Federal Deposit Insurance Corporation - FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Federal Deposit Insurance Corporation - FDIC-Insured - Backed by the full faith and credit of the U.S. Government
Cheerful businesswoman meets with client
DISCLAIMER: By viewing information on this website and account offerings by Premier Bank you recognize such information does not constitute legal advice. Customers considering DIP accounts should consult with a qualified legal professional and research official guidelines published by the US Department of Justice or other applicable guidance.
Premier Bank N.A. is a community bank based in Omaha, Nebraska and is an authorized depository in all 21 regions of the United States Trustee Program. Working with businesses across the United States, we have a focus of helping customers establish DIP accounts as required by the US Bankruptcy courts.
After required documentation has been provided to open the DIP account, we can typically have the account opened in one to two business days. Our team will guide you through the account opening process.
We understand there are challenges associated with going through bankruptcy and we want to help make your banking experience smooth and easy for you. Please see the FAQ section for additional information.
If we can help you with a DIP account, please complete the form below or email corporateservices@premierbankne.com
DISCLAIMER: By viewing information on this website and account offerings by Premier Bank you recognize such information does not constitute legal advice. Customers considering DIP accounts should consult with a qualified legal professional and research official guidelines published by the US Department of Justice or other applicable guidance.
A DIP account is a bank account opened by a debtor after filing for Chapter 11 bankruptcy. It is used to manage post-petition financial transactions and must be clearly labeled as a “Debtor-in-Possession” account.
Federal bankruptcy law requires debtors to separate pre-petition and post-petition financial activity. All pre-existing accounts must be closed, and new DIP accounts must be opened to ensure transparency and compliance with U.S. Trustee oversight.
Immediately after filing the bankruptcy petition. All pre-petition accounts must be closed without delay, and DIP accounts must be opened at a U.S. Trustee-authorized depository.
Each U.S. Trustee region maintains a list of approved financial institutions. You can find these on the U.S. Trustee Program website or by contacting your regional U.S. Trustee office.
Typically, you must open: A general operating account; A tax account (for payroll and other taxes); A payroll account (if applicable); Additional accounts may be required depending on the nature of your business. Consult a qualified legal or tax professional.
No. All such platforms must be closed. Only traditional bank accounts at authorized depositories are permitted for DIP funds.
You will generally need: A copy of the bankruptcy petition; The court case number; A copy of the U.S. Trustee’s guidelines; Business formation documents; Operation agreement; A corporate resolution authorizing the account; Government-issued identification for signors and beneficial owners.
No. However, you must notify the U.S. Trustee and ensure the account is properly titled and maintained at an authorized institution.
Failure to comply may result in: Dismissal or conversion of your case; Appointment of a trustee; Sanctions or other legal consequences.