop off the completed application at your CIBC branch.

To find the CIBC branch closest to you, select “Branch Locator” from the Related Links.

Step 3 – A CIBC representative will review your application and will contact you to set up a brief appointment.

Step 4 – We will save you time by processing your application and setting up your account in advance of your appointment. If all the documentation is in order, you will have a fully functioning business account after your appointment.

Alternatively, if you (and your principals and signing officers) are present with all the required business documents, and a CIBC representative is available when you drop off the completed application, we may be able to open the account while you wait. However, this process will require you to spend more time in the branch.

For your appointment

Please bring the following when you visit the branch to finalize your account:

your Small Business Account Application, with all appropriate signatures
two pieces of original identification for each principal and signing officer (include one with a photo)

Please also bring the following business documents:

If you are a sole proprietor (not incorporated, nor a partnership) – your original business name registration, if you are using a business name
If your business is a partnership – your original partnership registration (or, where provincial law does not require registration, your partnership agreement)
If your business is a corporation – your original articles or certificate of incorporation and the most recent filing with your incorporating jurisdiction, listing your directors (or if applicable, your Trade Name Registration)

If your corporation has been in existence for more than one year, you are also required to provide one of the following documents. The document must have been issued within the past year:

Certificate of Corporate Status
Certificate of Existence
Company's Annual Report for past fiscal year
Company's most recent Notice of Assessment
Current business license or vendor permits
Current health or safety certificates
Current Liquor license

If your business is an unincorporated association – the association's original constitution and bylaws.

Account application form

For your convenience, the account application form is available in Adobe Portable Document Format (PDF). You can fill out this application before you go to the branch using one of two methods:

Print the application form and fill it out manually by pen, or
Fill out the application form electronically by typing in the required information, then print it out.

Account application form (400 KB)

If you require further assistance, please contact Telephone Banking customer support at 1-866-525-8622.

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† "Adobe", "Acrobat", and "Acrobat Reader" are either registered trademarks or trademarks of Adobe Systems Incorporated in the United States and/or other countries.

The information in this article is general only; it is not intended as specific investment, financial, accounting, legal or tax advice for any individual.