Organization Resources
Opening a Bank Account in Your Organization's Name
Student organizations are not permitted to use the university's tax ID or tax exempt number (JMU Policy #4101)
Student organizations are not permitted to share tax ID information.
Organizations wishing to open bank accounts must apply for an Employee Identification Number (EIN) by completing the SS-4 form "Application for Employer Identification Number" published by the Department of the Treasury.
Complete the following sections of ss-4:
- Name of Student Organization as listed in its charter or constitution
- Trade Name should be the same as #1
- "Care of" name i.e. president or advisor
- A & B Fill in your organizations address
- Rockingham County, Virginia
- A & B Name of principal officer and their social security number
- A - Check "Other" and specify "Registered Student Organization a James Madison University, Harrisonburg, VA"
- Check "Banking purpose" and specify "to open bank account"
- Self explanatory
- Usually is "other" - specify "student organization"
- Self explanatory
- Self explanatory
Three convenient ways to get your EIN:
- Call the IRS at 1-800-829-4933 to immediately receive your EIN over the phone.
- Obtain an EIN on-line at https://sa1.www4.irs.gov/sa_vign/newFormSS4.doc
- Mail: Attn: EIN Operation, PO Box 9003, Holtsville, NY 11742-9003
EIN Questions: See Paula Lam, Assistant Director, University & College Centers, Taylor Hall, Suite 205B, call 568-7968, or email to lampe@jmu.edu.
Once E.I.N. has been assigned organizations may open a bank account at an appropriate financial institution.
updated 5-2004
Closing a Bank Account
If your organization is no longer active you will need to close out the account whether there is money in the account or not.
What to do with funds? Your organization could:
- Donate money to a charity in your organization's name
- Donate money to the JMU Foundation
