Formation Process
Quick and Accurate Filing for your US Business – Guaranteed
Register your US Business, worry-free, through doola’s team of trusted experts!
Starts at $297 + State Fees
Get started in a few simple steps
1
Form your company
As soon as we get some information and payment, we start forming your company! We don’t need any documents to get started. ‍Just fill out this form with:
- Your ideal company name
- A personal address (can be anywhere in the world)
- Your email (so we can stay in touch)
*Later in the process, you will need your passport to set up your bank account.
Timeline: 1 week (on average)
Dependencies: State processing speeds
Get your U.S. Employer Identification Number (EIN)
Once your company is formed, we start working on your EIN application (Employer Identification Number).
*A U.S. Social Security Number (SSN) is not needed and we apply on your behalf!
Timeline (with SSN): 1 - 2 business days
Timeline (without SSN): 8 weeks (on average)
Dependencies: The IRS (Internal Revenue Service) processing speeds
*doola will submit your EIN application to the IRS within 1-2 days after your LLC is formed with the state. However, during peak processing times (between January and April, tax season in the US), the IRS can take up to 8-10 weeks to process and return your EIN number without an SSN. ‍
2
3
Apply for your US bank account
Once you get your EIN (required for a bank account!), you’re ready to apply for a U.S. Bank Account through our custom partner portal. A passport is required for this step. ‍
Timeline: 3 - 5 business days
Dependencies: The bank set up process
Payment Processor
Once your bank account is set up, we’ll help you connect it to your payment processor so you can start accessing the payments sent to your account!
Timeline: 3 - 5 business days
Dependencies: The payment processor process
4
What information do you need from me to get started?
We don’t need any documents to get started. We just need a few pieces of info from you:
- Your Company Name
- Your Personal Address
- Phone Number and Email (For contact purposes)
Later in the process, you’ll need a passport to set up your bank account.
What is an EIN?
An Employer Identification Number is the tax identification number for your organization and a requirement of many banks or institutions (such as the IRS) to carry out business in the US. Once your EIN is acquired, you can apply for business bank accounts and payment gateways. Learn more about the full process.
What is an ITIN?
An Individual Tax Identification Number (ITIN) can be used as an alternative for a Social Security Number (SSN) in some cases and is not a requirement in most cases. However, you will be required to have one if you wish to apply for a PayPal account or certain bank accounts. We walk you through how this process looks like in our guide!
What is an LLC (Limited Liability Company)?
A limited liability company is a formal business structure (created as per state law) where the business is legally distinct from the owner(s). It may have a single owner in the case of a Single-Member LLC or multiple owners in the case of a Multi-Member LLC.
An LLC combines the perks of a corporation (protection against personal liability) and a partnership (pass-through taxation). Since the business has a separate legal existence, the members are not personally liable for the debts and obligations of the Company.
State laws stipulate how LLCs should be incorporated. Some states require specific documents, such as the articles of organization, membership agreement, etc., to be filed with the authorities.
Learn more about LLCs and how they work in FREE ebook.Â
What is the fine for missing the US tax filing deadline for an LLC?
If you forget to file OR are late for filing Form 5472 and Form 1120 as a Foreign-Owned Single-Member LLC, then the fine from the IRS is $25,000. Read more about it here.
Still have a question?
Schedule a free consultation with an expert from doola, today.
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