Q&A

New EIN/bank account needed?

If we are changing from a PTA to a PTO, do we have to request a new EIN and bank account, or can we just use the ones we already have as a PTA?
- threeeeput

You do need a new EIN and bank account. Although in a practical sense your group really won't change when you become independent, in a legal sense you're closing your PTA and opening a PTO. The article Switching from PTA to PTO gives an overview of the process.
- Craig
Links in this post:

Switching from PTA to PTO: https:/classic.ptotoday.com//pto-today-articles/article/864-switching-from-pta-to-pto