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Elizabeth Prentice
Elizabeth Prentice, Attorney
Category: Business Law
Satisfied Customers: 174
Experience:  Legal counsel for multitude of businesses; Business Law Professor; Experience as In-House Counsel
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Sorry to bother you again but there are multiple shareholders.

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Sorry to bother you again but there are multiple shareholders. What forms do I file for withdrawing and transferring assets?
Thank you for requesting me. It is not a bother at all. When there are multiple shareholders, you do not have to fill out any forms. You merely have to comply internally with the Articles of Incorporation (and Operating Agreement - if there is one). These documents state how you may release or transfer your shares and if you will receive any money in exchange for their release. You must also submit a written notice of resignation to the corporation and remaining parties. The corporation will have to file any paperwork which removes you from the corporation as president or owner after you leave, not yourself. The corporation may file a statement of information, amended list of officers, certificate of amended stock, etc. If you are listed as the registered agent, you should file a withdrawal under form "Resignation of Agent for Service of Process," but only if you are the RA. You are not permitted to file anything else on behalf of the corporation with regards XXXXX XXXXX Further, you will merely transfer duties back the company and they will continue on their daily business. If you transfer any stock or assets, you will merely report that when you file your next set of individual tax returns next January.

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