Transferring ownership of your Triib account isn't as scary as it sounds. The team is here to help every step of the way, please review this article and reach out to us to get the process started.
This article describes the process when the new owner will have access to all the previous financial data and member information. Both the current and new owners must confirm the change and Triib cannot proceed until a confirmation is complete.
⭐️ ALL OWNERSHIP CHANGES MUST BE SUBMITTED TO TRIIB ⭐️
EIN and Legal Business Entity Changes
Before any changes can take place, Triib needs written confirmation of the change from both the previous and new/current owner.
Step One: complete the ownership transfer request form.
Step Two: Triib will disconnect the merchant account, deposit bank account, and credit card for your Triib account.
Step Three: The new owner(s) are required to set up their merchant account, the credit card for Triib subscription, and to sign the Triib Terms of Service. Triib will send detailed instructions regarding this step. ❗️ Note: The merchant account/bank account can not be set up until the day before deposits are to go to the new owner. ❗️
Step Four: Triib will send a confirmation email once the change is complete.
No Change to EIN or Legal Entity
If the EIN, business type, or legal entity will not change...
Step One: complete ownership transfer request form.
Step Two: the new owners must update the Stripe Merchant Account through Triib. They may be asked to upload identity verification documents. This is a vital step to ensure 1099s are sent to the correct person/company at the end of the year.
Step Three: The new owner(s) must update the Deposit Bank Account in order for deposits to go to the new owner(s) after the sale of the business.
Step Four: Triib will make an update that requires a new signature on the Terms of Service and credit card for Triib subscription payments.
Step Five: Triib will send a confirmation email once the change is complete.