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Corporate name/Legal entity changes
How to proceed?
Changing your business name seems like a small thing… but a lot goes into that! Because we are federally required (per the Patriot Act) to disclose your credit card processing back to the IRS, we are required to open a new, separate account when your business entity changes. To be clear – this is NOT the same as just choosing a new “DBA” or “Doing Business As” name. We only require a new application if you receive a new EIN or Taxpayer ID number from the IRS. Since we’re required to report credit card processing for each entity back to the IRS, we require a new account.
If you’ve received a new EIN, please complete a pre-application for the new legal entity.