Ellicott City, MD asked in Banking and Business Formation for Maryland

Q: Can a minor operate a bank account for a business?

I'm an 16 year old trying to start a non-profit. As a minor, am I allowed to operate the bank account for my non-profit?

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1 Lawyer Answer
Mark Oakley
Mark Oakley
  • Business Law Lawyer
  • Rockville, MD
  • Licensed in Maryland

A: Until you turn 18, you are deemed a minor without legal capacity to enter into binding enforceable contracts. That means no other parties will agree to do business with you if they know you are a minor. Banks require that you show photo ID and proof of age, so you cannot open an account solely in your name. You can have your parent or other adult open the account for you, however, and they remain signatory and responsible on the account.

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