When starting a business, entrepreneurs are often on the lookout for the best service providers to form their companies. It can be daunting to sift through all the options.
This guide looks at one of the best in the business, so you don’t have to spend hours researching. This IncFile review explains what it offers, its pricing, cons and pros, and other important considerations.
- Free business formation services: IncFile offers its clients a free business formation service (excluding fees).
- Quick order turnaround: It files LLC documents within a business day.
- Free registered agent services: Get full access for an entire year.
Overview of IncFile
IncFile is a reputable LLC formation company founded in 2004 and has helped over 250,000 businesses since then. It’s famous for its business formation services and affordable pricing.
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IncFile's business experts are familiar with the entity formation requirements of the fifty states in the USA and Washington D.C.
For $0, plus the state filing fees, IncFile will help its clients form their businesses and provide a full year of registered agent services.
Key Features of IncFile
Business formation
IncFile can help its customers set up an LLC, a corporation, S-corporation, and a nonprofit. It’ll prepare and file documents with the state and then delivers the certificates to customers after the company has been registered.
IncFile's business formation services save its clients time and money by helping them follow through with the federal and state requirements for new business entities.
Registered Agent services
An LLC requires the services of a registered agent and IncFile includes one in all of its packages for free for a year. The registered agent receives all crucial documents on behalf of the client's company and then forwards them to the appropriate party.
The registered agent also ensures maximum privacy protection for the clients and makes sure that they get all deliveries. After a free year of service, it costs $119 per year.
Internal documents
IncFile helps its clients create a customized operating agreement that lists the name of each member and the ownership percentage.
Additionally, it creates custom bylaws and organizational meeting minutes for corporations. They list the names of shareholders and directors. It also includes the number of shares owned by each shareholder.
It doesn’t end there, IncFile can also help you create other custom documents which includes banking resolutions and statements of the organizer/incorporator.
Electronic copies
IncFile keeps electronic copies of its clients documents for future purposes - in case you lose or misplace the ones that are sent to you. The digital format of the copies of all the customer's filings will be readily available if something unplanned happens to the originals.
Pricing
IncFile three formation packages. Each plan builds on the previous one, with more features being included the more you pay. Each package is highlighted below.
Silver package
IncFile silver includes preparing and filing articles of organization, name availability check, and online status tracking.
Also, it includes a year of free registered agent services, unlimited phone and email support, online document access, business tax consultation, and lifetime company alerts. IncFile charges its clients $0 plus the state filing fee.
Gold package
The Gold package includes everything in the silver package plus a custom operating agreement, Employer's Identification Number (EIN), and a banking resolution.
It also includes a business formation kit. This is a box with the client's company's name on it, a document organizing ledger, and a transfer ledger.
The Gold package also includes express shipping and S-corporation tax form preparation. The Gold package costs $149 plus state filing fees.
Platinum package
Platinum provides everything included in the Gold plan plus expedited document filing, a basic business website, and a domain name.
It also offers customers a sample document library that grants its clients access to IncFile's legal contract templates. The library contains 25 business documents written by attorneys and can be customized to fit your needs. Platinum costs $299 plus state fees.
Add-on services
Certificate of good standing
A certificate of good standing proves that your company complies with state and federal regulations. It also improves the credibility and reliability of your business with potential investors or partners.
IncFile can help its clients file the appropriate form with their formation state to obtain a certificate of good standing. It charges $49 plus state fees.
Employer Identification Number (EIN)
An EIN is essential in many situations to operate your business, such as hiring, filing taxes, opening a bank account, etc. Incfile can help its clients handle the paperwork in the clients' formation state to save them a lot of time and only charges $70.
Preparing and filing an annual report
LLCs are required to file an annual report with the state secretary. An annual report keeps your state of formation informed about any developments or changes in your business ownership. IncFile can help its clients prepare and file annual reports. It charges $99 plus the state filing fees.
Ease of use
The order process on the site is relatively easy and takes roughly 10 to 15 minutes to complete. IncFile personalizes the sign-up process depending on the type of business and state of formation.
