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    endsim's Avatar
    endsim Posts: 1, Reputation: 1
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    #1

    Jan 20, 2010, 10:37 AM
    Keeping a business bank account after my corp is dissolved
    I opened a chase bank business account with a tax ID number. I'm dissolving my corp but I want to keep the bank account. Do I have to tell the bank that my tax id number is no longer valid? Does it matter?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jan 22, 2010, 02:26 AM

    Yes it matters. If they have anything to report (such as interest to the IRA), they'll be reporting it under the wrong ID. Business accounts are also generally more expensive, and just different. You can check whether they'll simply switch it over to a personal account with your name, though I don't know if that'll be any easier than just opening a new account.
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