Handling ownership or legal entity changes on a research merchant account

Identify exactly what will change

Write down whether the change affects the legal entity, its owners, the trading name, the authorized signer, or the bank account. Note when the change takes effect and which records are being updated. The IRS explains when certain ownership or structure changes may require a different EIN.

Ask the provider which approval process applies

• Provide the effective date and the old and new business names through the approved channel.
• Ask which entity and ownership documents the reviewer needs.
• Confirm who may process new payments, when the change may take effect, and whether a new agreement is required.
• Check how earlier refunds, disputes, reserves, and account reports will be handled.

Plan the transition of records and deposits

Identify which company is responsible for orders already placed and which one will sell going forward. Keep dated copies of buyer-facing terms and invoice templates. Reconcile the first deposit under the new arrangement and keep a route for resolving issues with earlier transactions.