Entity formation checklist
The practical sequence from name clearance through bank account — the same steps Elephant tracks in the entity checklist.
Key facts
- Typical sequence: clear the name → appoint a registered agent → file the formation document → get an EIN → adopt governing docs → open a bank account → store everything in the vault.
- The IRS issues EINs online at no charge for most eligible applicants; beware paid "EIN services" that only resell the free process.
- An operating agreement and bylaws or initial resolutions are internal governance documents; state filing alone does not record every ownership, voting, and distribution term.
Formation sequence
1) Confirm the legal name is available with the state's business registry. 2) Appoint a registered agent and registered office that satisfy state requirements. 3) File the state's formation document with its designated filing office and pay the fee. 4) Apply for an EIN from the IRS. 5) Adopt an operating agreement (LLC) or bylaws and initial resolutions (corp). 6) Open a dedicated bank account. 7) Keep filed copies, EIN confirmation, and governing docs in a secure vault.
Elephant's entity module walks this checklist and stores uploads. Partner-powered state filing is on the product roadmap; until then you or your counsel file with the state.
After you form
Calendar annual report or franchise tax deadlines. Update ownership when members change. Retitle or assign assets so the entity actually owns what you think it owns — see funding your entity.
References
This guide is educational only and is not legal, tax, or investment advice. Laws vary by state and change over time; confirm current figures with the linked primary sources or a licensed professional in your state.
Related guides
Funding your entity
Formation papers do not move assets by themselves — how to title property, assign interests, and keep the inventory honest.
LLC vs C-Corp vs S-Corp
How LLC, C-corporation, and S-corporation treatment differ for family holdings and operating companies.
Delaware vs Wyoming vs home state
Tradeoffs among common formation states for holding companies and startups — general information, not a recommendation for your facts.
Home state vs Delaware incorporation
When forming in Delaware actually helps — and when a solo founder in Georgia (or any home state) is better off incorporating locally.
Put it into practice
Elephant turns these documents into a guided, state-aware workflow — drafted, executed, and stored in one encrypted vault.
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