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Updated almost 3 years ago on . Most recent reply
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EIN# for Property LLC under a Holding LLC
When you have a Property LLC owned by a single member Holding LLC, how do you obtain an EIN# for it? Do you apply for the EIN# using your SSN as the member and owner of the Holding LLC or you obtain it by using the Holding LLC EIN#?
And how do you open a bank account for the Property LLC when it is owned and managed by the member (Holding LLC)?
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Originally posted by @Mike Jones:
I see. I don't mind applying using my ssn#, just want to do it the right way. I had to use my ssn# when i applied to the EIN of the holding LLC. One other question that come to mind is, how do I open a bank account for the Property LLC if its owned by the Holding LLC and member managed by it? The holding LLC is a manager managed and I am the manager owner. Property LLC is single member managed and 100% owned by the Holding. I am not on the Property LLC. Being the owner and manager of the Holding LLC gives me right to the Property LLC?
The bank will want the EIN for that LLC.
They will want to see the operating agreement and articles of organization.
The member/manager is your holding. You are the manager of the holding; so when you sign for the property LLC you can sign:
for Property LLC, by John Doe as Manager of Holding LLC, member/manager of Property LLC
The bank will probably also need to see document from the holding LLC showing that you are the manager.
You may also be asked a resolution from Property LLC to open a bank account.
In my case, my holding LLC and properties LLC accounts are in the same bank (easier to do instant online transfer from the same login). So they already have all the information for my holding, and when I am adding a new property LLC, they just need the documents for the LLC and they link it immediately to the holding. I don't even have to go to the branch anymore, I just email them the article of organization, sign a few online documents and a few days later my new bank account is ready to be used.