Why did my bank close my foreign LLC account and what compliance triggers should I watch for?
I just received a letter from my bank saying they're closing my foreign LLC's account in 30 days with no specific reason given. I've had this account for 18 months and never had any issues. My LLC is properly formed with all filings up to date.
I'm scrambling to find a new bank before the closure date. Can they just close my account like this? What might have triggered it? And how do I prevent this from happening with my next bank account?
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