Question: New EIN/bank account needed?

If we are changing from a PTA to a PTO, do we have to request a new EIN and bank account, or can we just use the ones we already have as a PTA?

Asked by threeeeput



Advice from PTO Today

Craig writes:
You do need a new EIN and bank account. Although in a practical sense your group really won't change when you become independent, in a legal sense you're closing your PTA and opening a PTO. The article Switching from PTA to PTO gives an overview of the process.

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