# 26.03.10-open-bank-account

**Linear:** MAN-4 — https://linear.app/manglasabang/issue/MAN-4/260310-open-bank-account
**Status:** Done
**Project:** palacefund

## Description
Open Mercury business checking account for Palace Fund LLC. This account receives Sungho Park's $300K wire from Korea.

**Status:** COMPLETE — Mercury account approved and live (2026-03-12).

## Steps

- [X] Apply at [mercury.com](<http://mercury.com>) (2026-03-08)
- [X] Upload Articles of Organization, OA, EIN letter
- [X] Verify identity + enable 2FA
- [X] Invite ace@palace.fund as team member
- [X] Submit additional documents + residential address (2026-03-10)
- [X] Mercury approval received (2026-03-12)

## Account Details

* Bank: Mercury (Choice Financial Group, Column N.A. — FDIC-insured)
* FDIC coverage: Up to $5M via sweep networks
* Admin: junwon@palace.fund
* Team member: ace@palace.fund

## Unblocked

* **MAN-33** — 해외직접투자 신고 (Korean filing before wire)
* **MAN-34** — Wire $300K from Sungho Park (includes getting wire instructions)
* **MAN-36** — Form D SEC filing (within 15 days of wire)
* **MAN-37** — ITIN application