Compliance tasks to include on your business relocation checklist
One important task is updating wherever your old business address is on file with a government agency. This would include — if you are talking about an LLC, corporation, or other statutory entity — updating the address with the Secretary of State (or similar office) in the jurisdiction of formation and in each jurisdiction where the entity is qualified as a foreign entity. It also includes updating the address with agencies in which the business has a license or permit, and with federal, state, and local tax departments.
Also, if the LLC, corporation, or other statutory entity is a “reporting company” under the Corporate Transparency Act and the address it set forth as its principal place of business on its most recent Beneficial Ownership Information Report (BOI) has changed, it must file an updated BOI report with the Financial Crimes Enforcement Network (FinCEN).
Another task is updating the address on documents where the old address is set forth. This could include governance documents (such as articles of organization, articles of incorporation, bylaws, operating or partnership agreements), as well as business contracts and agreements. Also, make sure your marketing materials, website, and social media platforms have your new address.
You’ll also want to let your bank, insurance company, suppliers, customers, etc. know you have moved.
CT Corporation understands the steps involved, and we’ve created this handy business relocation checklist to save you time in identifying the scope of your relocation compliance project. We’ve called out key areas that are often overlooked to help you prioritize activities based on urgency and importance.
We know moving offices is a big undertaking, so if CT Corporation can assist you with licensing and Secretary of State filings, or with BOI reporting obligations, just ask!
CT Corporation is dedicated to helping your business stay compliant so you can focus on the move. If you want to learn more, contact a CT Corporation representative.