What to Do After Forming Your LLC: A Post-Formation Checklist

Congratulations — your LLC is formed. Now what? The Certificate of Formation is just the beginning. Here's a checklist of everything you should do in the first 30–90 days to set your business up for success.

• Get your EIN — Apply free at irs.gov. You'll need it for everything else on this list.
• Create your operating agreement — Even if you're the only member. Keep it on file.
• Open a business bank account — Bring your Certificate of Formation and EIN. This is essential for maintaining your liability protection.
• Get a business debit card — Use it for all business purchases from day one.

• Set up bookkeeping software — QuickBooks Online is the industry standard. Start tracking income and expenses immediately.
• Evaluate an S-Corp election — If you expect to earn $40,000+ in net profit, talk to a tax advisor about filing Form 2553. The deadline is 75 days from formation.
• Get a business phone number — Keep business and personal calls separate.
• Register a domain and set up a business email — A professional email address (you@yourbusiness.com) builds credibility.
• Get any required business licenses — Check your city, county, and state requirements. Some industries require specific licenses or permits.

• Set up payroll — If you've elected S-Corp status, you must run payroll for yourself. If you have employees, set up payroll before the first paycheck.
• Get business insurance — At minimum, general liability insurance. Consider professional liability (E&O) if you provide professional services.
• Open a business credit card — Builds business credit and keeps expenses organized.
• Set up a retirement account — A SEP-IRA or Solo 401(k) reduces your tax bill and builds long-term wealth.
• Find a bookkeeper or accountant — The earlier you establish this relationship, the better.

• File your annual franchise tax report (Texas: due May 15 each year)
• Reconcile your books monthly
• Pay quarterly estimated taxes (April 15, June 16, September 15, January 15)
• Keep personal and business finances completely separate

The biggest mistake new LLC owners make is treating the LLC as a formality rather than a real business. Use the bank account, keep the books, file the reports. The liability protection only works if you maintain the separation.

For a deeper look at what proper LLC bookkeeping looks like, see our LLC bookkeeping guide. And once your LLC is generating $60,000+ in net income, use our S-Corp Salary Calculator to see whether an S-Corp election could save you thousands in self-employment tax each year.

• LLC Bookkeeping: What Every Owner Needs to Know
• 5 Common LLC Mistakes That Can Cost You Your Liability Protection
• How to Open a Business Bank Account for Your LLC
• S-Corp vs. LLC: Which Is Better for Your Taxes?
• Our Bookkeeping Services
• Contact Us

Need help getting your new LLC's finances set up correctly? The Gap ProAdvisors handles LLC formation, bookkeeping setup, and tax planning for new businesses. Contact us or pay for LLC setup online.