Have questions about Formation, Banking, or Taxes?

Free Consultation

𝒊𝙁𝙞𝙡𝙚𝙧

About 𝒊𝙁𝙞𝙡𝙚𝙧

https://ifilerbd.com

iFiler┃Your Complete Business Operations Solution.┃Company Formation, Compliance, E-commerce Solutions, and More.┃USA & UK Marketplace.

Posts by :

Your First Annual Report: What It Is & How to File It On Time

Your First Annual Report: What It Is & How to File It On Time

0 Comments

Your First Annual Report: What It Is & How to File It On Time.

Starting a business is exciting—but staying compliant is just as important as launching. One of the first (and most commonly overlooked) compliance tasks for new business owners in the USA is filing the Annual Report. Whether you’re running an LLC or a Corporation, your state likely requires you to submit this document to remain in good standing.

In this blog post, we’ll walk you through what the Annual Report is, who needs to file it, deadlines, penalties for missing it, and how iFiler can help you file your first report—accurately and on time.

What Is an Annual Report?

An Annual Report is a mandatory filing that provides the state with up-to-date information about your business. It ensures that your company’s records are current and legally recognized.

The report usually confirms basic company details such as:

  • Legal business name

  • Principal office address

  • Mailing address (if different)

  • Names and addresses of members, managers, or directors

  • Registered agent details

  • Business activity (in some states)

It is not the same as a federal tax return. The Annual Report is submitted to your state government, not the IRS.

Why Annual Reports Are Important

Annual Reports serve three main purposes:

  1. Legal Compliance
    Filing keeps your company in “good standing” with the state. Without it, your business risks penalties or administrative dissolution.
  2. Public Record Accuracy
    States maintain public records about registered businesses. The Annual Report helps ensure your company’s data is accurate and searchable.
  3. Maintaining Authority to Operate
    Some states require proof of good standing before you can apply for loans, renew business licenses, or sign contracts. Filing your report helps maintain your legal and operational status.

Who Needs to File an Annual Report?

The requirement to file an Annual Report depends on:

  • Entity type: Most LLCs and Corporations must file it.

  • State: Each state has its own rules, deadlines, and fees.

LLCs:

  • In most states, LLCs must file either an Annual or Biennial (every two years) Report.

  • Single-member and multi-member LLCs both fall under this rule.

Corporations:

  • C-Corps and S-Corps must generally file Annual Reports or “Statements of Information” to keep their corporate records active.

Even if your business didn’t earn revenue or remained inactive, you must still file your Annual Report if your entity is active.

When Is Your First Annual Report Due?

Your first Annual Report is usually due:

  • Within the first year after registration

  • On a specific date (e.g., April 1st) or anniversary of formation

  • Sometimes by the end of the calendar year (especially in states like Florida)

Examples:

  • Florida: Due every year by May 1st

  • California: First report due within 90 days of formation, then annually

  • Delaware: Corporations report by March 1st; LLCs pay a flat annual tax by June 1st

  • Texas: Franchise Report due May 15th annually

Note: Dates and rules vary by state. Always check your state’s specific deadline—or let iFiler track it for you.

What Happens If You Miss the Deadline?

Missing your Annual Report deadline can lead to serious consequences, including:

  • Late fees: Some states charge $25–$400 for late filings.

  • Administrative dissolution: The state can shut down your business for non-compliance.

  • Loss of good standing: You may not be able to open business bank accounts, get funding, or sign contracts.

  • Legal issues: Operating while not in good standing could result in personal liability or contract disputes.

Reinstatement is possible, but it’s often more costly and stressful than filing the report on time.

How to File Your Annual Report

The filing process is usually simple but can vary by state.

Step-by-Step Overview:

  1. Check Your Due Date
    Look up your state’s business website or contact iFiler for a compliance review.

  2. Gather Required Information

    • Business name

    • Business address(es)

    • Registered agent information

    • Names of members/managers (LLC) or directors/officers (Corporation)

  3. Submit the Report Online
    Most states allow online filing via the Secretary of State’s website.
  4. Pay the Filing Fee
    Fees range from $10 to $300+, depending on the state and entity type.
  5. Save Confirmation and Receipts
    Always keep a copy of your submission for records or legal proof.

✅ Don’t want to deal with this every year? iFiler offers Annual Report Monitoring & Filing so you never miss a deadline again.

Annual Report vs Franchise Tax

Many business owners confuse Annual Reports with Franchise Tax filings.

  • Annual Report: Keeps your entity’s record active with the state.

  • Franchise Tax: A tax or fee required to operate as a registered business in certain states (like Texas or Delaware).

