To anyone who is forming a road association you may find this beneficial in regards to creating a bank account. This only applies to those who are on a private road with a PUBLIC EASEMENT and is not a homeowner association.

Your by laws once approved by its members must have some specific information in it and conflict of interest clause. If you're interested in the specifications please contact me from the membership list.

Immediately obtain a tax id from the IRS. Apply to the state of Maine's secretary of State as a non-profit organization. Upon receipt of your number you will have within 60 days from the date the by laws are approved to report to the IRS an intent to operate under 501 c 4, filing a  form 8976.

 The 501 c 4 is best recommended to operate a road association. Because you are collecting assessment dues from members,  you do not want your members to claim that their dues are a donation. The problem with a 501 c3 is it's classification is considered a contribution, thus a tax deductible donation. This results in members perceiving that their dues are voluntary, thus unwilling to pay. Whereas, a 501 c 4  key distinction being that donations are generally not tax-deductible. 

The paperwork to apply to the IRS for a 501 c 4 is brutal. I have a very successful accountant that knows how to fill out the form and submit it to the IRS. Once you receive your approval from the IRS, that is the document of proof of your status with the IRS that the bank will need for you to set up your account.

You are required to report an e postcard (online and just 2 questions)1x a year with the IRS.  If you're interested in contacting this accountant then please message me through the membership list. I will be concluding my membership by the end of this term with MARA, thus taking a vacation from road association administration, thereby my contact info will be deleted in the future.