You’re operating as a sole proprietorship.
You’re making money. Clients are happy. Business is growing.
But every day, your personal assets are at risk. Your home. Your savings. Your future.
You know you need protection. But you’re busy. You don’t have time for a complicated process.
You can add a liability shield in 14 days.
This guide shows you exactly how. Step-by-step. Day-by-day. From informal operations to a properly protected legal entity.
No business interruption. No complicated process. Just protection.
Read this. Follow the steps. Protect yourself in two weeks.
Key Takeaways
- You can form an LLC in 14 days without interrupting your business operations—most tasks can be done in parallel
- The process involves: choosing structure, filing formation, getting EIN, creating operating agreement, and setting up separate accounts
- Using expedited processing (1-3 days) speeds up formation, allowing you to complete setup faster
- Separating business and personal finances immediately after formation is critical to maintaining liability protection
- You can continue operating your business throughout the formation process—there's no need to shut down
Table of Contents
Why 14 Days?
Most founders think formation takes months. They’re wrong.
With the right plan, you can go from sole proprietorship to protected LLC in 14 days.
The timeline:
- Days 1-2: Research and preparation
- Days 3-4: File formation (with expedited processing)
- Days 5-7: Get EIN, create operating agreement
- Days 8-10: Set up business banking, separate finances
- Days 11-14: Finalize setup, maintain protection
Why this works:
- Expedited processing (1-3 days) instead of standard (5-10 days)
- Parallel work: prepare everything while formation processes
- Focused action: dedicated time each day
- No business interruption: continue operating throughout
The result: Full liability protection in two weeks.
What You’ll Accomplish
By day 14, you’ll have:
✅ Formed your LLC (or Corporation if that’s your choice) ✅ Received your EIN from the IRS ✅ Created your operating agreement (or bylaws) ✅ Opened a business bank account ✅ Separated business and personal finances ✅ Set up proper record-keeping ✅ Protected your personal assets
Your business will be:
- Legally protected from liability
- Properly structured for growth
- Ready for professional relationships
- Positioned for long-term success
You’ll still be operating. No interruption. No downtime. Just protection.
Day 1-2: Foundation
Goal: Make key decisions and gather information.
Day 1: Choose Your Structure
Task: Decide between LLC and Corporation.
For most solo founders: LLC is the best choice.
- Liability protection
- Tax flexibility
- Less complexity
- Easy to maintain
For businesses planning major growth: Corporation may be better.
- Attractive to investors
- Can issue stock
- Standard for venture capital
Resources:
Time required: 1-2 hours
Day 1: Choose Your Business Name
Task: Select and verify your business name.
Steps:
- Brainstorm name options
- Check name availability in your state
- Verify no trademark conflicts
- Choose your name
Resources:
- Your state’s business search tool (see State Checklist)
- Secretary of State Directory
Time required: 1-2 hours
Day 2: Choose Your Registered Agent
Task: Select your registered agent.
Options:
- Professional service: Reliable, handles compliance, protects privacy
- Yourself: Cheaper but less reliable, exposes your address
Recommendation: Professional registered agent service for reliability and privacy.
Resources:
Time required: 30 minutes
Day 2: Gather Required Information
Task: Collect all information needed for formation.
Information needed:
- Business name
- Business address
- Registered agent information
- Business purpose (usually simple description)
- Management structure (member-managed or manager-managed for LLC)
Resources:
Time required: 1-2 hours
Pro tip: Complete all Day 1-2 tasks before moving to Day 3. Having everything ready makes filing faster.
Day 3-4: Formation
Goal: File your formation documents.
Day 3: Complete Formation Forms
Task: Fill out your Articles of Organization (LLC) or Articles of Incorporation (Corporation).
Steps:
- Access your state’s formation forms
- Fill out each field carefully
- Review for errors
- Have someone else review if possible
Common fields:
- Business name
- Business address
- Registered agent name and address
- Business purpose
- Management structure
Resources:
Time required: 2-3 hours
Day 4: File Formation (Use Expedited)
Task: Submit your formation documents with expedited processing.
Why expedited:
- Standard processing: 5-10 business days
- Expedited processing: 1-3 business days
- Saves 1-2 weeks in the timeline
Steps:
- Review your forms one final time
- Submit with expedited processing option
- Pay filing fee + expedited fee
- Get confirmation and tracking information
- Set up status checking reminders
Filing tips:
- File early in the day (before 1 PM EST) for fastest processing
- File early in the week (Monday-Tuesday) for best results
- Keep all confirmation emails and receipts
Resources:
Time required: 1 hour
Pro tip: While waiting for approval (Days 5-7), start working on your operating agreement and other setup tasks. Don’t wait.
Day 5-7: Setup
Goal: Get your EIN and create your operating agreement.
Day 5: Get Your EIN
Task: Apply for your Employer Identification Number from the IRS.
When to apply: As soon as your formation is approved (or even before, using your business name).
Steps:
- Go to IRS.gov
- Complete online EIN application
- Receive EIN immediately
- Save EIN confirmation letter
- Add EIN to all business documents
Time required: 15 minutes
Pro tip: You can get your EIN the same day your formation is approved. Don’t wait.
Day 6-7: Create Operating Agreement
Task: Draft your operating agreement (LLC) or bylaws (Corporation).
Why it matters:
- Protects your liability shield
- Required by many banks and investors
- Defines ownership and management
- Prevents disputes
Key sections:
- Member information and ownership percentages
- Management structure
- Profit and loss distribution
- Decision-making processes
- Transfer of ownership rules
Resources:
- Operating agreement templates (many available online)
- Consider professional help for complex situations
Time required: 2-4 hours
Pro tip: Even single-member LLCs should have operating agreements. They protect your liability protection and are required by many banks.
