If the ownership of a business changes for any reason, the new owner needs to establish a new merchant account.
The payment section has a TIN validation which checks to see if your TIN matches the legal business name on the account as well as if the banking information is legitimate. It is very important that the TIN you are trying to enter is associated with the legal name on file with the IRS.
How to change your Legal name / How to Change your TIN
If the name listed here is NOT the Legal Business Name associated with your banking information, we will need to update that information for you, then you will have to re-validate your payment information.
In order to accomplish this, you must request in writing from the Primary Account Email registered to your Gateway account to update/change the business legal name to the CORRECT Legal Business Name associated with your banking information.