How do I Change My Account from Business to Personal

[et820279]

When I opened my eBay account I believe I set it business not knowing the tax regulations involved. My business is brand new so I'm not registered yet and I have not yet reached $500 in sales so I don't have to register as a business. There for I want to change my account type for business to personal.  If anyone knows, please help. 

Thanks!

[sin-n-dex]

---

@lacemaker3 wrote:

---

@whattheactualfox wrote:

Ohhh Okay! So then my question is if I reach 500 in sales, will my personal account be converted into a business account?

---

@whattheactualfox, I don't think your account will be converted into a business account unless you change it.

With Managed Payments, the checking account you are using to receive payments has to match your eBay business type. Either both have to be business accounts, or both personal/individual accounts. So I don't think that eBay will just change your account type unilaterally.

---

Reading this I'm really glad I set up a business bank account a few years ago. I'm a sole proprietor in Canada and a business bank account is not required, I can do everything under my own name. Anyway this has saved me a lot of headache now that I'm changing to MP on Monday.

C.

[mam98031]

---

@whattheactualfox wrote:

Ohhh Okay! So then my question is if I reach 500 in sales, will my personal account be converted into a business account?

---

Mine never was.  I never gave a thought to whether my account was set up as a personal account or a Business account until a couple years ago and I've been here a long time.  So for me, I changed it to a Business account a couple years ago.  My account functions the same now as it did before I changed it.

@whattheactualfox 

[mam98031]

---

@whattheactualfox wrote:

From what OP is saying. Because next year the tax threshold changes. So I didn't know if that affects the type of ebay account we need 

---

@whattheactualfox 

Whether your account on Ebay is a Personal account or a Business account has nothing to do with the thresholds for a 1099K either state or federal.  ANY account that meets the thresholds set by a state or the federal government, a 1099K will be created.

[mam98031]

---

@lacemaker3 wrote:

---

@whattheactualfox wrote:

Ohhh Okay! So then my question is if I reach 500 in sales, will my personal account be converted into a business account?

---

@whattheactualfox, I don't think your account will be converted into a business account unless you change it.

With Managed Payments, the checking account you are using to receive payments has to match your eBay business type. Either both have to be business accounts, or both personal/individual accounts. So I don't think that eBay will just change your account type unilaterally.

Where does the 500 number come from?

---

Just for clarity here.  MP does NOT require a Business checking account to be attached to your MP account if your Ebay account is designated a Business account.  

What drives the need for a personal checking account or a business checking account is HOW the seller has their Ebay account set up for the NAME on the account, is it person or entity as the registered name.

If it is a Business name, then you need a Business checking account that matches the business name you have the account set up in Ebay for.

If it is a personal name, not a business name, the a personal checking account can be attached to your MP account as long as the two perfectly match.

[backa02]

Same here, I registered as a business account but  I decided to change it into a personal but it is not even editable, I could only edit my business name but not the type.

That's not handy!

[kh-vince]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread  if you wish to continue to discuss this topic.

Thank you for understanding.