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  1. #1
    Join Date
    Jul 2008
    Location
    NY
    Posts
    48

    Default Does a PLLC Need a New Bank Checking Account

    My question involves business law in the state of: New York
    I have a psychology practice in NYS and it has been a private practice for over a year. Recently, I applied for a PLLC from NYS, followed by obtaining an EIN number (I had been using my Social Security number as a private practitioner). Am I obligated to open a new checking account with the PLLC name on the checks, rather than using my present checking account which has my name followed by Psychologist? I would really rather not change checking accounts since most of the insurance companies do a direct deposit into my account and it could take them months before they update my new checking account information.
    Thank you for any advice.

  2. #2
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Does a Pllc Need a New Bank Checking Account

    No, you aren't "obligated" to get another account.

    But you wasted your time and money getting a PLLC if you don't keep it completely separate from your personal identity. Might as well dump it if you aren't willing to do it right.

  3. #3
    Join Date
    Jul 2008
    Location
    NY
    Posts
    48

    Default Re: Does a Pllc Need a New Bank Checking Account

    Thank you very much for responding so quickly. You're absolutely right - didn't think of it that way!

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