Charles Schwab Business Account
Companies, groups, and corporations of all sizes can open investment accounts at Charles Schwab. The firm offers investing accounts for Limited Liability Companies (LLCs) that include various benefits at affordable rates. However, a high initial deposit is also generally required to begin trading.
Available LLC Types at Schwab
Schwab will open an investment account for any of the following Limited Liability Companies:
- Single-Member LLC
- LLC with C Corporation tax structure
- LLC with Partnership tax structure
- LLC with S Corporation tax structure
Opening a Business Account at Schwab
Although most account types at Schwab
can be opened on its website or mobile app, an LLC account needs a paper application. It is not possible to open it online. However, the ideal place to start is Schwab’s online organization account hub, which provides very detailed information on entity accounts and includes downloadable links for the application. Be certain to choose the unincorporated form instead of the incorporated version (an LLC is always unincorporated).
After downloading the correct form, it must be filled in with the required data. This includes Social Security Numbers and driver’s license numbers for everyone involved in the account. Because the PDF document is fillable, it might be wise to complete it on a computer, print it out, and then sign it. The form can also be saved for future use if needed. All sections must be accurately completed to avoid delays.
After the form is finished and printed, everyone authorized on the account must sign it. Once that is done, it’s time to send the paperwork to Schwab. There are multiple ways to accomplish this. One option is to drop it off at a local brick-and-mortar office. A second idea is to fax it in using the company’s fax number (888) 526-7252. Another method is to upload it through the document upload tool on the website (an account login is necessary for that). Each approach can be used according to preference. And a final route is to mail it to one of two addresses:
Regular Mail (West)
Charles Schwab & Co., Inc.
P.O. Box 982600
El Paso, TX 79998-2600
Regular Mail (East)
Charles Schwab & Co., Inc.
P.O. Box 628291
Orlando, FL 32862-8291
Once Schwab receives the completed form, it will process the application. A few business days are needed for this. When Schwab finishes, it will send the account number to the individuals listed on the account application. That account number can be used to log into the account via the website or mobile app.
Charles Schwab Website
Open Schwab Account
Extra Help from a Financial Consultant
LLC account applicants with questions or who need assistance can contact a Financial Advisor at Schwab. There is no charge for this support, and it remains available even after the account is established. A Financial Consultant can be reached at a branch location or by calling (866) 516-0483.
Trading in an LLC Account
Once the business account is open, it will have access to many investment products. For domestic LLCs that use the partnership, S-corp, or C-corp tax structure, this includes the full range of assets Schwab offers, such as futures contracts and foreign stocks. International LLCs and single-member LLCs cannot trade futures or foreign stocks but can trade other products like stocks and bonds. LLCs of all kinds can trade options, use margin, and short sell.
Schwab Business Account Fees and Minimums
Schwab requires $250,000 to open an LLC account. Fortunately, this amount can be distributed across multiple accounts. Although this requirement can feel challenging, trades made with these funds will benefit from low commissions. Trades of stocks and exchange-traded funds on the major U.S. exchanges have zero commissions when placed online. Treasury trades are very inexpensive, and many mutual funds carry zero loads and no transaction fees.
LLC Education
Logging in will provide many resources on both the website and mobile app. Under the Learn tab on the website, there are educational materials that business accounts should examine. During our review, we located these articles:
- Business Succession: 3 Ways to Transfer Ownership
- When to Pay Taxes on Restricted Stock Awards
- Japan: Reclaiming Lost Decades
- Looking to the Futures: Natural Gas Approaches Resistance as Inventories Rise
- Debt Problem More Than Just a Ceiling
- How to Handle an Inherited Business
Charles Schwab Business Account Judgment
Small and large businesses that operate as LLCs have solid resources at Schwab. Extra help from a financial advisor is free, and unbeatable pricing on stock trades offers a great value. The $250,000 relationship minimum can be a drawback, but some businesses will easily meet it by using more than one account.
Updated on 4/8/2025.
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