Things to Think About When Moving Your Business
Moving a business can be a daunting task, whether you're relocating around the corner or across the country. To help streamline the process, we've compiled a list of important things to remember when moving your business. Additionally, with the introduction of the Corporate Transparency Act (CTA), it’s crucial to update your information with FinCEN (Financial Crimes Enforcement Network) to stay compliant.
Change Your Address with the Post Office
One of the first tasks on your checklist should be updating your address with the USPS. This ensures that all mail sent to your previous address will be forwarded to your new location. The USPS offers a convenient online service for updating your address, or you can do it in person at your local post office. For more details, you can review the USPS moving guide here.
Update Your Address with Your Registered Agent
Your Registered Agent acts as a critical liaison between your business and the Secretary of State. It's vital to update your address with them to receive essential correspondence, such as Franchise Tax and Registered Agent renewal notices. Failure to do so may result in missed deadlines and jeopardize your company's good standing status.
To update your address with Harvard Business Services, Inc.:
Log into your online account to update the address online
Call 800-345-2677 or 302-645-7400, Ext 6903.
Email mail@delawareinc.com with the updated information
Change Your Address with the IRS
Unlike the USPS, the IRS requires a separate change of address form to update your company's contact information. We offer a service to handle this filing for a small fee, saving you time and hassle. To use our IRS change of address service, contact our Mail Center via email at mail@delawareinc.com or call 800-345-2677 or 302-645-7400, Ext 6903.
Update Your Information with FinCEN under the Corporate Transparency Act
As part of the Corporate Transparency Act, businesses are now required to report beneficial ownership information to FinCEN. This includes address details about the individuals who own or control your company. It's crucial to update this information within the specified timelines to avoid penalties. While we do not provide a service for FinCEN filings, we recommend using www.FincenReport.com. They offer a convenient platform for companies to submit beneficial ownership information or updates (BOI) in accordance with the Corporate Transparency Act (CTA), making the process simple and efficient. Otherwise, the filing can be done through the FinCEN's Beneficial Ownership Information (BOI) reporting portal. Staying compliant with this regulation not only helps in legal matters but also ensures transparency in your business dealings.
Notify Your Bank
Ensure you update your address with your bank to avoid sensitive banking information being sent to your old address. This can often be done in person with valid ID. If you're moving to a new state, check if your current bank has a branch there; if not, you might consider switching banks. Different banks have different requirements for opening a new business account, so be prepared with necessary documents like your Certificate of Formation/Incorporation and EIN.
Relocating your business involves many moving parts, but staying organized and thorough can make the transition smoother. If you have any further questions or need assistance during your company's move, don't hesitate to contact our customer service representatives. We're here to help make your move as painless as possible. Call our mail team at 800-345-2677, ext. 6903, or 302-645-7400, email mail@delawareinc.com or live chat through https://www.delawareinc.com/
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such source’s content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.