Use an accurate account of effective ownership and clearly identify any proposed future change.
Date the transition
Keep the executed agreement, conditions and relevant corporate records together. Do not present an expected closing as completed, or retain an old chart as current after ownership actually changes.
Prepare a chronological evidence trail: the origin of funds, account movement, currency conversion, escrow or purchase terms, invoices, lease commitments, business registration, licences, operating agreement, projections, market analysis, and staffing plan. Signed supplier quotes and purchase orders, the lease or letter of intent, incorporation and ownership records, licence applications, insurance binders, business bank statements, and receipts for equipment already bought. A hiring schedule with dates, job descriptions and wage assumptions tied to the revenue forecast, executed client contracts that justify the workload, and a funded account showing the payroll reserve exists. From the partner: several years of financial statements and business tax returns, current payroll showing employees, the main service contracts, state licences for the trade, the premises lease, vehicle and equipment lists, and the existing formation and ownership documents.