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Seller_supNjOLODEFec

Going from Sole Trader to LTD Company

Hi, been selling few years here and business is good (FBA).
My accountant has advised about changing to a LTD company.
Is this a straight forward move with Amazon as far as changing bank account details goes.
Is there likely to be a suspension while verification for new bank account takes place and if so how long can this take?
I get a lot of sales daily with a good stock in FBA and don’t want to impact this.

Regards
Rob

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5 replies
Tags:Bank account, Verification
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user profile
Seller_supNjOLODEFec

Going from Sole Trader to LTD Company

Hi, been selling few years here and business is good (FBA).
My accountant has advised about changing to a LTD company.
Is this a straight forward move with Amazon as far as changing bank account details goes.
Is there likely to be a suspension while verification for new bank account takes place and if so how long can this take?
I get a lot of sales daily with a good stock in FBA and don’t want to impact this.

Regards
Rob

Tags:Bank account, Verification
00
119 views
5 replies
Reply
5 replies
user profile
Seller_esvgLzKXw2YAl

That is a bit like asking how long is a piece of string to be honest.

It depends…

If you have all of the documentation ready etc and they are accepted, then it can be done relatively quickly.
But if there are any kind of issues, it can take weeks/months to get through.
Look through the forums, there are plenty of examples of this.

Pretty sure that you will be temporarily suspended from taking money out, but should still be able to sell.

00
user profile
Seller_VRrc1oLXIZ166

Hi Rob,

(Short version: It took me 4 months with no suspension.)

I have just gone through this process in the last 7 days. I found a lot of horror stories on the forums about this going wrong. For me however, the process took only 30 seconds to be accepted once I pressed the “go” button. So I will share the process I took.

I wrote to seller support initially expressing my wish to change to LTD status. They advised that I should not change any information before I wrote to seller-verification-enquiry@amazon.co.uk and tell them I wanted to do this.
I wrote to them in December and I’ll be honest it took them 4 months to reply to that email. That being said, they wrote back and told me to go ahead. I had already submitted all the information they require in that initial email. They only asked for the status of my Sole Trader entity.

I changed my information on my account when they gave the go ahead and the changes were accepted immediately. The bank details I changed after that and it took an hour to verify the accounts. You will have to wait 3 days before you can initiate any more disbursements after that.

Heres the response from seller central on information to provide:

"If you would like to change legal entity please contact the verification team directly and provide them with the following information:

1) Current Legal Entity (LE 1): (Current business)

Name if Legal Entity 1:
Country of Establishment :
Type of Legal Entity :
Registration Number of Legal Entity 1;
Registered business address for Legal Entity 1;
Beneficial Owner (shareholder) of Legal Entity 1 (if any) :
Reasons for the change of Legal Entity 1 :
Will Legal Entity 1 be dissolved? :

2) New Legal Entity 2: (New business)

Name of Legal entity 2:
Country of Establishment :
Registration Number of Legal Entity 2;
Registered business address for Legal Entity 2;
Type of Legal entity :
Shareholder of Legal Entity 2 (if any) :

Please write an email with your registered email address to : seller-verification-enquiry@amazon.co.uk

Once the verification team has accepted the request, they will request for more documents and information according to their procedure.

Verification team do not have an actual time frame for this process and it could take up to several months to finish the process. During the process, the account’s listings and disbursement status may be suspended for account verification reasons.

Note:

- Do not change any existing account information to the new legal entity until the change is approved. Editing the information may cause account suspension.
- Changing Legal Entity will require a long review period.
_- Once the Legal Entity has been approved for change, any update of the account information, any changes afterward will cause the account to be suspended no exception."

I’ve had issues switching my status over outside of Amazon. I am not sure on the book keeping side of this issue. I have sorted it out based on my accountants advice and thats the best option for anyone.

Hope this helps.

20
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user profile
Seller_supNjOLODEFec

Going from Sole Trader to LTD Company

Hi, been selling few years here and business is good (FBA).
My accountant has advised about changing to a LTD company.
Is this a straight forward move with Amazon as far as changing bank account details goes.
Is there likely to be a suspension while verification for new bank account takes place and if so how long can this take?
I get a lot of sales daily with a good stock in FBA and don’t want to impact this.

Regards
Rob

119 views
5 replies
Tags:Bank account, Verification
00
Reply
user profile
Seller_supNjOLODEFec

Going from Sole Trader to LTD Company

Hi, been selling few years here and business is good (FBA).
My accountant has advised about changing to a LTD company.
Is this a straight forward move with Amazon as far as changing bank account details goes.
Is there likely to be a suspension while verification for new bank account takes place and if so how long can this take?
I get a lot of sales daily with a good stock in FBA and don’t want to impact this.

