Updating ownership structure - HELP!

[Evan K.]

Hi Everyone!

Quick question. Before I ask, I know its recommended that I speak with my attorney and/or CPA.

I hold each of my properties in their own LLC. I recently created a parent-company (holding company) and in the process of updating ownership structure with the IRS. However, when I submitted forms 8822-B the IRS sent back and said ownership could only be changed to an individual.

Question: How do I go about updating my ownership structure with the IRS, from sole member to owned by a parent LLC?

Thanks!