You've taken the first step and have successfully formed your LLC, but how do you confirm that you are the owner? We'll answer that in this blog post!
Looking for a quick summary? Here it is!
When your LLC is formed the state will send you a document called a Limited Liability Company Articles of Organization.
Below is an example of an Articles of Organization from a company created in Wyoming. As you can see, the personal information of the LLC owner is not on this document.
Why? Wyoming is one of the states that provides great privacy protection so it allows one to put the name of the registered agent on the public record (the articles of organization) to protect the personal information of the LLC owners. Delaware is another state which offers this!
Note: When working with us, in our signup flow, you can decide whether or not you want to have this privacy protection, which is the most common option our customers select!
You will also receive a document called your Initial Resolutions.
This document is documentation that the organizer (read: filer) of your LLC has formed your LLC and it also includes:
The Initial Resolutions document is often in the same PDF document as your Operating Agreement.
The operating agreement is a document that outlines the bylaws of the company and is the "internal structure" for how the LLC operates! Below are some pictures of what this looks like:
These are the documents that you can use to designate and show who the member or members of the LLC are!
Here's the important thing to note though: These documents are internal documents!
In other words this means:
Again this document does not need to be re-submitted to the state.
This is one of the major benefits of an LLC: the flexibility it provides and ease it provides in making updates / amendments!
To make changes to this document, the state has explicitly told us: “Simply download the document and use a PDF editor to make changes to fit your needs. It [the operating agreement] is not legally binding until signed. Since this is an internal document, it does not need to be submitted back to us or to the state for any reason.”
This can happen in several ways:
In either case, there is nothing to worry about and there is an easy fix.
Here are the steps:
Note: We are also more than happy to make this edit for you if the document is blank or has a typo (either the incorrect name OR a misspelling of the name!)
Lastly another document which shows LLC ownership is your EIN confirmation letter! This is a letter sent by the IRS once your EIN has been assigned. We've blurred out the information below but you can see the "Sole MBR" = "Sole Member" field below and the EIN number!
There are various documents you receive when you form an LLC. Your operating agreement is the document which will reflect ownership of your LLC (and your EIN confirmation letter can do this as well!)
If you have any questions about forming an LLC, or designating LLC ownership don't hesitate to live chat us online.
Sajid
India
Kishore Nuvvula
United Kingdom
Jiwan Neupane
Nepal
Ronnie Donaire
United Kingdom
Naomie Jean Philippe
United States
Ronnie Donaire
United Kingdom
Kishore Nuvvula
United Kingdom
Jiwan Neupane
Nepal
Naomie Jean Philippe
United States
Sajid
India