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What Should I Do if My Business Changes its Legal Structure or Ownership?

 

If your business undergoes a change in its legal structure or ownership, it’s crucial to update your SAM (System for Award Management) registration promptly to reflect these changes accurately. Accurate and up-to-date information is essential for maintaining eligibility for federal contracts, grants, and assistance programs. Here’s what you should do if your business experiences a change in its legal structure or ownership:

Change in Legal Structure:

  1. Log In to SAM: Begin by logging in to your SAM account using your username and password.
  2. Access Your Registration: Once logged in, navigate to the section of your SAM registration where you can update your organization’s information.
  3. Update Legal Structure: In the appropriate section, indicate the change in your business’s legal structure. Provide all required details about the new legal structure, including any legal name changes, tax identification numbers, and relevant documentation.
  4. Review and Confirm: Carefully review the updated information to ensure its accuracy.
  5. Certify and Submit: As part of the update process, you may be required to certify the accuracy of the information you’ve provided. Make this certification and submit the changes.
  6. Verification: SAM may conduct verification checks to confirm the accuracy of the changes related to your business’s legal structure.
  7. Confirmation: You should receive confirmation that your SAM registration has been updated to reflect the change in legal structure.

Change in Ownership:

If there is a change in ownership, you should follow a similar process as outlined above:

  1. Log In to SAM: Log in to your SAM account.
  2. Access Your Registration: Navigate to the section of your SAM registration where you can update your organization’s information.
  3. Update Ownership Information: Provide details about the change in ownership, including the names of new owners, their ownership percentages, and any documentation required to verify the change.
  4. Review and Confirm: Carefully review the updated ownership information to ensure its accuracy.
  5. Certify and Submit: Certify the accuracy of the information and submit the changes.
  6. Verification: SAM may conduct verification checks to confirm the accuracy of the changes related to ownership.
  7. Confirmation: You should receive confirmation that your SAM registration has been updated to reflect the change in ownership.

It’s important to update your SAM registration as soon as possible after a change in legal structure or ownership occurs. Delaying these updates can result in inaccurate information and may affect your organization’s eligibility for federal opportunities.

Additionally, be prepared to provide any necessary documentation to support the changes you are making in your SAM registration. Accurate and timely updates help ensure that your organization can continue to participate in federal contracts, grants, and assistance programs without interruptions.

 

Need Help?

Contact the FPR Help Desk through the following methods:

  • Phone: 1-866-717-5267 (toll-free)
  • Email:¬†help@federalprocessingregistry.com

Ready to Renew Your SAM?

Take the First Step by Clicking Below:
https://federalprocessingregistry.com/register-online/

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