To comply with banking regulations, Found is required to verify the business name and address associated with LLCs and Corporations. Sometimes we can’t confirm this automatically, and we’ll need you to provide documentation instead.

Below are some common reasons why automatic verification may fail, along with potential steps on how to resolve each issue.

Business name

Your legal business name is different from the one on file with Found

• Why this happens: Legal business names may not match due to typos, abbreviations, or other discrepancies.

• How to resolve: Submit documentation to Found showing your full legal business name. We accept:

  • A business registration document (e.g. Articles of Formation/Incorporation)

  • A screenshot from your state’s business search website

  • An IRS EIN verification letter (CP-575 or LTR-147C)

  • A “Doing Business As” (DBA) certificate

  • A signed Operating Agreement or Bylaws

Your business registration and EIN documents list different legal names

• Why this happens: When a business changes its legal name, the update must be filed with both the state and the IRS. If only one is updated, the names on the documents won’t match. 

• How to resolve: 

  • If your state record is outdated: File a name change request with your state’s business filing agency (e.g. Secretary of State). Once approved, submit official documentation to Found. We accept either:

    • A Certificate of Amendment, or

    • A screenshot from your state’s business search website

  • If your IRS record is outdated and your business structure changed (e.g. sole proprietorship to LLC): 

    • Apply for a new EIN for your LLC or Corporation.

    • Once completed, download the CP-575 EIN verification letter (PDF) and submit it to Found.

  • If your IRS record is outdated and you want to keep the same EIN: 

    • Send a signed letter to the IRS at the address where you file your business tax return. Include your EIN, old business name, new business name, and a copy of your state’s Certificate of Amendment that confirms the name change. 

    • After the IRS updates its records, call their Business & Specialty Tax Line at 1-800-829-4933 and request an LTR-147C verification letter. The IRS will send it via mail or fax – submit this letter to Found.

Business address

Your state doesn’t require or provide a business address

• Why this happens: Some states don’t require businesses to list a business address, or don’t provide us with the business address on record.

• How to resolve: Submit official documentation to Found that shows your business name and business address. We accept:

  • A business registration document (e.g. Articles of Formation/Incorporation)

  • A screenshot from your state’s business search website

  • An IRS EIN verification letter (CP-575 or LTR-147C)

  • A recent utility bill, bank statement, or lease agreement
    

Your business address changed since forming your business

• Why this happens: When a business changes addresses, the update may not appear on official state records.

• How to resolve: If needed, notify your state’s business filing agency (e.g. Secretary of State) of the address change. Submit documentation to Found that shows your business name and current business address. We accept:

  • A business registration document (e.g. Articles of Formation/Incorporation)

  • A screenshot from your state’s business search website

  • An IRS EIN verification letter (CP-575 or LTR-147C)

  • A recent utility bill, bank statement, or lease agreement
    

The business address on your Found account is incorrect

• Why this happens: Customers may have provided a personal or outdated address, or forgot to include secondary address information (e.g. unit or suite number).

• How to resolve: Submit official documentation to Found that shows your business name and business address – we can then update your business address on file. We accept:

  • A business registration document (e.g. Articles of Formation/Incorporation)

  • A screenshot from your state’s business search website

  • An IRS EIN verification letter (CP-575 or LTR-147C)

  • A recent utility bill, bank statement, or lease agreement

  • If we need you to confirm or update a business address, you’ll see a prompt in the app.