Changing from a business to self employed
Hi,
We are closing down the Ltd company, and I'm just selling off the final stock under my own name (we have purchased the remaining stock from the company). However, Amazon still has our account registered as a business and I can't edit the bank account (it says the account needs to be in the name of my business)
I've asked SS, but I'm not holding out much hope for a good solution - so I thought I'd ask here to see if anyone has any ideas :)
Thanks
Andy
0 replies
Seller_ZVAz3d5lZuGid
You are still a business even if you are self-employed, so it is just a case of not Ltd anymore. You're right about SS - they will be useless I guess ! Others who are or have been Ltd, may be able to advise better than me.
Seller_SnuCWrfrCaFmh
It's easy enough to do if you know how.
Go to...
Settings > Account info > Business information > Transfer account
I've done it before (Ltd to Sole Trader) and it's pretty straight forward.
Be prepared to have to re verify everything as on Amazons side it is transferring to a new entity even though in reality it is yourself, this can take some time, it was 3 days when I did it but I have seen others take much longer.
Make sure you fill in the new details EXACTLY as they appear on your supporting documents to make the process as smooth as possible and reduce the chances of being asked for further things.
I hope this helps
Seller_s0q4eT0IHyb5N
Thanks @MiTrad . My biggest concern - what bank accounts does it require? As a self-employed entity, I just have bank accounts in my name. For the business side, obviously, its always been in the company's name. Will they accept non-business bank accounts?
Julia_Amzn
Hello @Seller_s0q4eT0IHyb5N, thank you for reaching out. I will transfer your thread to the Account Health category, where my colleagues will provide further support.
All the best!
Julia.
