Single member LLC to multi-member LLC (partnership)

[Sasi Kumar]

Hi,

I am a newbie when it comes to LLC creation. Here is my scenario and the need to do it-

"One main LLC is buying a few acres of land as investment next month. After conversations with main LLC folks, me and my 4 relatives are also interested in investing/contributing to this investment. So, i created a LLC as a single member to start with which might be a mistake. I got the EIN from IRS and opened a bank account. Now, i want to add my 4 relatives as well to this LLC so that we can go as a group and finally the gains/losses can be a pass through to each of us for tax purposes."

To make this happen, my understanding is I need to file form 8832 with IRS to convert the single member LLC to partnership. Also, one thing i am not sure is do i need to list my 4 relatives names in the form WITH THEIR SIGNATURES? as they live in different states than me that makes it a little complicated.

Please providing any guidance with the form 8832 question & over all approach if i am doing anything incorrect.

Thanks in advance.