--- title: "LLC Corporate Formalities: Are They Needed and What Do I Do?" description: Discover the importance of LLC corporate formalities and learn what you need to do to maintain compliance with this informative blog. image: https://www.legalgps.com/hubfs/Imported_Blog_Media/person%20checking%20off%20a%20list.jpg --- 2 min read # LLC Corporate Formalities: Are They Needed and What Do I Do? LegalGPS : Feb. 26, 2025 LLC Corporate Formalities: Are They Needed and What Do I Do? 1:52 “Corporate formalities” and “LLC” don’t seem like they should be in the same sentence. Isn’t that one of the perks of [creating an LLC](https://www.legalgps.com/llc)? So, you don’t have to do those?  If you’re a [single-member LLC](https://www.legalgps.com/llc-operating-agreement/blog/3-reasons-why-your-single-member-llc-must-have-an-operating-agreement) in particular, it doesn’t matter too much (except you definitely should keep business and personal finances separate even if single-member-- we discuss this next).   ![person checking off a list](https://www.legalgps.com/hs-fs/hubfs/Imported_Blog_Media/76shICU55-CVUHcaSlLl4h9TfAy01zPLiLpsEuA_loqqI5FP_jnD3ZQleRZjDM6zRj8vB_wL9wt9nkQ8jhoAXXwqokoT-nlNr1efsV-NMMAGixMnaqiPJ_aeICbLSEmM3yHJQtjmmqJ_sFXS1CL6Q8k-1.jpeg?width=595&height=396&name=76shICU55-CVUHcaSlLl4h9TfAy01zPLiLpsEuA_loqqI5FP_jnD3ZQleRZjDM6zRj8vB_wL9wt9nkQ8jhoAXXwqokoT-nlNr1efsV-NMMAGixMnaqiPJ_aeICbLSEmM3yHJQtjmmqJ_sFXS1CL6Q8k-1.jpeg)   ![Legal GPS Subscription](https://www.legalgps.com/hubfs/Imported%20sitepage%20images/Legal%20GPS%20Hero%20Image%204-1.avif) ## Legal GPS Subscription Protect your business with our complete legal subscription service, designed by top startup attorneys. - ✅ Complete Legal Toolkit - ✅ 100+ Editable Contracts - ✅ Affordable Legal Guidance - ✅ Custom Legal Status Report [![Subscribe Today](https://no-cache.hubspot.com/cta/default/21594562/27270ef7-5633-463f-9059-b51051fbbfdf.png)](https://cta-redirect.hubspot.com/cta/redirect/21594562/27270ef7-5633-463f-9059-b51051fbbfdf)[Learn more](https://www.legalgps.com/legal-gps-for-business)   ## Keep Business and Personal Finances Separate Every business should keep its finances and accounting separate from its personal accounts. Mixing your personal transactions with your business ones makes it easier for plaintiffs to sue you personally, in the event you actually get sued. It’s part of a concept called “Piercing the Corporate Veil.” To “pierce the corporate veil” basically means that if your company runs into legal trouble with another party and can’t pay a debt or judgment, the party suing you can “pierce your corporate veil” and pursue your personal assets. So, here are some easy ways to actually keep your finances separate: - Open a separate bank account for your business; - Use that debit card or a company credit card or company checks when paying for anything; and - If you need to take money out or put it in, that’s fine. Just withdraw or deposit from other bank accounts rather than paying off personal credit cards or charges with a business card and vice versa. ![image (15)](https://www.legalgps.com/hs-fs/hubfs/contractImage%20D.png?width=136&height=177&name=contractImage%20D.png) Attorney-Drafted LLC Operating Agreement Get a customizable, attorney-drafted LLC Operating Agreement built for legal protection. [Choose Agreement](https://www.legalgps.com/llc-operating-agreement) Trusted by 1,000+ businesses to safeguard their LLCs. ## LLC Resolutions You can also use LLC Resolutions to memorialize important business decisions.  If you make a decision with your partner that, per your operating agreement, would require a "vote," then open a Word or Google Doc, or use our template, and put this information in it: On the resolution you should include: - Company name - Date resolution is passed - Very specific, fact-based details of the issue - Signatures of the member or members who agreed to pass the resolution ## Do I need a business lawyer? The biggest question now is, "[When do I need to hire an attorney?](https://www.legalgps.com/when-to-hire-attorney)” For most businesses and in most cases, you don't need a lawyer to start your business. Instead, many business owners rely on Legal GPS Pro to help with legal issues. Legal GPS Pro is your [All-In-One Legal Toolkit for Businesses](https://www.legalgps.com/legal-gps-pro). Developed by top startup attorneys, Pro gives you access to 100+ expertly crafted templates including operating agreements, NDAs, and service agreements, and an interactive platform. All designed to protect your company and set it up for lasting success.   ![Legal GPS Subscription](https://www.legalgps.com/hubfs/Imported%20sitepage%20images/Legal%20GPS%20Hero%20Image%204-1.avif) ## Legal GPS Subscription Protect your business with our complete legal subscription service, designed by top startup attorneys. - ✅ Complete Legal Toolkit - ✅ 100+ Editable Contracts - ✅ Affordable Legal Guidance - ✅ Custom Legal Status Report [![Subscribe Today](https://no-cache.hubspot.com/cta/default/21594562/27270ef7-5633-463f-9059-b51051fbbfdf.png)](https://cta-redirect.hubspot.com/cta/redirect/21594562/27270ef7-5633-463f-9059-b51051fbbfdf)[Learn more ](https://www.legalgps.com/legal-gps-for-business)             Popular | Premium Template Single-use Template | Legal GPS Pro Unlimited Access, Best Value | | --- | --- | | - 📝 Custom Operating Agreement Templates for any LLC - ✔️ Simple to Use & Fully Editable | - 📝 100+ Premium Templates, including all Operating Agreements - ✔️ Personalized legal checkup for your LLC | | [ Choose Template ](https://www.legalgps.com/llc-operating-agreement) | [ Learn More ](https://www.legalgps.com/legal-gps-pro) | | Trusted by 1000+ businesses | |   **Table of Contents** [Keep Business and Personal Finances Separate](https://www.legalgps.com/llc-operating-agreement/blog/how-to-use-llc-corporate-formalities-template-included#A) [LLC Resolutions](https://www.legalgps.com/llc-operating-agreement/blog/how-to-use-llc-corporate-formalities-template-included#B) [Do I need a business lawyer?](https://www.legalgps.com/llc-operating-agreement/blog/how-to-use-llc-corporate-formalities-template-included#C) [![Mastering Partnership Operating Agreements with Legal GPS for a Successful Business Collaboration](https://www.legalgps.com/hubfs/partnership.jpg) ](https://www.legalgps.com/llc-operating-agreement/blog/mastering-partnership-operating-agreements) #### [Mastering Partnership Operating Agreements with Legal GPS for a Successful Business Collaboration](https://www.legalgps.com/llc-operating-agreement/blog/mastering-partnership-operating-agreements) [LegalGPS](https://www.legalgps.com/llc-operating-agreement/author/legalgps) : Aug. 28, 2024 Embarking on a business partnership presents both opportunities and challenges, requiring a strong legal foundation to foster success. A well-crafted... [Read More](https://www.legalgps.com/llc-operating-agreement/blog/mastering-partnership-operating-agreements) [![Deadlock Prevention: Crafting Dispute Resolution Clauses in Partnership Agreements](https://www.legalgps.com/hubfs/pexels-olly-3760514.jpg) ](https://www.legalgps.com/llc-operating-agreement/crafting-dispute-resolution-clauses) #### [Deadlock Prevention: Crafting Dispute Resolution Clauses in Partnership Agreements](https://www.legalgps.com/llc-operating-agreement/crafting-dispute-resolution-clauses) [LegalGPS](https://www.legalgps.com/llc-operating-agreement/author/legalgps) : Feb. 25, 2025 Running a business with a partner can be rewarding but also challenging. You share ideas, responsibilities, and profits. However, disagreements can... [Avoidable Mistakes](https://www.legalgps.com/llc-operating-agreement/tag/avoidable-mistakes) [Read More](https://www.legalgps.com/llc-operating-agreement/crafting-dispute-resolution-clauses) [![Remote Work Policies: Operating Agreement Updates for Distributed Teams](https://www.legalgps.com/hubfs/molly-the-cat-qP_ezdWEQEs-unsplash.jpg) ](https://www.legalgps.com/llc-operating-agreement/remote-work-policies) #### [Remote Work Policies: Operating Agreement Updates for Distributed Teams](https://www.legalgps.com/llc-operating-agreement/remote-work-policies) [LegalGPS](https://www.legalgps.com/llc-operating-agreement/author/legalgps) : Feb. 25, 2025 Remote work has become an integral part of many businesses. It offers flexibility and can lead to higher productivity. However, without the right... [Operating Agreement](https://www.legalgps.com/llc-operating-agreement/tag/operating-agreement) [Read More](https://www.legalgps.com/llc-operating-agreement/remote-work-policies) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "LegalGPS", "url" : "https://www.legalgps.com/llc-operating-agreement/author/legalgps" }, "dateModified" : "2025-02-26T18:40:00.518Z", "datePublished" : "2025-02-26T18:40:00.000Z", "headline" : "LLC Corporate Formalities: Are They Needed and What Do I Do?", "image" : [ "https://www.legalgps.com/hubfs/Imported_Blog_Media/person%20checking%20off%20a%20list.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.legalgps.com/llc-operating-agreement/blog/how-to-use-llc-corporate-formalities-template-included", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.legalgps.com/hubfs/GLOBAL%20Legal%20GPS%20Assets/Logos/Legal%20GPS%20Logo%20no%20icon.png" }, "name" : "Legal GPS, Inc." } } ```