Your LLC is Formed — Now What? The Complete Checklist to Start Earning

Congratulations -- your Wyoming LLC is officially formed. You have your Certificate of Formation and Articles of Organization. Your registered agent is assigned. The state of Wyoming recognizes your business entity. This is a real accomplishment, and you should feel good about it.

But here is what most founders do not realize: forming the LLC is just step 1 of 7. The real work -- and the real opportunity -- starts now.

We have seen hundreds of Indian founders file their LLCs and then stall. They are not sure what to do next, in what order, or how long each step takes. Some wait weeks before applying for an EIN. Others open a bank account but never set up payment processing. A few get everything set up but miss critical compliance filings that cost them $25,000 in penalties.

This checklist walks you through every step from formation to your first paying US customer. It is organized by phase, by timeline, and by business type -- because a freelancer's next steps look very different from an e-commerce founder's.

Phase 1: EIN and US Bank Account (Week 1)

Step 1: LLC Formation -- Done

You are here. This step is complete. Here is what you should have in hand:

• Certificate of Formation from Wyoming Secretary of State
• Articles of Organization filed and approved
• Registered Agent assigned and active
• Operating Agreement -- the internal document that defines how your LLC operates

If you are missing any of these documents, stop here and get them sorted. Every subsequent step requires these as foundation documents. Your EIN application, bank account, and payment processing all depend on having clean formation documents.

Step 2: Get Your EIN (Tax ID)

Your EIN -- Employer Identification Number -- is your LLC's equivalent of a PAN number. It is a nine-digit number issued by the IRS that identifies your business for tax purposes. Without it, you cannot do almost anything.

Why you need it:

• Required to open any US bank account (Mercury, Relay, Wise)
• Required to activate Stripe, PayPal, or any payment processor
• Required for annual tax filings (Form 5472, pro-forma 1120)
• Required by clients who need to issue you a 1099 or request a W-8BEN-E
• Required by Amazon, Shopify, and virtually every US platform

How to get it: IRS Form SS-4. We handle this for our Business and Premium clients as part of the formation package.

Timeline: 3-5 business days after LLC formation.

Important: As a foreign owner (non-US person), you cannot apply for an EIN online. The IRS requires foreign applicants to submit Form SS-4 via fax or mail. This is where most DIY founders get stuck -- the online application rejects you, and you are left wondering what went wrong. This is normal. You need the fax route.

Step 3: Open a US Bank Account

You need a US bank account to receive USD payments, pay US expenses, and operate as a legitimate US entity. Without a US bank account, your LLC is a legal entity on paper but cannot function as a business in practice.

Best options for Indian founders:

• Mercury -- best for SaaS and tech companies. Clean interface, easy approval process, integrates directly with Stripe. This is our top recommendation for most founders.
• Relay -- great for e-commerce businesses. Supports multiple sub-accounts for different operations (inventory, marketing, payroll). Good alternative if Mercury does not work out.
• Wise Business -- good fallback option with multi-currency support. Lower approval bar than Mercury or Relay, but fewer features. Works well as a secondary account.

Required documents for any US bank application:

• LLC Certificate of Formation
• EIN Letter (IRS confirmation, CP 575 notice)
• Operating Agreement
• Valid Passport (Indian passport works)
• Proof of Address (utility bill, bank statement)

Timeline: 1-3 business days after receiving your EIN.

Pro tip: Apply to Mercury first. If rejected, try Relay. Keep Wise as your backup. Do not apply to all three simultaneously -- multiple applications at once can flag your profile. Space them out by a few days if needed.

Phase 2: Stripe, Payments, and Going Live (Week 2-3)

This is where the checklist splits. Your next steps depend entirely on what kind of business you are running. Find your business type below and follow the specific setup steps.

If You Are a Freelancer or Consultant

You sell your time and expertise to US clients. Your LLC gives you credibility, liability protection, and the ability to invoice in USD without the "international contractor" stigma.

