Businesses
Business Formation Documents
To onboard, businesses must provide business formation documents. This guide outlines acceptable formation documents for each business entity type.
Acceptable Formation Documents by Entity Type
Sole Proprietorships
Sole Proprietorships
- Business License
- Trade Name Registration
- DBA (“Doing Business As”) Filing
Partnerships
Partnerships
- General Partnerships (GP)
- Partnership Agreement
- Business License listing all partners
- Trade Name Registration (DBA) listing all partners
- Limited Partnerships (LP)
- Certificate or Registration of Limited Partnership–filed with the secretary of state or similar government body to officially form the LP
- Limited Liability Partnerships (LLP)
- Certificate or Registration of Limited Liability Partnership–filed with the secretary of state or similar government body to register the LLP
Corporations
Corporations
- Articles of Incorporation–filed with the secretary of state or similar government body
- Certificate of Incorporation–filed with the secretary of state or similar government body
Limited Liability Companies (LLC)
Limited Liability Companies (LLC)
- Articles of Organization–filed with the secretary of state or similar government body
- Certificate of Incorporation–filed with the secretary of state or similar government body
Nonprofit Organizations
Nonprofit Organizations
- Articles of Incorporation–filed with the secretary of state or similar government body
- Certificate of Incorporation–filed with the secretary of state or similar government body
- In Addition Application for Tax-Exempt Status: Form 1023 or 1023-EZ filed with the IRS to obtain 501(c)(3) status or similar tax-exempt recognition
Foundations
Foundations
- Articles of Incorporation–filed with the secretary of state or similar government body
- Certificate of Incorporation–filed with the secretary of state or similar government body
Decentralized Autonomous Organizations (DAOs)
Decentralized Autonomous Organizations (DAOs)
- Legal Entity Formation–if the DAO formed a legal entity (e.g., LLC) with the secretary of state or similar government body
- Other DOA Formation Documents:
- White Paper
- Membership or Token Agreement
- Governance Framework
Trusts
Trusts
- Trust Deed (or Trust Agreement)–establishing the trust and outlining the roles of the trustors, trustees, beneficiaries, and terms of the trust
- Certificate of Trust (or Abstract of Trust)–proving the existence of the trust and the trustee’s authority
- Notarized Trustee’s Affidavit–confirming the identity and authority of the trust parties
Cooperatives
Cooperatives
- Articles of Incorporation–filed with the secretary of state or similar government body, establishing the cooperative listing its members
- Bylaws–confirming the creation of the cooperative and specifying the cooperative’s governance and operational rules
- Membership Agreement–outlining the terms of membership, rights, and responsibilities of cooperative members