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LegalPro, Attorney
Category: Business Law
Satisfied Customers: 589
Experience:  33 years of legal experience, with an emphasis on small business organization.
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I am the Secretary of a 501 (c)(3) non-profit that is recognized

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I am the Secretary of a 501 (c)(3) non-profit that is recognized by the IRS. We are trying to open a brokerage account and I am told we need a "Resolution of Unincorporated Status." Is this different than the forms we submitted to the IRS? Is there a specific form I need to fill out? We have had our IRS status for 25 years and this is the first time this issue has arisen. Thank you.
Submitted: 7 years ago.
Category: Business Law
Expert:  LegalPro replied 7 years ago.
That sounds like a form specific to the brokerage firm. I don't identify it as an IRS status, but allow me to check your secretary of state's office just to make sure it's not one of theirs. I'll get back to you in a few minutes, but it sounds like a confusing corporate resolution requirement.
Expert:  LegalPro replied 7 years ago.
I hate to give you a cursory response for your generous question price, but there must be some type of confusion here. 'Unincorporated status' not only doesn't give me hits from your secretary of state's site, Google doesn't help us much either. I am assuming that your organization is incorporated as non-profit, and that the IRS has produced the customary 501 (c) (3) letter. The 'Resolution' sounds as though it would be a product of a directors' or shareholders' meeting, but I am not certain exactly what the brokerage firm is getting at. My advice would be to ask the firm if they could clarify their request, or whether they have a form for their need.

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