• Set up invoicing -- FreshBooks, QuickBooks, or Wave all work with US LLCs. Configure your LLC name, EIN, and bank details in the invoicing software. Professional invoices build client trust.
• Prepare your W-8BEN-E form -- your US clients will request this for tax reporting. This form certifies your foreign status and determines whether withholding tax applies. Have it ready before your first client asks.
• Create a professional contract template -- use your LLC as the contracting entity, not your personal name. Include payment terms, scope of work, and intellectual property clauses. This is what separates a $50/hour freelancer from a $150/hour consultant.
• Set up ACH payments via Mercury -- ACH (bank-to-bank) transfers are how most US businesses pay contractors. Faster and cheaper than wire transfers. Give clients your Mercury routing and account numbers.
• Register on premium platforms -- Upwork, Toptal, and Fiverr all allow you to register with a US entity. This unlocks premium US client pools and higher rates. Your US LLC makes you a domestic contractor, not a foreign one.

If You Are Running E-Commerce (Shopify/Amazon)

You sell physical or digital products to US customers. Your LLC unlocks access to US marketplaces, payment processing, and shipping infrastructure.

• Activate Stripe -- connect your LLC + EIN + Mercury account to Stripe. This is your primary payment processor for Shopify stores. Stripe approval typically takes 1-2 business days with proper documentation.
• Set up Amazon Seller Central -- register with your US entity to unlock selling on Amazon.com. A US LLC with a US bank account gives you full access to the US marketplace, not the limited international seller experience.
• Configure Shopify Payments -- requires a US bank account. Once connected, you avoid the 2% transaction fee that Shopify charges for third-party payment gateways. This alone can save you thousands per year.
• Research sales tax obligations -- use TaxJar or Avalara to determine if you need to collect sales tax. This depends on where your customers are located and your sales volume. Wyoming has no state income tax, but sales tax nexus is a separate issue.
• Set up PayPal Business -- register with your US entity for an additional payment option. Some customers prefer PayPal, and offering it increases conversion rates.

If You Are a SaaS Founder

You are building a software product with recurring revenue. Your LLC is the entity that owns the product, receives subscription payments, and employs contractors.

• Set up Stripe -- connects directly to Mercury. Stripe is the default payment processor for SaaS companies. Configure it with your LLC's EIN and Mercury bank account.
• Configure Stripe Billing -- set up subscription plans, trial periods, and automated invoicing. Stripe Billing handles proration, upgrades, downgrades, and failed payment recovery automatically.
• Update your Terms of Service and Privacy Policy -- reflect your US LLC as the operating entity. Include your LLC's name, Wyoming registration, and contact details. This is not optional -- it is a legal requirement.
• Consider Stripe Atlas benefits -- you already have the LLC, so you do not need their formation service. But Stripe Atlas partners (Carta for cap table, AngelList for fundraising) can be valuable if you plan to raise funding.
• Set up accounting -- Xero or QuickBooks for US bookkeeping. Connect to Mercury for automatic transaction import. Clean books from day one make tax filing easier and cheaper.

If You Are a Content Creator

You monetize through ads, sponsorships, affiliate revenue, or digital products. Your LLC separates your personal identity from your business income and unlocks higher payment rates.

• Update Google AdSense -- register with your US entity for higher CPMs. US-based AdSense accounts typically earn 2-5x more per thousand impressions than Indian accounts for the same content.
• Set up PayPal Business -- most sponsors and affiliate programs pay through PayPal. A US PayPal Business account receives payments faster and with lower fees than international transfers.
• Create a professional media kit -- include your US business credentials. Brands pay more for creators who operate as legitimate business entities. Your LLC name on a media kit signals professionalism.
• Invoice sponsors through your LLC -- instead of receiving "payments to a person," issue professional invoices from your LLC. This builds credibility and often allows you to negotiate higher rates.
• Open a Wise account alongside Mercury -- for international payments from sponsors or affiliate networks that do not support US ACH. Wise handles multi-currency conversions efficiently.

If You Are in Import/Export

You trade physical goods between India and the US (or other countries). Your LLC serves as the US entity for customs, trade compliance, and supplier relationships.

