If you are reading this, I will assume that you have gotten your LLC documents and as well as your EIN from the IRS. Now the next step is activating your stripe account.
Head over to www.stripe.com and sign up for an account! Before you start you will need a bank account from the USA and that is why PAYONEER is your best option. To get a local bank account that works with stripe. Sign up for PAYONEER and get your bank account.
After that, You can sign up on stripe, Once you sign up, You will arrive at your test dashboard! This should look like this
This is what your dashboard will look like, Now you can now click on activate account found on the left side. And you will need to fill in the information needed. These information is what you got from the LLC. I will guide you on how to do this.
Now, in the photo above, You need to select country. Leave it at the USA because that is what you used in the LLC. In the business address section, I mentioned you should get a US address in the first post. Please make sure that the address you use here is same as the one on the LLC. They must be the same. Now, In the type of business - Leave it in individual / Single member LLC. For the EIN. Enter the Ein you got from the LLC application. For the business web address please enter your shopify web address. Make sure all these information are true and correct! Now let us move on.
In the picture above, Select your business category such as health and beauty or fashion. Then describe your business. In the shipping time. Please select within 1 month, This is because you are a dropshipper and will give you time and save you dispute hassles.
Now in the Legal name section, Please use your real name as you used in the LLC. Then enter your US phone number as i mentioned, You can get yours using the 2ndline App. Then enter your DOB. Make sure all these information are correct!
Now i this part ( As in the photo above ) In the last 4 digit of your SSN - Since you are not a US person, Do not worry, Enter the last digit of your EIN - this will be fixed later. Then please enter same address as your EIN and LLC in the home address. Now, in the credit card statement. You can enter anything, This is how the customer will see your charge on their bank statement.
Now, this is your last JOB! Connecting your USA bank account for payout! Like i mentioned above, You will need a USA bank account in order to receive payments from stripe! Login to your Payoneer Dashboard. Then go to receive > Global payment service! You will see your routing number and your account number. Copy these and paste to stripe.
IMPORTANT WARNING - Do not sign up for payoneer with a USA address if you are not in the USA. Secondly, Make sure the name on your payoneer account matches the name on your stripe account to be able to receive your funds! This is important PLEASE!
Now, Once you have entered your account number and routing number, You can now submit application and your account is saved and activated.
PART 2. - CONNECTING SHOPIFY ACCOUNT TO STRIPE
Once you submit application, Your account will be activated and now you can start connecting with stripe. How do we do that. To connect that to your shopify. You login to your shopify admin. Settings > Payment providers. Go to accept credit cards and then select STRIPE. Then click on ACTIVATE.
Now, When you click on activate, You will be able to login your dashboard and connect an account! And BOOM! You can now start using stripe!
Now you can now start accepting payments!
SOLVING EIN PROBLEMS WITH STRIPE
After a few days you will be contacted by stripe, Telling you your business name and tax information is wrong. Do not worry. This is normal. Usually, New EIN takes 10 weeks to approve online or to be verified. Now this is how you solve it. The email normally looks like this.
To solve this issue, Send your EIN letter to stripe support as well as your LLC documents. They will ask you to provide a 147C letter from the IRS - Now, this is where you need extra work. This is what you do. In order to get the 147C letter. By the way, What is the 147C? - The information on a 147C letter documents how an individual or business entity is filed with the Internal Revenue Service (IRS), and should match the information on business tax returns and 1099-K forms. The best way to request a147C letter is to contact the IRS by phone at 1 (800) 829-4933.
Do not panic. I have the best way to solve this issue. Now what we need to do now is to call the IRS - 1-800-829-4933. You should be prepared to answer the questions about your LLC. Such as the address you used, The name on the LLC, your name. Now when you call the IRS, You should call them from the US number you used in registration. That is why i recommend you get your number from 2nd Line app. Because you can call US and Canadian numbers for free. Now when you call the IRS, select the EIN section and speak with an agent. When someone comes on, Tell them you are calling because you want to get your 147C letter. After those questions i mentioned. The operator will ask you, How do you want to receive it. You have the option to receive it on the registered address and that might take days! And your stripe account will be locked. Tell the operator you want it by FAX. Ok, Now big problem. You are not in the USA but how do you get a fax number.
Get your android phone. Go to google play store and download a US FAX app. The app will give you a US fax number. Some of them comes on a free trial for 7 days. It is fine because you just need to download the PDF and you can uninstall it. Now that you have your fax number. You are ready to call IRS! Provide your fax number and get your 147C. The photo below shows how the 147C faxed will look like.
After you finish the call and they send you the fax, You will receive it on your phone via the App! Now you can download the PDF and send to stripe support! Once you provide this letter! Your account will be verified!
Hope this help!
SO DOES IT WORK? - YES IT WORKS FINE.
You can receive your payments on stripe and stripe will payout to you in 2 days. Please note that your 1st payment will take up to 7 days! After that you have 2 days and you get your money.