Regards
Rob

Tags:Bank account, Verification
00
119 views
5 replies
Reply
user profile

Going from Sole Trader to LTD Company

by Seller_supNjOLODEFec

Hi, been selling few years here and business is good (FBA).
My accountant has advised about changing to a LTD company.
Is this a straight forward move with Amazon as far as changing bank account details goes.
Is there likely to be a suspension while verification for new bank account takes place and if so how long can this take?
I get a lot of sales daily with a good stock in FBA and don’t want to impact this.

Regards
Rob

Tags:Bank account, Verification
00
119 views
5 replies
Reply
5 replies
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user profile
Seller_esvgLzKXw2YAl

That is a bit like asking how long is a piece of string to be honest.

It depends…

If you have all of the documentation ready etc and they are accepted, then it can be done relatively quickly.
But if there are any kind of issues, it can take weeks/months to get through.
Look through the forums, there are plenty of examples of this.

Pretty sure that you will be temporarily suspended from taking money out, but should still be able to sell.

00
user profile
Seller_VRrc1oLXIZ166

Hi Rob,

(Short version: It took me 4 months with no suspension.)

I have just gone through this process in the last 7 days. I found a lot of horror stories on the forums about this going wrong. For me however, the process took only 30 seconds to be accepted once I pressed the “go” button. So I will share the process I took.

I wrote to seller support initially expressing my wish to change to LTD status. They advised that I should not change any information before I wrote to seller-verification-enquiry@amazon.co.uk and tell them I wanted to do this.
I wrote to them in December and I’ll be honest it took them 4 months to reply to that email. That being said, they wrote back and told me to go ahead. I had already submitted all the information they require in that initial email. They only asked for the status of my Sole Trader entity.

I changed my information on my account when they gave the go ahead and the changes were accepted immediately. The bank details I changed after that and it took an hour to verify the accounts. You will have to wait 3 days before you can initiate any more disbursements after that.

Heres the response from seller central on information to provide:

"If you would like to change legal entity please contact the verification team directly and provide them with the following information:

1) Current Legal Entity (LE 1): (Current business)

Name if Legal Entity 1:
Country of Establishment :
Type of Legal Entity :
Registration Number of Legal Entity 1;
Registered business address for Legal Entity 1;
Beneficial Owner (shareholder) of Legal Entity 1 (if any) :
Reasons for the change of Legal Entity 1 :
Will Legal Entity 1 be dissolved? :

2) New Legal Entity 2: (New business)

Name of Legal entity 2:
Country of Establishment :
Registration Number of Legal Entity 2;
Registered business address for Legal Entity 2;
Type of Legal entity :
Shareholder of Legal Entity 2 (if any) :

Please write an email with your registered email address to : seller-verification-enquiry@amazon.co.uk

Once the verification team has accepted the request, they will request for more documents and information according to their procedure.

Verification team do not have an actual time frame for this process and it could take up to several months to finish the process. During the process, the account’s listings and disbursement status may be suspended for account verification reasons.

Note:

- Do not change any existing account information to the new legal entity until the change is approved. Editing the information may cause account suspension.
- Changing Legal Entity will require a long review period.
_- Once the Legal Entity has been approved for change, any update of the account information, any changes afterward will cause the account to be suspended no exception."

I’ve had issues switching my status over outside of Amazon. I am not sure on the book keeping side of this issue. I have sorted it out based on my accountants advice and thats the best option for anyone.

Hope this helps.

20
Follow this discussion to be notified of new activity
user profile
Seller_esvgLzKXw2YAl

That is a bit like asking how long is a piece of string to be honest.

It depends…

If you have all of the documentation ready etc and they are accepted, then it can be done relatively quickly.
But if there are any kind of issues, it can take weeks/months to get through.
Look through the forums, there are plenty of examples of this.

Pretty sure that you will be temporarily suspended from taking money out, but should still be able to sell.

00
user profile
Seller_esvgLzKXw2YAl

That is a bit like asking how long is a piece of string to be honest.

It depends…

If you have all of the documentation ready etc and they are accepted, then it can be done relatively quickly.
But if there are any kind of issues, it can take weeks/months to get through.
Look through the forums, there are plenty of examples of this.

Pretty sure that you will be temporarily suspended from taking money out, but should still be able to sell.

00
Reply
user profile
Seller_VRrc1oLXIZ166

Hi Rob,

(Short version: It took me 4 months with no suspension.)

I have just gone through this process in the last 7 days. I found a lot of horror stories on the forums about this going wrong. For me however, the process took only 30 seconds to be accepted once I pressed the “go” button. So I will share the process I took.