Some states require both—others combine them into one filing. iFiler can guide you based on your state’s rules.

How iFiler Helps You Stay Compliant

At iFiler, we help you:

  • Track your state-specific deadline

  • Prepare and file your Annual Report accurately

  • Update your business info (e.g., address or member changes)

  • Avoid penalties and maintain good standing

  • Bundle report filing with your federal tax services

We serve both U.S. residents and foreign business owners who operate LLCs and Corporations in the U.S.

Final Tips for New Business Owners

  • Mark your Annual Report deadline on a calendar

  • Keep business records organized and updated

  • Use a Registered Agent service to stay in good standing

  • Consider setting up automatic reminders or compliance tools

Conclusion: Don’t Let Paperwork Shut You Down

Filing your first Annual Report may seem minor—but missing it can lead to major headaches. It’s your responsibility as a business owner to stay compliant with your state’s requirements. The good news? You don’t have to do it alone.

Let iFiler take care of the details so you can focus on running your business with confidence.

✅ Ready to File?

 

Visit iFiler.us or message us directly to file your Annual Report now.
📆 Never miss a deadline again—with iFiler on your side.
EIN vs ITIN: What They Are & Why Your Business Might Need Both

EIN vs ITIN: What They Are & Why Your Business Might Need Both

0 Comments

EIN vs ITIN: What They Are & Why Your Business Might Need Both.

If you’re starting a business in the United States—especially as a non-U.S. resident—you’ve likely come across two terms: EIN and ITIN. While they may sound similar, they serve very different purposes. Knowing the difference is critical if you want to operate legally, file taxes properly, and access essential tools like U.S. bank accounts and payment gateways.

In this blog post, we’ll break down what EINs and ITINs are, who needs them, and why your business might need one—or both. Whether you’re forming an LLC or managing e-commerce income from platforms like Amazon or Stripe, this guide will help you understand your U.S. tax identity requirements.

What is an EIN (Employer Identification Number)?

An EIN is a federal tax ID number issued by the Internal Revenue Service (IRS) to identify a business entity operating in the United States. It functions like a Social Security Number, but for your company.

Key Facts About EIN:

  • Stands for: Employer Identification Number

  • Issued by: IRS (Internal Revenue Service)

  • Who it’s for: LLCs, Corporations, Partnerships, Sole Proprietors with employees

  • Primary Use: Filing taxes, hiring employees, opening U.S. business bank accounts, applying for payment processors (Stripe, PayPal)

When You Need an EIN:

  • Forming a U.S. LLC or Corporation

  • Applying for a U.S. bank account or Stripe account

  • Hiring employees or freelancers in the U.S.

  • Filing U.S. federal taxes

  • Applying for business credit

If you’re a non-resident forming a U.S. company, the EIN is your official business identity number in the U.S. tax system. You don’t need to have a Social Security Number to get one, but you may need to submit Form SS-4 via fax or mail—and that’s where services like iFiler come in handy.

What is an ITIN (Individual Taxpayer Identification Number)?

An ITIN is a personal tax identification number issued by the IRS to individuals who need to file or report taxes in the U.S. but are not eligible to receive a Social Security Number (SSN).

Key Facts About ITIN:

  • Stands for: Individual Taxpayer Identification Number

  • Issued by: IRS

  • Who it’s for: Non-resident individuals, foreign investors, or business owners

  • Primary Use: Filing personal income tax returns, receiving tax refunds, complying with IRS requirements

When You Need an ITIN:

  • You’re a foreign owner of a U.S. LLC and need to report your share of income

  • You’re eligible for a U.S. tax treaty benefit and must file a tax return

  • You receive U.S.-sourced income from Amazon, YouTube, or other platforms that issue a 1099 form

  • You need to claim a refund of withholding tax from the IRS

  • You’re a dependent or spouse of a U.S. taxpayer but not eligible for an SSN

In short, if the EIN is the number used to identify your business, the ITIN is used to identify you personally as a foreign taxpayer.

Why Do Some Business Owners Need Both EIN and ITIN?

Depending on your structure and income, many foreign entrepreneurs will need both an EIN and an ITIN.

Here’s why:

  • You use the EIN to register your LLC, open bank accounts, and operate the business.

  • You use the ITIN to file your personal U.S. tax return if you’re considered a member of a pass-through entity like a single-member LLC.

For example, if your U.S. LLC earns income through Amazon, the IRS may consider that as U.S.-sourced income. Even if you don’t live in the U.S., you’re required to report that income—and an ITIN allows you to do so legally and possibly reduce your tax rate through treaty benefits.

