This guide will help you update your bank account or navigate a legal entity change. Take a few minutes to read through it so you feel confident about what to expect and how to prepare.
Identify Your Situation
Situation | Path |
New bank account, same organization/ownership | Standard bank account update |
Organization sold, purchased, or merged | Legal Entity Name (LEN) change process is required |
Legal name or EIN changed with the IRS | LEN change process is required |
Bank account name doesn’t match legal entity on file | LEN change process is required |
NOTE: If you're unsure which applies to you, contact your Account Manager before making any changes.
Standard Bank Account Change (No Legal Entity Change)
This will need to be enabled by your Account Manager. To confirm that no changes have been made to the organization, be prepared to answer the following questions:
Did you recently obtain a new bank account for "XYZ Org"?
If yes, what was the reason for obtaining this new account?
What is the business name on the bank statement or check for this account?
Did the business sell, merge, or have different individuals who now own the organization?
If yes, what was the date of the change in ownership?
If yes, can you provide documentation of this change of ownership, such as a purchase agreement?
NOTE: For security purposes, a written confirmation from an additional Superuser will be needed. They will need to be added to the email or conversation.
Legal Entity Name (LEN) Change Process
If your organization has been sold, merged, had a name change, or had its EIN change, you must complete the LEN change process before any bank account can be updated.
This process is required when:
The organization has been sold or purchased.
The Legal Entity Name (LEN) has changed.
The EIN has changed.
A merger or acquisition has taken place.
The bank account name doesn't match the legal entity on file.
What happens next?
Your Account Manager opens a case.
Your Account Manager will submit a Payment Operations case in Salesforce on your behalf. You do not need to submit anything directly.
You'll receive a secure form.
A secure Formstack link will be sent to the designated contact on your account. This form collects information about the nature of the change and must be completed before anything else can proceed.
Submit supporting documentation.
Depending on your situation, you may be asked to provide:
A voided check or bank statement showing the legal entity name.
A purchase agreement or bill of sale (for ownership/sale changes).
An IRS or state documentation (for name or EIN changes).
A Letter of Explanation.
The letter should be on company letterhead.
It should explain the reason for the change being requested.
The letter should include:
The Previous Legal Entity name.
Last four of the Previous Legal Entity EIN or Business Number (Canada).
The New Legal Entity name.
Last four of the New Legal Entity EIN or Business Number (Canada).
Effective Date of Change - this is critical as this determines what entity pays the taxes before and after the date.
The letter should be signed by a Business Ownership.
Articles of Incorporation (new legal entity).
Articles of Incorporation (previous legal entity).
This is not needed unless this is a sale or purchase.
This can typically be pulled from the state’s website.
Payment Operations reviews your case.
SportsEngine's Payment Operations team will review all submitted documentation. All documentation must be verified — no manual overrides are allowed.
You're notified to update your account.
Once the case is complete, your Account Manager will notify you that it’s safe to log in and update your bank account information.
If this is a legal entity name change, you will also need to update your account information (legal entity name, DBA, EIN, etc.).
NOTE: The name on your bank account must match your Legal Entity Name and/or DBA on file with SportsEngine. A personal bank account cannot be used if your org is setup as a "company" and vice versa if your entity is setup as an "individual".
What to plan for?
During the transition, your bank account will be temporarily disconnected. While disconnected, online registrations and payment collection will not work for your members. This is expected and is part of the process.
To minimize disruption:
Plan the change during your organization’s off-season or low-registration period.
Notify your staff and members in advance that registration may be temporarily unavailable.
Avoid scheduling the change near a registration deadline or season kickoff.
After the Change is Complete
Once your new bank account is connected and verified:
Payment processing and payouts will resume to the new account.
Your registrations will be live again.
Any funds already collected will route to the new account.