Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.
ROBS Program Question: I am using your 401k Business Financing plan to purchase the assets of an existing online marketing firm with a good reputation in the industry. It is very important that I can use the name of the existing business. Should the new ROBS C-corporation be registered under the name of the business that I am buying?
Good question as many of our ROBS 401K clients use the ROBS Program to finance a business acquisition.
The first step of the process is forming a new C-corporation.
While the C-corporation won’t be able to be registered under the name of the existing business (since the name is already taken), you can work with your business tax/legal advisor(s) to ensure that the seller is obligated to take all steps to transfer the name as part of the sale (e.g. the ROBS C-corp could later change its name or adopt the name as a “DBA”).