I wrote to seller support initially expressing my wish to change to LTD status. They advised that I should not change any information before I wrote to seller-verification-enquiry@amazon.co.uk and tell them I wanted to do this.
I wrote to them in December and I’ll be honest it took them 4 months to reply to that email. That being said, they wrote back and told me to go ahead. I had already submitted all the information they require in that initial email. They only asked for the status of my Sole Trader entity.

I changed my information on my account when they gave the go ahead and the changes were accepted immediately. The bank details I changed after that and it took an hour to verify the accounts. You will have to wait 3 days before you can initiate any more disbursements after that.

Heres the response from seller central on information to provide:

"If you would like to change legal entity please contact the verification team directly and provide them with the following information:

1) Current Legal Entity (LE 1): (Current business)

Name if Legal Entity 1:
Country of Establishment :
Type of Legal Entity :
Registration Number of Legal Entity 1;
Registered business address for Legal Entity 1;
Beneficial Owner (shareholder) of Legal Entity 1 (if any) :
Reasons for the change of Legal Entity 1 :
Will Legal Entity 1 be dissolved? :

2) New Legal Entity 2: (New business)

Name of Legal entity 2:
Country of Establishment :
Registration Number of Legal Entity 2;
Registered business address for Legal Entity 2;
Type of Legal entity :
Shareholder of Legal Entity 2 (if any) :

Please write an email with your registered email address to : seller-verification-enquiry@amazon.co.uk

Once the verification team has accepted the request, they will request for more documents and information according to their procedure.

Verification team do not have an actual time frame for this process and it could take up to several months to finish the process. During the process, the account’s listings and disbursement status may be suspended for account verification reasons.

Note:

- Do not change any existing account information to the new legal entity until the change is approved. Editing the information may cause account suspension.
- Changing Legal Entity will require a long review period.
_- Once the Legal Entity has been approved for change, any update of the account information, any changes afterward will cause the account to be suspended no exception."

I’ve had issues switching my status over outside of Amazon. I am not sure on the book keeping side of this issue. I have sorted it out based on my accountants advice and thats the best option for anyone.

Hope this helps.

20
user profile
Seller_VRrc1oLXIZ166

Hi Rob,

(Short version: It took me 4 months with no suspension.)

I have just gone through this process in the last 7 days. I found a lot of horror stories on the forums about this going wrong. For me however, the process took only 30 seconds to be accepted once I pressed the “go” button. So I will share the process I took.

I wrote to seller support initially expressing my wish to change to LTD status. They advised that I should not change any information before I wrote to seller-verification-enquiry@amazon.co.uk and tell them I wanted to do this.
I wrote to them in December and I’ll be honest it took them 4 months to reply to that email. That being said, they wrote back and told me to go ahead. I had already submitted all the information they require in that initial email. They only asked for the status of my Sole Trader entity.

I changed my information on my account when they gave the go ahead and the changes were accepted immediately. The bank details I changed after that and it took an hour to verify the accounts. You will have to wait 3 days before you can initiate any more disbursements after that.

Heres the response from seller central on information to provide:

"If you would like to change legal entity please contact the verification team directly and provide them with the following information:

1) Current Legal Entity (LE 1): (Current business)

Name if Legal Entity 1:
Country of Establishment :
Type of Legal Entity :
Registration Number of Legal Entity 1;
Registered business address for Legal Entity 1;
Beneficial Owner (shareholder) of Legal Entity 1 (if any) :
Reasons for the change of Legal Entity 1 :
Will Legal Entity 1 be dissolved? :

2) New Legal Entity 2: (New business)

Name of Legal entity 2:
Country of Establishment :
Registration Number of Legal Entity 2;
Registered business address for Legal Entity 2;
Type of Legal entity :
Shareholder of Legal Entity 2 (if any) :

Please write an email with your registered email address to : seller-verification-enquiry@amazon.co.uk

Once the verification team has accepted the request, they will request for more documents and information according to their procedure.

Verification team do not have an actual time frame for this process and it could take up to several months to finish the process. During the process, the account’s listings and disbursement status may be suspended for account verification reasons.

Note:

- Do not change any existing account information to the new legal entity until the change is approved. Editing the information may cause account suspension.
- Changing Legal Entity will require a long review period.
_- Once the Legal Entity has been approved for change, any update of the account information, any changes afterward will cause the account to be suspended no exception."

I’ve had issues switching my status over outside of Amazon. I am not sure on the book keeping side of this issue. I have sorted it out based on my accountants advice and thats the best option for anyone.

Hope this helps.

20
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