ROBS 401K Business Financing Program – What name should I use for my ROBS C-corp to buy a business?

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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”).

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About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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