• Register for a DUNS number -- free from Dun and Bradstreet. A DUNS number is a unique nine-digit identifier for your business, used by suppliers, government agencies, and trade partners to verify your entity.
• Set up trade compliance documentation -- depending on your product category, you may need import licenses, FDA registration, or FCC compliance. Research requirements before your first shipment.
• Open additional Relay sub-accounts -- separate accounts for different trade operations (supplier payments, customs duties, shipping costs). This makes bookkeeping cleaner and audit-ready.
• Research customs broker requirements -- for most product categories, you will need a licensed customs broker to clear goods through US Customs and Border Protection. Budget $150-500 per shipment for brokerage fees.
• Set up supplier payment channels -- configure Mercury wire transfers for international supplier payments. For Chinese suppliers, consider using Wise for CNY payments to get better exchange rates.

Phase 3: Annual Compliance (Form 5472, BOI, Reports)

This is where most founders fail. The excitement of formation and setup fades, and compliance becomes an afterthought. Do not let that happen. Missing a single filing can cost you $25,000 or dissolve your LLC entirely.

Annual Obligations -- Miss These and You Are in Trouble

We have written a comprehensive deep dive on every one of these filings, including what they are, how to file them, and what happens if you miss them. Read our full compliance guide here.

Bookkeeping from Day 1

This is not optional, and it is not something you can "figure out later." Clean financial records from day one are essential for tax filing, compliance, and the long-term health of your business.

• Keep US income and expenses separate -- do not mix your LLC's finances with personal accounts or Indian business accounts. This is the single most common mistake we see.
• Use QuickBooks or Xero connected to Mercury -- automatic transaction import means you never have to manually enter data. Both platforms generate the reports your CPA will need for Form 5472.
• Track every transaction -- even small ones. The $10 Stripe test charge, the $29 software subscription, the $100 initial deposit. The IRS wants to see all transactions between you and your LLC on Form 5472.
• Consider hiring a US-India tax specialist -- find a Chartered Accountant who understands both FEMA (India's foreign exchange regulations) and IRS requirements. This is a niche expertise, but it is critical for Indian founders operating US entities.

The Big Picture: Your Timeline

Here is the complete journey from formation to revenue, mapped out week by week:

Three weeks. That is the realistic timeline from LLC formation to your first paying customer. Not three months. Not "sometime later." Three weeks of focused, sequential steps -- each one building on the last.

The founders who succeed are the ones who treat this checklist as a sprint, not a marathon. They move from step to step without unnecessary delays. They do not overthink the bank account choice. They do not spend two weeks designing a logo before setting up Stripe. They get operational first, then optimize.

Common Mistakes Indian Founders Make After Formation

Over the past two years, we have seen the same mistakes repeatedly. Here are the ones that delay founders the most:

• Waiting weeks to apply for an EIN -- apply the day after your LLC is approved. Every day you wait is a day you cannot open a bank account or accept payments.
• Applying to all banks simultaneously -- this flags your applications. Start with Mercury, wait for a response, then try alternatives if needed.
• Ignoring compliance until tax season -- by then you have already missed deadlines. Set up calendar reminders the day your LLC is formed.
• Mixing personal and business finances -- this creates a bookkeeping nightmare and weakens your LLC's liability protection. Use your Mercury account exclusively for LLC transactions.
• Not having an Operating Agreement -- some banks and platforms require this document. Have it ready before you apply for anything.

The difference between a founder who is operational in three weeks and one who is still "setting things up" three months later is almost never about complexity. It is about sequence and momentum. Follow the steps in order, and each one unlocks the next.

What We Do Differently

This is exactly what we do at eXpressLLC. We do not just file your LLC and hand you a certificate. We walk you through every step on this checklist until you are operational and earning.

From formation to EIN to bank account to payment processing to compliance -- we are with you at every step. Our Business and Premium plans include EIN filing, registered agent service, compliance filings, and ongoing support. You do not need to figure out Form SS-4 fax procedures or Wyoming annual report deadlines. We handle it.

Most importantly, we do not disappear after formation. When your Mercury application needs a document we can provide it. When your Form 5472 is due we file it. When your Wyoming annual report deadline approaches we take care of it. That is the difference between a formation agent and a formation partner.