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
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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 may 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 week (on average)
Timeline (without SSN): 4 weeks (on average)
Dependencies: The IRS (Internal Revenue Service) processing speeds
*The IRS has been severely impacted by COVID-19 which has delayed filing speeds significantly. We are working around the clock to get EIN applications to the IRS as fast as possible and advise entrepreneurs to submit applications as quickly as they can.
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: 1-2 weeks (on average)
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: A few days (on average
Dependencies: The payment processor process
4
FAQs
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 our guide.
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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