Debtor-in-Possession Accounts | Sunstate Bank
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Debtor-in-Possession Account

Court-Compliant Banking for Chapter 11 Reorganizations

When a business files for Chapter 11 bankruptcy, it must open a Debtor-in-Possession (DIP) account to legally manage finances during the reorganization process. Sunstate Bank offers fully compliant DIP accounts that meet the requirements of the U.S. Trustee Program and the Southern District of Florida.

We provide a streamlined experience with responsive service, court-recognized procedures, and fast account setup - so you can focus on rebuilding.

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Key Benefits

Fully Compliant with Court Requirements

Structured to meet federal regulations and trustee oversight standards.

Properly Titled Accounts

Accounts are labeled clearly with your business name and "Debtor in Possession" status.

Dedicated Support Team

Our bankers understand the sensitivity of bankruptcy cases and can assist attorneys, CPAs, and trustees.

Secure Recordkeeping

Maintain transparency with detailed monthly statements, online access, and optional dual-control features.

Free Online & Mobile Banking

Access your account 24/7 to monitor balances, make payments, and download transaction history.

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What Is a DIP Account?

A Debtor-in-Possession Account is a legally required checking account for businesses undergoing Chapter 11 bankruptcy. It ensures transparency and accountability as the debtor continues to operate the business and work toward a financial restructuring.

DIP accounts must be:

  • Opened with court approval
  • Clearly labeled with the DIP designation
  • Maintained separately from other accounts
  • Held at a bank authorized by the U.S. Trustee Program

Sunstate Bank is a listed Region 21 Authorized Depository for the Southern District of Florida.

 

Why Open Your DIP Account at Sunstate?

  • Recognized depository by the U.S. Trustee Program
  • Quick, compliant account setup
  • Trusted by bankruptcy attorneys, CPAs, and restructuring firms across South Florida
  • Multilingual team (English, Spanish, Portuguese)
  • Personalized support every step of the way

DIP Account Snapshot

Eligibility Chapter 11 Debtors with court authorization
Authorized Region Region 21 – Southern District of Florida
FDIC Insurance Up to $250,000 per ownership category

Get Started with a DIP Account

Contact a Sunstate Bank Business Banker or visit one of our local branches in Coral Gables, West Miami, or The Falls to begin the setup process. We’ll help ensure your DIP account is opened correctly - with the transparency, compliance, and speed your case requires.

Contact a Business Banker

*DIP accounts must be opened in accordance with U.S. Bankruptcy Code regulations and require supporting documentation (e.g., bankruptcy petition, court order, case number). For full account disclosures, please call or stop into one of our branches. Additional fees may apply.