“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?”
When forming an LLC in Delaware, usually neither the Members’ nor Manager’s names are included in any initial filing document. 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.
How Do I Show LLC Ownership?
The Delaware LLC Operating Agreement is a “partnership agreement” that establishes the rules and regulations of an LLC. The Members of an LLC sign the agreement setting forth the ownership percentages/units, management structure, and rules for how to sell interests in the business. Delaware requires that every LLC have an operating agreement.
You can present the LLC Agreement to the bank to establish ownership. You can also show the cover letter sent with our package to your bank to show you ordered the LLC.
What If I Need More Proof of LLC Ownership?
If your bank requires more proof of ownership and connection to the LLC, we can prepare a Statement of Organizer. A Statement of Organizer is a document that states the initial members or managers of an LLC. The authorized person/organizer at IncNow prepares this document. While the Operating Agreement should be sufficient proof of ownership, some banks require further assurance. IncNow can provide this document at the time you form a company 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.