There are helpful tooltips throughout the forms, so if you get stuck, they should shed more light on what you’re expected to do. It does have a few promotional offers from third-party partners on its site, but they don’t affect the actual formation process. An interesting aspect of its website is that it saves the clients' progress to continue later.
Pros and cons
Pros
- Quick turnaround time for orders
- Offers its clients a federal tax I.D. number
- A year of free registered agent services
- The company's filings are stored in digital format to ensure easy access later.
- Offers its clients' tax filing services
- Provides a publication service
- Provides worry-free compliance
- Includes lifetime company alerts
- Quick and simple check out process
Cons
- It offers limited intellectual property services
- It might be a bit challenging to get a hold of its customer support team on the phone
- It doesn't provide its clients a professional limited liability company (PLLC).
Customer support
IncFile provides customer support to its clients through phone and email Monday to Friday from 9 am to 6 pm. Its customer support reviews are, however, mixed. While some attest to their great experience, some find it quite challenging to get a hold of them.
Even though it may be challenging to get on the phone with them, they know what they’re talking about once you finally speak to a rep. The email support seems more reliable - they take their time to respond to their customers' inquiries thoroughly.
Alternatives to the service
Corp Net
Corp Net was founded by a couple, Philip and Nellie Akalp, in 1997. Because it's a family-owned business, they work even harder to ensure their clients are satisfied with the services.
Its customers are more particular about speed and the upper-tier packages, Deluxe and Complete, cater to this by offering 24-hour document preparation. It also offers its clients a 100% satisfaction guarantee; it'll refund customers' funds if they're not satisfied with its services.
Its customer support is also top-notch. They're accommodating and make the clients feel relaxed. Clients are considered partners instead of just another transaction. . You can read the full Corp Net Review here.
Swyft Filings
As its name implies, Swyft Filings offers its clients a fast turnaround time and is one of the most affordable service providers in the industry. It’s suitable for small businesses and cash-strapped entrepreneurs because it allows them to pay in two installments.
The company also offers its clients a personal business specialist - this makes it easier for them to make inquiries and resolve issues
Swyft Filings offers its clients a 100% satisfaction guarantee; it refunds its customers money if they're unpleased with its services. You can read the full Swyft Filings review here.
BetterLegal
BetterLegal has one of the fastest turnaround times in the industry. It provides its clients with their certificates within two days after registration.
It focuses on meeting the needs of its clients and tries as much as possible to avoid upsells. Its pricing is also pretty transparent, with no hidden charges.There are additional free services such as attorney support, website domain, free checking account, and tax analysis. You can read the full BetterLegal review here.
Conclusion
Incfile offers its clients great value charging them $0 for its silver package and them to form a new business by only paying state fees. Its other packages - gold and platinum - offer competitive pricing and provide customers with a wide range of services.
IncFile is suitable for small businesses and cash-strapped entrepreneurs who want to start a company officially. There is a fast turnaround time that sees documents filed within one business day.
IncFile also provides its clients with a full year of free registered agent services in all of its packages, including its free plan - this shows how value-packed the company is.
IncFile also offers its clients a free LLC compliance reminder. The pros associated with this company far outweigh its cons. Because of that, it has become one of the most reputable service providers in the industry.
The downside to the service is the difficulty in getting in touch with its customer support team on the phone. Of course, they’re available via email and you probably won’t have an emergency when working with them. All things considered, it’s a great service.
Frequently asked questions (FAQ)
Is IncFile worth it?
IncFile is worth it. The company provides its clients with value-packed services - it offers a free business formation service, a year of free registered agent services, and a free LLC compliance reminder.
What are IncFile's most significant advantages and disadvantages?
Although, it's easy to say that its free business formation service is its most significant advantage.
However, on a closer look, its most significant advantage is its excellent customer feedback. The company has over a thousand reviews online, and the majority are satisfactory.
IncFile doesn't have a glaring disadvantage. However, its inclusion of third parties partnerships could be the most significant disadvantage. Customers don't particularly enjoy it.
What is the IncFile refund policy?
IncFile's refund policy is quite strict. IncFile will only grant its clients refund requests within 24hours if they've not sent money to the formation state.
Even if the customer makes a timely refund request, it'll still charge $30 as a cancellation fee.