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Operator guideThree 30-day windows matter: 83(b) elections, BOI filings, and the practical setup that opens up everything else.
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Founder + operator guide

First 30 days. Critical action items.

The first 30 days after incorporation are the most consequential. Three deadlines matter: EIN (no specific deadline but blocks everything downstream), 83(b) election (30 days from grant of restricted stock), and BOI (30 days from formation for new entities). Plus the foundational actions: bank account, bylaws/OA adoption, founder stock issuance, initial resolutions. This guide walks through the specific actions.

Key facts

Start here.

Key fact
83(b) election

30-day window from grant of restricted stock. Missing it = six-figure mistake if stock appreciates.

Key fact
BOI filing

30-day window for entities formed 2024+. Penalty $500/day.

Key fact
EIN

No deadline; blocks bank account opening and downstream actions. File ASAP.

Key fact
Founder stock + IP assignment

Issue at incorporation; tied to 83(b) timing.

Key fact
Bank account

Required for liability shield (no commingling).

In depth

The full picture.

01

Day 1-3: Apply for EIN

US founders with SSN: apply online at irs.gov/EIN. Same-day issuance. Foreign founders: file paper Form SS-4 by fax. Typical 1-3 weeks.

02

Day 1-5: Issue Founder Stock

Stock Purchase Agreements signed. Each founder pays par value (e.g., $0.0001/share) for their shares. Track in cap table.

03

Day 1-30: File 83(b) Elections

Within 30 days of receiving restricted stock. File with IRS Service Center where you would file your tax return. Mail certified return receipt. Keep copy and proof of mailing.

04

Day 5-15: Open Business Bank Account

Documents needed: EIN letter, formation documents, IDs, operating agreement (LLC) or bylaws (corp). Mercury, Relay, or traditional banks.

05

Day 5-15: Adopt Bylaws / Operating Agreement

Adopt at first board meeting (corp) or in writing (LLC). Sign and store.

06

Day 5-15: File Initial Resolutions

Initial board resolutions (corp): bylaws adoption, officer election, stock issuance, banking authorization. Initial member resolutions (LLC): operating agreement adoption, manager appointment if applicable, banking authorization.

07

Day 5-30: File BOI with FinCEN

For entities formed 2024+: within 30 days of formation. Submit to FinCEN online. Penalty $500/day for non-compliance.

08

Day 10-30: IP Assignment

Founders assign all relevant pre-existing IP to entity. Built into Founder Stock Purchase Agreement or standalone.

09

Day 15-30: Initial Compliance

Sales tax registrations if selling taxable goods. State employer registrations if hiring. Industry-specific licenses.

10

Common 30-Day Mistakes

Skipping 83(b) (30-day window cannot be extended). Skipping BOI (penalties accrue daily). Operating without business bank account. Founder stock issued without written Stock Purchase Agreement.

FAQ

Common questions.

What should I do right after incorporating?
In the first weeks, get your EIN, adopt an operating agreement or bylaws, open a business bank account, handle licenses and permits, set up bookkeeping, and calendar ongoing compliance, so the entity actually functions and stays protected. We flag the full checklist so nothing critical is skipped.
Why is the first 30 days important?
Because handling the essentials early, banking separation, governance, licenses, sets the business up to operate and preserves your liability protection, while delays create risk and disorganization. We flag the priorities so your first weeks establish a solid, protected foundation rather than leaving gaps.
Do I need an EIN right away?
Yes, early: your EIN is needed to open a bank account, hire, and file taxes, so obtaining it is one of the first steps. We obtain the EIN so the rest of your setup, especially banking, is not held up for lack of a business tax ID.
When should I open a business bank account?
Promptly: operating through your personal account, even briefly, undermines the separation that protects your liability shield, so a dedicated business account is an early priority. We flag this so your entity's separateness holds from the start.
Do I need an operating agreement or bylaws first?
Early, yes: an operating agreement for an LLC or bylaws for a corporation govern the business and help preserve liability protection, so adopting them is part of the first steps. We provide the governance document so your entity is properly set up, not just registered.
What licenses do I need to handle early?
Depending on your industry and location, general, professional, industry, or local licenses may be required before you operate, so licensing belongs in the early setup. We flag the licenses your business needs so you are compliant from the day you open rather than scrambling later.
What ongoing compliance should I set up?
Calendar your state annual report, any franchise or state taxes, registered agent maintenance, and license renewals, since these recur and missing them risks penalties. We put your obligations on a compliance calendar so ongoing compliance is handled from the start.
Do I need to worry about BOI reporting?
It depends: under FinCEN's March 2025 rule, US-formed entities are exempt from beneficial ownership reporting, so many new businesses have no filing, while certain foreign entities still report. We flag your current BOI status so you neither miss a filing nor chase one you do not owe.
Can File.Business handle my post-formation setup?
Yes: beyond forming the entity, we obtain the EIN, provide the operating agreement and registered agent, flag licenses, and calendar your compliance, so your first weeks establish a complete, protected foundation rather than leaving essential setup undone.

Founder-ready foundation.

Form your entity, get the EIN, set up banking, manage the cap table, file BOI. All in one place.

Educational guide. Specific situations require professional legal and tax advice.

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