Name Change Process
In order to legally effect a name change, LLCs and corporations are required to file a Certificate of Amendment with the state where they were originally formed. This document, along with a name-change letter, must be submitted to the IRS to update your new name in the IRS records.
Notifying Stakeholders
Once your new business name is updated with the IRS, you should inform everyone else about your company’s name change. This includes preparing a list of your vendors, bankers, creditors, and other agencies that should be notified about the name change.
Changing Business Name with IRS
- Business owners and authorized individuals can submit a name change for their business with the IRS.
- The specific action required may vary depending on the type of business.
- Changing a business name should be a rational decision. The IRS outlines a step-by-step procedure to follow for the name change.
IRS Form Submission
The first step in changing your business name with the IRS is to obtain the necessary forms. The specific form you need to fill out will depend on the type of business entity you have.
Updating EIN and Business Name
If you have recently changed the name of your LLC or corporation, you’ll need to know how to execute an IRS business name change, as well as an EIN name change. It’s your responsibility to make sure that everyone knows your company’s new name, including the IRS. Under most circumstances, changing your business name with the IRS will not require a new EIN—though it will require an EIN name change.
IRS Business Name Change Timeline
The IRS typically takes about two months to register a business name change. The timing is important because even if you were able to change your name at the county or state level, your federal taxes could end up posing a bigger problem if you have mismatching names.