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Company or partnership withdrawals

This article is for those who intend to withdraw the funds directly into a business bank account. If you intend to withdraw the funds into a personal bank account, please see this article for more information. These instructions will also not apply to you if you have created a registered charity fundraiser.

Please note that the person who sets up withdrawals for an organisation must be a financial administrator for the business. 

This is someone who is authorised to handle finances on behalf of the organisation such as a treasurer, vice president or owner. 

You can add this person as the beneficiary by selecting "someone else" for "who will withdraw the funds?" in the withdrawal set-up process.

If you’re raising funds for a business and you aren’t associated with them, you’ll need to withdraw the funds into your personal bank account, then send them to the business outside of GoFundMe.

 

 

How to set up withdrawals for your organisation

Step 1:  Select "Withdraw" on your fundraiser dashboard

If you can't see the option to withdraw (shown below), you are probably a team member or have a registered charity fundraiser and are not in charge of withdrawals. 

CompPartWD_en-us.png

 

Step 2. Confirm your email

If you haven’t already done so, you will need to confirm your email address. Click here if you haven't received the verification email. 

Step 3. Verify your phone number

If you haven’t already done so,  you’ll be prompted to verify your phone number. This is an important security feature called Multi-Factor Authentication and it’s just one of the ways we are protecting your information. 

In some circumstances, it may also enable us to send you important reminders about your account, such as a notification that your withdrawals have not been set up correctly and so donations may be returned to donors.

NB: Enter the 5-digit code contained within the message and not the 6-digit number the code is sent from. 

If you are having trouble verifying your phone number, please see this article. 

Step 4: Select withdrawal type

This section asks whose bank account will receive the funds.  Let’s take a look at those options below:

If withdrawals are going to:

Then select: 

Then select:

"Who will withdraw the funds?"

"What type of entity withdrawal is right for you?"

An organisation’s bank account that you manage

NB: You must be a financial administrator of the organisation’s banking information 

Myself 

Company or Partnership (you can select either)

An organisation’s bank account that someone else you know manages

Someone Else**

Company or Partnership

 

**When someone other than the organiser is going to be responsible for withdrawing, we call them a beneficiary. They will be responsible for withdrawal steps 5 - 7. Before you select this option, make sure that this person: 

  • Meets the requirements to withdraw on behalf of the company (they are a beneficial owner or financial administrator)
  • Is prepared to take this on. While changing the beneficiary is an option, it requires consent from both you and  the original beneficiary. 

You can learn more about the beneficiary process here.

Step 5 - 7  will be completed by the beneficial owner or financial administrator of the account the money is going into.  If you have added a beneficiary, they will complete these steps.

Once you've selected "company or partnership" you will be taken to our payment partner’s portal, where you can complete the remaining steps. It might look a bit different than the GoFundMe page you were on before, but don’t worry, you’re in the right place.

Step 5. Add your company information

You will be required to enter the following information:

  • Legal name of the business as it appears on government forms
    • Please make sure to double-check this information, because the system automatically adds your campaign link as your business name
  • DBA (Doing Business As) name of the business, if applicable
  • Tax ID or applicable company number connected to the business (see below for details)
  • Business phone number and email address
  • Business address

Step 6. Add your organisation's bank details

You will be required to enter the following information:

  • Account number or IBAN (European accounts)
  • Routing number (US) or branch/sort code (European accounts)

Step 7. Add your personal information

Even though the funds are going to be transferred to an organisation’s bank account, you will be required to enter the following information to verify that you are authorised to make withdrawals on the organisation’s behalf:

  • Full first and last name (ensure that this name matches your identification)
  • Home address
  • Phone number
  • Date of birth
  • The last four digits of your SSN (US only)

Once these sections have been completed and verified, they will show up in green as "finished". If one does not display as "finished" but you have submitted the information, additional documents may need to be uploaded. Please check sections that say "incomplete" and see the next steps.

Potential Step 8. Upload documents for verification

Occasionally, our payment processor will need extra information to verify your organisation after you’ve set up your withdrawals. When this happens, you will receive an email with the subject line "Important Message from GoFundMe" and withdrawals will be paused until the necessary documents have been uploaded and verified. 

You can submit the requested information via this form.

Documents that may be required include, but are not limited to:

  • Government-issued ID for the beneficial owner
  • Copy of the organisation’s governmental registration, showing:
    • US - EIN or SSN for a sole proprietorship
    • UK/IE - Company number or roll number for a school
    • AU - Australian business number (AU)
    • IT - Codice fiscale
    • FR - Numéro SIRET
    • ES - Número de Identificación Fiscal
    • DE - Handelsregisternummer
    • NL - Kamer van Koophandel (KvK)
    • Articles of incorporation, articles of association, certificate of incorporation; must show the organisation’s registration number:
    • IRS 501(c) (3) determination letter (only applicable to US non-profit organisations) 
  • Bank statement for the organisation, showing:
    • Bank logo or bank letterhead (must be issued by the bank)
    • Organisation's name as the account holder
    • Bank account number entered in your GoFundMe account
    • Date of less than 3 months ago
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