Should I open a LLC bank account ?
Hello I am a individual seller on Amazon and now I want to open a LLC business and switch my account to business.Should I change my billing payment account to LLC on Amazon ? Now my personal name is on my account in US bank its not business.When I change to LLC should I open a LLC bank account and verify it to Amazon ? from where can I change to my individual account to business LLC account ? I am new to this things..Thank you.
Should I open a LLC bank account ?
Hello I am a individual seller on Amazon and now I want to open a LLC business and switch my account to business.Should I change my billing payment account to LLC on Amazon ? Now my personal name is on my account in US bank its not business.When I change to LLC should I open a LLC bank account and verify it to Amazon ? from where can I change to my individual account to business LLC account ? I am new to this things..Thank you.
4 replies
Seller_nRFmxiQg4EGrw
As a business, your business should have a bank account separate from your personal account. This will help demonstrate for tax purposes that you are in fact a real business, and make it easier to track the money flow. This is regardless of any factors with Amazon.
I'm not sure of the process with updating with Amazon. I suspect that it will take some time, during which time you might be unable to sell, but IMO, if you are going to work on becoming a serious business, it's the thing to do. And the sooner the better; the process won't get easier with time.
I also suggest getting an FEIN, even if you have no employees. Again, falls into the category of "easier now than later"..
Seller_2OdQ2ezZuXJnn
Dear @Seller_nRFmxiQg4EGrwthank you very much for your helpful reply.I started the LLC business and now waiting the establishing process. I will update my accoount with business in acccount info part yes ? Also I know I must have a business account but just think to update it later you said (This is regardless of any factors with Amazon.) because of verification process if it takes long time or not..And you said FEIN number did you mean EIN number its the same or different ? I will own my LLC business alone no any other members. Best Regards.
Steve_Amazon
Hi @Seller_2OdQ2ezZuXJnn,
Steve from Amazon here, thank you for reaching out. In this situation, I recommend that you create a case to Seller Support with these questions. Seller Support will be able to provide the proper guidance based on how your account is currently set up.
If Seller Support is unable to help, please drop the case ID here and I am happy to review the case further.
Please let me know if there are any questions.
Thanks,
Steve