Day 8-10: Protection
Goal: Separate business and personal finances.
Day 8: Open Business Bank Account
Task: Open a separate business bank account.
Why it’s critical:
- Maintains liability protection
- Required for proper record-keeping
- Professional appearance
- Easier tax preparation
What to bring:
- Formation documents (Articles of Organization/Incorporation)
- EIN confirmation letter
- Operating agreement or bylaws
- Personal identification
- Initial deposit
Steps:
- Research banks (online or traditional)
- Schedule appointment or apply online
- Bring all required documents
- Open account
- Get business debit card
Time required: 1-2 hours
Day 9: Transfer Business Finances
Task: Move all business transactions to the business account.
Steps:
- Transfer initial business funds to business account
- Set up business payment processing
- Update all business subscriptions and services
- Close or stop using personal account for business
- Set up business accounting software
Important: From this day forward, all business income and expenses go through the business account. Never mix personal and business finances.
Time required: 2-3 hours
Day 10: Set Up Record-Keeping
Task: Establish proper business record-keeping system.
What to set up:
- Business accounting software (QuickBooks, FreshBooks, etc.)
- Document organization system (digital or physical)
- Expense tracking system
- Income tracking system
Records to keep:
- Formation documents
- Operating agreement or bylaws
- EIN confirmation
- Bank statements
- Income and expense records
- Tax documents
- Contracts and agreements
Time required: 2-3 hours
Pro tip: Good record-keeping protects your liability shield. Courts can “pierce the corporate veil” if you don’t maintain proper records.
Day 11-14: Finalization
Goal: Complete final setup and ensure protection is maintained.
Day 11: Update Business Information
Task: Update all business information to reflect your new entity.
Updates needed:
- Business website and marketing materials
- Email signatures
- Business cards
- Social media profiles
- Online directories
- Client contracts and agreements
Time required: 2-3 hours
Day 12: Set Up Compliance Tracking
Task: Create a system to track compliance deadlines.
What to track:
- Annual report deadlines
- Franchise tax deadlines
- License renewal dates
- Registered agent updates
- Any state-specific requirements
Tools:
- Calendar reminders
- Compliance tracking software
- Professional registered agent service (handles this automatically)
Resources:
Time required: 1-2 hours
Day 13: Review and Verify
Task: Review everything to ensure protection is complete.
Checklist:
- ✅ Formation approved and documents received
- ✅ EIN obtained
- ✅ Operating agreement or bylaws created
- ✅ Business bank account opened
- ✅ Business and personal finances separated
- ✅ Record-keeping system established
- ✅ Compliance tracking set up
- ✅ Business information updated
Time required: 1 hour
Day 14: Celebrate and Maintain
Task: Celebrate your protection and commit to maintaining it.
You’ve accomplished:
- Formed your legal entity
- Protected your personal assets
- Set up proper business structure
- Positioned for growth
Going forward:
- Keep business and personal finances separate
- Maintain proper records
- Track compliance deadlines
- Review protection annually
Time required: 30 minutes (plus ongoing maintenance)
Maintaining Your Protection
Protection isn’t a one-time event. It requires ongoing maintenance.
Essential Practices
1. Separate Finances
- Never mix business and personal accounts
- Use business account for all business transactions
- Document any loans or contributions between personal and business
2. Proper Records
- Keep all business documents organized
- Maintain meeting minutes (if required)
- Update operating agreement or bylaws as needed
- Keep financial records current
3. Compliance
- File annual reports on time
- Pay franchise taxes (if applicable)
- Renew licenses and permits
- Update registered agent information when needed
4. Corporate Formalities
- Follow corporate formalities (meetings, minutes, etc.)
- Maintain proper corporate structure
- Don’t treat business as personal extension
Resources:
Pro tip: Professional registered agent service can help track compliance deadlines automatically. See our registered agent guide for details.
Faster Option: 7-Day Plan
Need protection faster? Here’s a compressed 7-day plan:
Day 1: Choose structure, name, registered agent Day 2: Complete and file formation (expedited) Day 3: Get EIN, start operating agreement Day 4: Formation approved, open bank account Day 5: Transfer finances, set up record-keeping Day 6: Update business information, set up compliance Day 7: Review and finalize
Requirements:
- Expedited processing (essential)
- Full-time focus on setup
- Simplified operating agreement
- Essential tasks only
Warning: 7-day plan is aggressive. You may sacrifice thoroughness for speed. Only use if absolutely necessary.
Your Action Plan
Today:
- Read this guide completely
- Set your 14-day timeline
- Block time in your calendar for each day’s tasks
- Gather any information you need
This Week (Days 1-7):
- Complete foundation tasks (structure, name, registered agent)
- File formation with expedited processing
- Get EIN
- Start operating agreement
Next Week (Days 8-14):
- Open business bank account
- Separate business and personal finances
- Set up record-keeping
- Finalize all setup tasks
Going Forward:
- Maintain separate finances
- Keep proper records
- Track compliance deadlines
- Review protection annually
Need help? Check out our complete formation guide, our state-by-state checklist, and our decision tree to get started.
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Sources & Additional Information
This timeline is based on typical processing times with expedited filing. Actual timelines may vary based on your state, business complexity, and individual circumstances.
For state-specific requirements, see our State-by-State Checklist.
For formation guidance, see our Ultimate Guide to Forming an LLC.
For help choosing the right structure, see our Decision Tree guide.
For information about maintaining protection, see our Compliance Mistakes guide.
