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Legal Name & Tax ID Update - DaySmart Payments via Stripe

Learn how to update your legal business name and Tax ID (TIN/EIN) on your DaySmart Payments via Stripe account.

Written by Stephanie

πŸ“ Overview

Learn how to update your legal business name and Tax ID (TIN/EIN) in the Stripe dashboard. Keeping this information accurate is essential for IRS verification, tax filing, and receiving payouts without interruption.


⭐ Before You Begin

Before making any updates, review the requirements below to ensure your information is entered correctly.

🏒 Legal Name

A business's legal name is the official, registered name used for taxes and legal documents. Every letter, punctuation, and space needs to match what is on the 147C or SS-4 for the business. Any differences in the legal name provided and the legal name on your documentation will cause verification issues.

πŸͺͺ Tax ID Number (TIN) / Employer Identification Number (EIN)

Having the correct tax ID on file is just as important as the correct legal name. This number is assigned by the IRS and used to identify your business for tax purposes.

β›” If the Legal Name or Tax ID provided is incorrect, the business will not be able to be verified with the IRS records, which may cause issues with your tax filing and receiving payouts.

If you cannot locate the business's 147C or SS-4, please reach out to the IRS at 1-800-829-4933.

πŸ‘€ Who Can Make These Changes?

Updating legal business information can only be completed by the business owner or a Team Member set as an admin in Stripe. To set up Team Members in Stripe, check out the article below:


βš™οΈ Steps to Update Legal Business Information

Learn how to update your legal name and Tax ID in the Stripe dashboard.

  1. Log in to Stripe

  2. Click on the settings icon in the upper right

  3. Under account settings, click the Business section

  4. Click the subheading Tax Details

πŸ“ Update Legal Business Name

  1. Locate the Legal Name line

  2. Type the business name in the box below

πŸ”’ Update Tax ID

  1. Locate the Employer Identification Number (EIN) line

  2. Click Edit next to the box below

  3. Type the tax ID in the box

  4. Scroll down to the bottom of the page and click Update in the bottom right


❓ Frequently Asked Questions (FAQs)

Find answers to common questions or additional details that may not be covered in the main instructions.

Click the arrow to view frequently asked questions

Why is my new tax ID unable to be verified?

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If the name of your US-based business or tax ID was updated with the IRS within the last 3 months, or if you are a new business registering for the first time, the IRS might not have updated its database with your new details yet. On average, this takes the IRS 3–4 weeks.

If your legal name and tax ID on file match the info on your SS-4 confirmation letter (for the new TINs issued within the last ~3 months) and Stripe is unable to verify it with IRS records, upload a copy of your letter to the Dashboard.

If you still have issues, please πŸ’¬ Contact Us and let us know the information was issued in the last 3 months, so we can notify Stripe.

Who is allowed to update legal business information?

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Only the business owner or a Team Member with admin permissions in Stripe can make these changes. If you need to grant another team member access, see the Add a Team Member article linked above.

Where can I get my 147C or SS-4 if I've lost them?

Click the arrow to view the answer

Contact the IRS directly at 1-800-829-4933 to request a copy.

Why does Stripe say my Tax ID and legal name combination is not recognized by the IRS?

What should I do if my newly-issued Tax ID (TIN) is not verifying in Stripe?

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πŸ’¬ Contact Us

Questions or issues on updating legal business information with Stripe? Contact us through our live chat option at the bottom right of this article or email us at βœ‰οΈ [email protected].

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