How to Verify Business Ownership

By IncNow | Published August 31, 2018

bank-teller“I just went to my bank to open a business account for my new Delaware LLC and they won’t accept the Certificate of Formation as proof that I own the company. How can I prove LLC ownership?”

Dear Customer,

Usually neither the Members nor Manager’s names are included in any initial filing document when forming an LLC in Delaware. We, as registered agent, sign as the authorized person (also known as an “organizer”) and file the certificate with the state, listing us (Agents and Corporations, Inc.) as Registered Agent.

The Delaware LLC Operating Agreement, which is a “partnership agreement” signed by the Members of an LLC that establishes the rules and regulations of an LLCs operations, sets forth the ownership and management structure. Delaware requires that every LLC have an operating agreement. You can present this document to the bank to further establish ownership. The cover letter sent with our package can be shown to the bank to show you ordered the LLC.

If you require more proof of ownership and connection to the LLC, we can prepare a Statement of Organizer. A Statement of Organizer is a document that also states the initial members or managers of an LLC. It is prepared by the authorized person/organizer. IncNow can provide this document at the time a company is formed or up to 20 days after formation. Our customers find that opening a bank account after forming a company with us is normally remarkably easy. Read more about the IncNow Advantage here.

MORE: What Is the Delaware Franchise Tax?

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When deciding where to form your company, consider that Delaware has advantages over your home state that may benefit you. Go