How do I update my company’s ownership structure or operating agreement?

Changes to ownership or the operating agreement must follow your LLC’s governing documents and state rules. If you’re adding co-founders (new members), you’ll typically update your Operating Agreement to reflect the new members and ownership percentages. Depending on your state, you may also need to amend your Articles of Organization. From a tax perspective, some ownership changes may require additional IRS documentation to confirm your company is up to date after the change. For a Wyoming LLC specifically, member names and ownership percentages are not recorded on the Wyoming public record. Therefore, you do not need to file a state amendment solely to add, remove, or transfer a member. Instead, document the change in your Operating Agreement and other internal company records. If the responsible party for your EIN changes as a result of the ownership update, be sure to file IRS Form 8822-B to update the responsible-party information with the IRS. doola provides forms and guidance but does not legally execute ownership changes. Contact support to learn more. ### How to update your doola-provided Operating Agreement If your LLC Operating Agreement was provided by doola, you can update it internally without filing a state amendment, such as to correct details like a member’s legal name. Follow these steps: 1. Download the Operating Agreement from your doola dashboard. 2. Open the PDF document in any PDF editor. 3. Edit the affected fields to reflect the correct information. 4. Save the corrected copy of the Operating Agreement. 5. Re-sign the Certification of Members section to validate the changes. 6. Optionally, you may send the completed and updated Operating Agreement to doola support for upload to your dashboard records. This process allows you to keep your internal company documentation accurate without additional state filing when only internal details need correction.