Chase Business Complete Checking Bonus, hard to get?

Hi y'all, I've been with Chase for a long time and gotten numerous bonuses from opening new cards (Chase Freedom, Freedom Unlimited, Freedom Flex, etc). I got a flyer today for the Business Complete Checking account. It says you get a $400 bonus for a $2K deposit and a $500 for $10K.

It's advertised as something to help launch your business. However, I believe you do not need a formal LLC and can instead register as a sole proprietor using your name and SSN. Does anyone know if this is true? Has anyone attempted this? Seems like an easy bonus to snag if you have the money to deposit.