Many businesses move to a new physical location or change their mailing address each year. If your business was one, the IRS wants you to file Form 8822-B to update your business information. You mail the form to the address on the bottom of the form. The form is available on the IRS website at Form 8822-B.
In addition, a business is required to file Form 8822-B to report any change to its “responsible party” within 60 days of the change. Any type of entity with an EIN (employer identification number) has the filing requirement. So, if you purchased a new business or changed the corporate officers, you may have a new “responsible person” and need to report. The definition of “Responsible Person” is in the instructions of Form SS-4.
For most entities, the “responsible party” is the person who has a level of control over, or entitlement to, the funds or assets in the entity that, as a practical matter, enables the individual, directly or indirectly, to control, manage or direct the entity and the disposition of its funds and assets. The “responsible party” can be (a) the principal officer, if the business is a corporation, (b) a general partner, if a partnership, (c) the owner of any entity that is disregarded as separate from its owner, or (d) a grantor, owner, or trustor, if a trust.
File Form 8822-B and keep the IRS up-to-date so you get all important IRS correspondence timely. If you have any questions on providing an how to update your business information, contact your Henry+Horne advisor
Melinda Nelson, CPA