The legal entity on record for your fiscally sponsored project can be changed at anytime. We require the new legal entity's information to be sent to us at email@example.com. We will then issue an amendment to our grant agreement. This form must be signed by an authorized representative for the old and new entities. Fractured Atlas will sign the form and edit the legal entity on file accordingly.
Please note that all funds released throughout a calendar year will be reported for the legal entity we have on file on December 31 of the tax year. We are not able to issue multiple 1099s for one project, even if a legal entity changes part-way through the year. Please plan accordingly.
We require the below information in order to update the legal entity:
- Legal name of the new entity
- New tax ID (EIN or SSN)
- Name of the legal signatory for the new entity
- Entity type (Corporation, LLC, Individual/Sole Proprietor, Informal entity w/ EIN)
Things to be Aware of:
- All entities must be updated by the second week of December in order for the 1099 issued for that current calendar year to reflect the new entity's information.
- See Changing the Legal Entity Associated with Your Project for more information.