Old company information is used to activate Shopify Payment and Payout Account. Now, New company is taking over the operation of Shopify store. So, the following steps are executed.
- Deactivated Shopify Payment
- Changed the information of the new owner (phone number, address, name, billing information, etc.)
- Activated Shopify Payment
- Connected with bank information of the new owner.
- New Payout account shows the new bank account
Everythings looks good but how Shopify verify this new company information? I didn’t submit any documents of new company after change of store ownership. But, I only submitted SS-4, ID documents, etc. which are to be submitted at first time of creating Shopify Payment account. The new company does not have to submit any legal documents to Shopify? such as SS-4, ownership of the company, ID, statements, etc.
And, after the changes of the ownership, the company information of old company(SS-4, ownership information, ID copy, monthly statements) are to deleted?
Also, if the old company information still remains, then any issues on taxes on the sales?