Business FormationLLC, Corporation, Not-for-Profit
Eligibility to Form an LLC, Corporation, or Non-Profit
● U.S. Citizens & Residents: Fully eligible to form and own LLCs, Corporations, and Non-profits● Non-U.S. Citizens & Foreign Nationals: Eligible to form and own LLCs & Corporations in all states (no citizenship or SSN required)● Non-U.S. Residents: Eligible to form entities remotely; may need registered agent & U.S. address● Foreign Companies / Trusts: May form subsidiary or U.S. entity with proper documentation● Minors: Generally allowed to be owners with guardian execution (varies by state)● Non-Profit Eligibility: Must operate for public benefit; cannot distribute profits to owners Visa Note: Forming a business does not grant immigration status. Certain visas (E-2, L-1, EB-5) may use U.S. entities for qualification but require separate immigration filings.
DIY Step-by-Step (No agent or lawyer)
Step 1 — Choose Your Entity Type Decide whether you need an LLC, Corporation, or Non-Profit based on liability, taxes, ownership goals, and funding plans. ● Research differences (LLC vs Corp vs S-Corp vs Non-Profit)● Confirm tax structure (default, S-Corp election, nonprofit tax exemption)● Verify if you need a board (Corporation & Non-Profit) https://www.irs.gov/businesses/small-businesses-self-employed/business-structures https://www.irs.gov/charities-non-profits/applying-for-tax-exempt-status
Step 2 — Select State of Formation Choose where to register:● Home State: Local businesses, freelancers, single-state operation ● Delaware/Wyoming/Nevada: Startups, investors, anonymity needs, multi-state business ● Forming outside your home state may require foreign registration where you operate. Step 3 — Check Name Availability Search state database and domain/social availability: ● State Secretary of State search tool ● USPTO Trademark search: https://tmsearch.uspto.gov/ ● Domain name search (optional) ● Social media availability (optional) ● Some states let you reserve a name for 30–120 days. Step 4 — Appoint a Registered Agent You must list a physical address in the state: ● You may be your own agent (if state allows)● Must be available for mail/legal notices● PO Boxes not allowedhttps://www.sba.gov/business-guide/launch-your-business/register-your-business
Step 5 — File Formation Documents with the State File online or by mail:● LLC - Articles of Organization ● Corporation - Articles of Incorporation ● Non-Profit - Non-Profit Articles of Incorporation State fee: $49–$800+ depending on state Processing: Immediate–10 business days Keep your stamped approval copy — this is your proof of formation.
Step 6 — Create Internal Governing Documents ● LLC - Operating Agreement● Corporation - Bylaws + Initial Resolutions● Non-Profit - Bylaws + Conflict of Interest Policy + Board Minutes Step 7 (not mandatory) — File BOIR (Beneficial Ownership Report) Required for most businesses formed in 2024+ File at FinCEN BOI portal — free
https://boiefiling.fincen.gov/ https://www.fincen.gov/boi/small-entity-compliance-guide
Deadline: 90 days after formation (2024) 30 days after formation (2025+)
Info needed: ● Owners' names, addresses, IDs ● Company details ● Organizer info (for new entities) Step 8 — Apply for EIN (Tax ID) Apply online (U.S. persons)https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
Fax/mail form SS-4 (foreign owners)https://www.irs.gov/pub/irs-pdf/fss4.pdf
Used for: ● Banking ● Payroll ● Tax filings ● Merchant processors
Step 9 — Create Corporate Records Store: ● Articles of formation ● EIN letter (CP 575) ● Operating docs / bylaws ● BOI confirmation ● Resolutions/minutes ● Ownership ledger & certificates (if Corp or multi-owner LLC) ● Digital or binder format.
https://www.irs.gov/businesses/small-businesses-self-employed/recordkeeping Step 10 — Open Business Bank Account Bring: ● Articles ● EIN confirmation ● Operating Agreement / Bylaws ● ID & proof of address ● Some banks require in-person visits for foreign owners.
Estimated DIY Costs: ● State Filing Fee: $49–$800+ ● Registered Agent: $100–$1200/yr ● EIN: Free ● BOIR: Free ● Operating Docs / Bylaws Templates: $50–$250 ● Corporate Binder/Seal: $50–$250
Common Mistakes We Help Avoid
● Filing incorrect entity type or tax classification ● Name issues (restricted words, duplicates, trademark conflicts) ● Missing initial resolutions or Operating Agreement/Bylaws ● Incorrect registered agent setup ● Failing to file BOIR within required timeframe ● Missing IRS nonprofit exemption steps ● S-Corp election errors or late filing (Form 2553)
Documents & Information Needed
Personal / Owner Information ● Full legal name ● Residential address ● Date of birth ● Email & phone number ● Identification (driver’s license / passport — state-dependent) ● Ownership percentage allocation ● Officer/manager titles (if applicable)
Business Information ● Legal business name & 2–3 backup name choices ● Business industry/activity description (NAICS code optional) ● Business physical address (real or registered agent address) ● Mailing address (may be different) Registered Agent Information ● Agent name/company ● Agent physical address (must be in the state of formation) For Non-Profit Formations often required● Mission statement & charitable purpose ● Initial board member list ● Officer titles ● Planned programs/activities ● Address & contact information ● Tax-exempt intent (501(c)(3) or other classification) ● Conflict of Interest Policy For Foreign Owners ● Passport ID page (if requested) ● Foreign address ● U.S. mailing address or registered agent address ● ITIN (if available — not required upfront for entity creation) ● Formation agent/organizer authorization
Let Victoria Handle It for You
Skip the paperwork, avoid mistakes, and get your LLCs, Corporations, and Not-for-Profits properly formed. As a corporate compliance specialist, Victoria takes care of filings, compliance, and deadlines - so you can focus on growing your business.
Agency Founder, Victoria Duchovny