Adding a Member to an LLC: A Step-by-Step Guide
Learn how to add a member to an LLC, including the necessary paperwork and formalities. Follow these steps to ensure compliance with state laws and regulations.
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Before we dive into the process, it's important to note that the specific requirements for adding a member to an LLC may vary depending on your state of incorporation. Be sure to check with your state's business filing office or consult with an attorney to ensure compliance with local laws.
To add a member to an LLC, you'll need to file a certificate of amendment with your state's business filing office. This document will need to include the following information:
- The name and address of the LLC
- The name and address of the new member
- The type of membership interest being added (e.g. general partner, limited partner, etc.)
- The percentage of ownership being added
Additionally, you may need to provide a copy of the new member's identification and proof of residency. The specific requirements for this documentation will vary depending on your state.
Once you've gathered the necessary information and documentation, you can file the certificate of amendment with your state's business filing office. You'll need to pay a filing fee, which will vary depending on your state.
After filing the certificate of amendment, you'll need to update your LLC's articles of organization to reflect the new member. This may require amending the articles of organization or filing a new set of articles with your state's business filing office.
Finally, you'll need to update your LLC's operating agreement to reflect the new member. This may require amending the operating agreement or filing a new set of operating agreements with your state's business filing office.
By following these steps, you can successfully add a member to your LLC. Remember to check with your state's business filing office or consult with an attorney to ensure compliance with local laws.