Rockford, IL asked in White Collar Crime for Illinois

Q: What is the best way to transfer our corporate bank account into another

so we don't violate any rules - do we have to file anything with the IRS?

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1 Lawyer Answer
T. J. Jesky
T. J. Jesky
Answered
  • Chicago, IL
  • Licensed in Illinois

A: To best answer your question, I would need more information. For example, are you just transferring your corporate bank account to another bank. A corporation has its own unique EIN number with the IRS. This number identifies the corporation. Just because the corporation changes bank accounts, the EIN would remain the same. Now if you are transferring the corporate bank account to a different entity (or person) you would need a number of corporate formalities to be completed.

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