At some point, you may be asked to show proof of ownership for your LLC. The request often happens when you open a business bank account. If you’ve never needed to prove that you own your LLC, it’s understandable that you might be unsure of what to do next. Here’s what you need to know.
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.