If your business ownership structure has changed, you will need to contact us to add/remove Beneficial Owners and adjust ownership percentages as needed.
What documents are required to change ownership?
To update the ownership structure of your business in Relay, please contact our Customer Experience team with the following pieces of information about the new owner:
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Government-issued photo ID of the new owner
Accepted forms of ID include:- Passport
- Driver’s license (U.S. or non-U.S.)
- National ID card
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One of the following updated business documents:
- Amended Articles of Incorporation or Organization
- Updated corporate resolutions or meeting minutes
- Operating Agreement or Partnership Agreement reflecting the new ownership structure
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The updated agreement must include details for the new beneficial owner:
- Full legal name
- Date of birth (DOB)
- Residential address
- Social Security Number (SSN)
- Phone number
- Email address
If you’re ready to proceed, please contact Relay Support with the required documents, and we’ll guide you through the next steps.
Once this information has been provided to our team, we can go ahead and start the process of having this individual added.
Removing a Beneficial Owner
To remove an owner and adjust the ownership structure for a business in Relay, we will require the following:
- A document that clearly states the removal of a Beneficial Owner from the company and the amended ownership structure; and
- The removed Beneficial Owner must also email our Customer Experience team, confirming their removal from the company.
Adjusting ownership percentages
To adjust the ownership percentage of your company, please have all Beneficial Owners reach out in the same email to our team outlining the new ownership percentage, with documented proof of the new ownership structure. From there, our Customer Experience team can make the necessary adjustments for you!