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MODULE 1: LENDER COMPLIANCE
Step 1:3 Choose Verify and UpdateYour Business Address
Position your business for lender compliance and funding success.
Step 1.1: Establish Your Legal Business Entity
Register your LLC, Corporation, or other structure with the appropriate state agency.
Step 1.2: Choose a Professional Business Address
Select a physical or virtual address that meets lender and credit bureau standards.
Step 1.3: Verify & Update Your Business Address Listings
Ensure your business address is consistently listed across all directories and agencies.
Step 1.4: Set Up a Dedicated Business Phone & Fax
Obtain a separate business phone number and optional fax line registered in your
company name.
Step 1.5: Launch Your Business Website & Email
Create a professional website and domain-based email (e.g., info@yourbusiness.com).
Step 1.6: Secure Your EIN & Required Licenses
Apply for your Employer Identification Number and obtain any necessary local or state
licenses.
Step 1.7: Open a Business Bank Account
Set up a bank account in your business name to manage finances and build credibility.
Step 1.8: Confirm Consistency Across All Business Listings
Double-check that your business name, address, phone, and other details match across all
platforms.
How and Why to Update Your Business Address
Whether you're moving to a new location, setting up a virtual office, or expanding into another state, updating your business address is more than just changing where your mail goes—it’s a legal and strategic move that protects your business and keeps you compliant.
Why It Matters
Your business address appears on key documents like your EIN letter, tax filings, and state registrations. If it’s outdated, you could miss important notices, delay funding opportunities, or fall out of compliance with local laws.
What Counts as a Business Address?
There are two types:
• Physical Business Location – where your business operates
• Mailing Address – where official correspondence is sent
If either changes, especially when moving from a home address to a virtual office or commercial space, both need to be updated. Moving to a New State?
If your business is incorporated in one state but starts operating in another, you’ll need to file a certificate of authority to register as a foreign entity. For example, a business formed in Texas that begins operating in California must register with California’s Secretary of State.
🧾 Federal Updates: IRS & EIN Letter
To update your address with the IRS:
• File Form 8822-B
• Make sure your EIN letter reflects the new address—this is crucial for funding applications and official verification
🏛️ State & Local Updates
Don’t forget to:
• Update your business filings with the state agency that handles business registrations
• Notify local tax authorities to ensure proper reporting and avoid penalties
✅ Quick Checklist
• [ ] File IRS Form 8822-B
• [ ] Update your EIN letter
• [ ] File a certificate of authority if operating in a new state
• [ ] Update records with state and local tax agencies
Keeping your business address current isn’t just paperwork—it’s part of building a credible, compliant, and fundable business. Want help turning this into a video or visual guide? I can help with that too.