After over 40 years in business, we've answered a lot of questions from our clients. Today we're sharing our most frequently asked questions and their answers.
What can I use my registered agent's address for?
Your registered agent will accept and forward your annual report tax notices, all official documentation from the Secretary of State, as well as service of process.
With our mail forwarding service, you may use our address for business-related mail such as bank statements (though you are still required to provide the principal office address to the bank), government offices such as FAA, Coast Guard, IRS and other state qualifications or Fictitious Name Registrations (DBA’s).
Clients who are not subscribed to our mail forwarding services, may not use the address of The Incorporators Ltd. for anything other than correspondence with the State of Delaware and receipt of service of process.
How do I change the name of my corporation or LLC?
In order to change the name of your LLC or corporation with the State of Delaware, you'll have to file a document called an amendment. An amendment is a document that makes a change to your existing articles of formation (LLC) or incorporation (corporation).
When you file an amendment and it is approved by the State of Delaware, you receive a file-stamped copy back as evidence of the completed filing.
Need more detail? Here's how to change the name of your corporation or LLC.
What's the difference between the types of partnerships?
There are three types of partnerships:
- general partnership
- limited partnership
- limited liability partnership
General partnerships are the original type of partnership. A general partner is considered the owner of the partnership. General partners are actively involved in the management of the partnership and can make decisions on the company's behalf.
Limited Partnerships are formed when a partner is an investor in a business but is not involved in day-to-day operations. The general partner is responsible for the management of the partnership and the limited partner is generally an investor only. Limited partners are often referred to as silent partners.
Limited liability partnerships are the most common choice for professionals including attorneys, accountants, doctors, dentists, and other businesses that fall into the professional category.
Learn more about the difference between the types of partnerships here.
What do I need to prove the existence of my company?
This question may be the one that causes the most confusion. This is because each state calls the document that confirms the existence of a company (kind of like the company's birth certificate) something slightly different.
Depending on where your entity was formed and what type of entity it is, this document may be called several different things. This document might be called:
- Certificate of Formation
- Articles of Organization
- Certificate of Organization
- Articles of Formation
- Company formation documents
In the State of Delaware, this document is called the Articles of Incorporation (for corporations) or the Articles of Formation (for LLCs).
You can learn more about how to prove the existence of your company here.
What is a series LLC?
A Delaware series limited liability company is an LLC that essentially acts as an umbrella with other LLC's operating under it. There are two types of series LLCs: Protected Series LLCs and Registered Series LLCs.
You can learn more about series LLCs and the difference between the two types here.
My registered agent resigned. What should I do?
If your registered agent resigns, you must obtain and designate a new Delaware registered agent within 30 days. If you do not, your corporation or LLC will have the charter forfeited by the state of Delaware.
For step by step instructions on how to designate a new registered agent if yours resigns, check out our blog post here.
How long does it take to form an LLC?
After you submit your order for an LLC to The Incorporators Ltd., we prepare the Certificate of Formation and upload it directly into the Delaware Secretary of State's Corporate Information System.
Our business hours are Monday-Friday from 9am to 5pm and we generally file your order the same day. Orders placed after business hours will be processed the next morning.
Once we've established your LLC in the state database, the state will review the documents and filing, and generally return the filed Certificate of Formation electronically to us within three to five business days. If you wish to expedite this, you can add the State of Delaware 24 hour expedited service to your order for an additional fee.
You can learn more about the process of forming an LLC and how long it takes here.
I just ordered a certificate of good standing. When will I receive it?
Turnaround time for a Delaware Certificate of Good Standing is the same day. In fact, we generally deliver your Certificate of Good Standing within two hours, during normal business hours (M-F; 9:00am to 5:00pm EST).
If ordered after hours, the Certificate of Good Standing will be delivered the next morning. Orders placed over the weekend will be fulfilled Monday morning.
Learn more about the ordering process and delivery of a Delaware certificate of good standing here.
What documents do I need to open a business bank account?
Each bank may require different or additional documents but the most common documents required to open a business bank account are:
- Document proving the existence of your company
- Business Tax Idenification Number (EIN) or your social security number
- Valid identification
- Certificate of Good Standing. This is most common when funding related transactions are involved. You can order one quickly online here.
What does a registered agent do?
The basic duties of a Delaware Registered Agent are as follows:
- To accept and forward Annual Report Tax Notices and any other official documentation from the Secretary of State to the entity contact.
- To accept and forward Service of Process.
Under Delaware law, a registered agent must be generally available during normal business hours to accept Service of Process.
If your registered agent is doing that for you, then they are meeting their minimum requirement to act as your agent, and charge you a fee. However, a great Registered Agent does much more. Learn more about what a registered agent does and other services a great registered agent will provide.
DISCLAIMER: The Incorporators LTD. is a business formation service company only.
All content on this site is for informational purposes only and should not be construed as legal, taxation or financial advice or services.