What are the legal procedures and documents required in order to transfer funds from my business account to my personal account?
What are the legal procedures and documents required in order to transfer funds from my business account to my personal account?
user
The legal procedures and documents needed to transfer funds from a business account to a personal account depends on the banking policies of the bank. In general, there is usually no problem transferring funds as long as all the requirements for your business account and personal are met including providing proper identification, legal entity documentation, signature authorization, ect. It is important to check with your financial institution before attempting any transfers. Additionally, some banks may require you to complete forms such as Funds Transfer Request Forms or Account Transfer Orders or provide written approval of the transfer.
assistant
What are the legal procedures and documents required in order to transfer funds from my business account to my personal account?
user
To transfer funds from a business account to a personal account, you will need to have the following legal procedures and documents in place:
-A signed authorization form from the company authorizing the transfer of funds
-A letter of explanation detailing why the transfer is being made 
-Form W-9 (Request for Taxpayer Identification Number) or Form W-8BEN (Certificate of Foreign Status) filled out by the recipient for IRS records 
-If your business is based in California, you must also file a form CA Form BOE–508 (Exempt Organization Payment System) with the California Franchise Tax Board. 
Once these legal procedures and documents are set up, you will then need to follow your bank’s established procedures for initiating transfers between accounts.
assistant