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Topic: Registering Investment Club as an LLC in PA
There is no benefit to registering as an LLC, only additional costs. TDAmeritrade will accept general partnership investment clubs as clients - at least here in NJ.
 
Ira Smilovitz
 
In a message dated 3/30/2012 2:24:02 P.M. Eastern Daylight Time, leovalencia10@gmail.com writes:
Greetings, I wonder if other members here are aware of any special requirements to register the Investment Club as an LLC in the state of Pennsylvania. I mean in addition to the normal requirements for a general purpose LLC.

The reason for this question is that talking to TD-Ameritrade, they told me that they get the account type information from the Secretary of State and they expect to see that the LLC is an investment club.

I'm puzzled as I don't see how we can tell the Secretary of State in PA that this is an special LLC (the certificate of operation form doesn't even ask that question).

Any help is greatly appreciated.
Thank you for the information. The only advantage at least in our case is the liability protection.

Still if anyone else has had any experience already with the state of PA any information would be greatly appreciated.

Regards,

-Leonardo Valencia
The document they may be referring to is the docketing statement, which does ask what is the general purpose of the LLC. This information is sent to the Department of Revenue though, and the corporation bureau does need to know what type of business the LLC engages in.

If you are looking to save money, and want to learn how to form an LLC in PA yourself, check out: www.LLCinPA.com

M-att