Taking over my siblings account. Transferring to LLC? NEED HELP!


#4

Sellers move from private to LLC all the time. You may need your brother to be a silent partner.


#5

Okay I’ll take that into consideration thanks.


#6

@JwsMarket gave you the best advice; but be wary of taxes. Make sure you form an LLC with an EIN that is yours, not your brother’s.


#7

What do you mean exactly by having my brother as a silent partner?


#8

@JwsMarket sorry to bother you, but i had an idea which i dont know will work or not. What if i were to go to “update tax information” and edit and change the “legal entity name” ?? Would it still be under my brother’s name for tax purposes? or would it be my name. We live in the same house, the account is linked under my email, my bank information, etc. Let me know please! Thanks for your help


#9

It’s the Tax ID number, that needs to be changed. No matter what “legal entity name” you use, if the tax ID is still your brother’s, income taxes will be charged to your brother, not you.

Be aware, you will also need utility bills and possibly other documents, to verify the new entity. All documents, must match the information in your seller account. Please read through Info: Why was my account suspended, immediately after registration? for information concerning documents.


#10

@Rushdie Thanks for your detailed response. If i change the “legal entity name,” will the Tax ID be mine or still say my brothers?


#11

Have your Brother “Hire” You to handle his Account…if you’re not truly “Joint Owners”…Digging too Deep here can be Trouble.

Setting up an LLC Will be nothing but MORE Trouble because you’ll STILL Need Another AZ Account which may be hard to Get…

But Consult with a Tax Person on Tax Issues…


#12

@cabinfeverbooks i thought transferring this account to an LLC was going to be quite simple? And then i can add my brother as a “silent partner.”

This is stressful.


#13

A name change alone does nothing to remove your brother’s social security number from being liable for taxes.

There are two parts, under Legal Entity:

Edit to add: YOU must use your Social Security number or get an EIN, under YOUR name, to make this work.


#14

That is not true… Please do not make false statements, it confuses and clutters the forums.

Accounts can be sold and transferred. People sell their amazon businesses all the time then transfer them.


#15

Have you ever read the terms of service you agreed to when you registered? If you did, you would know that @bookwormapril is correct.


#16

What, you think I just made it up?

Amazon’s rules, not mine:

Seller accounts generally are not transferable. Seller accounts provide access to the tools and resources that sellers use to list their products and manage their orders. Seller accounts also include account activity history and buyer feedback. Every seller on Amazon must have a seller account and an agreement with Amazon that establishes the terms under which the seller lists and sells their products.

If the ownership of a business changes for any reason, the new owner needs to establish a new seller account.

If the ownership of a business isn’t changing, but the individuals responsible for managing the seller account have changed, you can add users to the account. For more information, see Set User Permissions.


#17

After thinking about this for a while, why not do the smart thing, by contacting
Seller-Performance@amazon.com and explain the situation.

Write a SIMPLE letter stating, you and your brother currently own the account, but your brother no longer wishes to keep the account and all you want to do is REMOVE your brother from the account, so you remain the sole owner. In order to do this, you need to change the SS number.

Honestly, anything else you try, may end up in a suspension.

The crux of the matter is, if you open a new account, since your address is the same as your brother’s, you may wind up with a multiple account suspension.

Bit of a Catch-22, that is best approached honestly, through Seller Performance.


#18

OP reads like one of the shotty sellers who buys established accounts, and reeks havoc.


#19

As explained initially by the OP, the brother owns the account. Period.


#20

Quoting from Post #8, the OP stated:

…We live in the same house, the account is linked under my email, my bank information, etc.

Technically, they are both on the account. Wouldn’t hurt to ask SP, in any event. They may permit it, since the email and bank are under the OP’s name.


#21

I had overlooked that part. Thanks.

It sounds a bit of a slippery slope though.


#22

Which is why I am suggesting they contact SP. If they do something untoward, the account may be suspended and they will still have to recall the inventory from FBA, which is precisely what they are trying to avoid.


#23

@Rushdie May be a dumb question, but literally copy-paste "Seller-Performance@amazon.com" into an email and send it? Or do it through seller support? Trying to see which way would be best, in terms of getting the quickest response.