Common Scenarios Explained

🔹 Scenario 1: Foreign Entrepreneur with a U.S. LLC

  • You formed an LLC with iFiler.

  • You need an EIN to open a bank account and receive payments.

  • You also need an ITIN to file a 1040-NR tax return and declare business income.

🔹 Scenario 2: Selling on Amazon or Stripe as a Non-Resident

  • Amazon asks for your EIN to verify your business.

  • Amazon or Stripe may withhold 30% tax unless you provide a W-8BEN form using your ITIN to claim treaty benefits.

🔹 Scenario 3: You Invest in U.S. Real Estate or Partnerships

  • You receive passive income from the U.S.

  • The IRS expects you to file a return and report this income using an ITIN.

  • If you own the investment through an LLC, you’ll also need an EIN for the company.

How to Apply for an EIN and ITIN

✅ Applying for an EIN:

  • You fill out Form SS-4

  • If you don’t have an SSN, you may need to send it via fax or mail

  • Processing time can take 1–3 weeks without help

  • iFiler can get it for you in as little as 1–5 business days, even without an SSN

✅ Applying for an ITIN:

  • You fill out Form W-7

  • You must submit identity documents (e.g., passport)

  • It must be sent to the IRS by mail, through an IRS-authorized agent, or with help from a Certifying Acceptance Agent (CAA)

  • Processing usually takes 7–10 weeks

At iFiler, we provide end-to-end assistance with EIN and ITIN applications—making the paperwork stress-free and ensuring faster processing.

Important Notes

  • ITINs expire if not used on a tax return in 3 years.

  • EINs do not expire, but if you change business structure, you may need a new one.

  • Having an ITIN does not give you immigration rights or permission to work in the U.S.

  • An ITIN is not the same as an SSN or business license.

Conclusion: Which One Do You Need?

If you’re a non-resident entrepreneur forming a U.S. company:

  • You definitely need an EIN to operate your business

  • You may need an ITIN to stay tax compliant and avoid overpaying withholding taxes

Understanding the difference between EIN and ITIN can save you money, protect you from penalties, and ensure you’re operating legally in the U.S. market.

Let iFiler Handle It for You

At iFiler, we simplify your U.S. expansion with:

  • EIN application support (no SSN needed)

  • ITIN assistance with IRS-compliant documentation

  • Company formation, bank setup, and tax filing

  • Support for Amazon, Stripe, Payoneer, and more

 

📩 Contact our team to get started with your EIN or ITIN today.
🌐 Visit iFiler.us for complete packages tailored for non-U.S. entrepreneurs.
🚀 Let’s make your U.S. business dream a reality—no stress, just results.

USA vs UK Company Formation: Key Differences You Should Know

USA vs UK Company Formation: Key Differences You Should Know

0 Comments

USA vs UK Company Formation: Key Differences You Should Know

When choosing where to form your business, two of the most popular jurisdictions are the United States and the United Kingdom. Both offer strong legal systems, credibility with global customers, and access to international financial tools like Stripe and PayPal.

But while the two countries share many benefits, they differ in important ways—from registration processes and costs to tax structures and legal obligations. At iFiler, we’ve helped countless entrepreneurs from around the world successfully form and manage companies in both regions.

This guide breaks down the key differences between forming a company in the USA and the UK so you can make an informed decision based on your goals, industry, and customer base.

1. Legal Entity Types and Structures

In the USA, entrepreneurs most commonly register as either a Limited Liability Company (LLC) or a Corporation (C-Corp or S-Corp). LLCs are ideal for flexible ownership and simpler tax reporting, while C-Corps are typically favored by startups seeking outside investment. S-Corps are a special tax designation available only to U.S. residents.

In the UK, the most popular structure is the Private Limited Company (Ltd). This structure provides liability protection for shareholders, has a clearly defined management setup, and is widely accepted for e-commerce, consulting, and service-based businesses.

Both structures—LLC in the U.S. and Ltd in the UK—offer limited liability, meaning your personal assets are protected if the business incurs debts or lawsuits.

2. Formation Process

Forming a company in the United States involves several steps that vary by state. First, you choose a state like Wyoming, Delaware, or Texas. Then, you must check your business name availability, appoint a registered agent with a physical address in the state, and file the Articles of Organization (for an LLC) or Articles of Incorporation (for a Corporation). An EIN (Employer Identification Number) from the IRS is also required to open bank accounts and file taxes. Some states issue approvals within one day, while others may take up to two weeks.

In contrast, the United Kingdom has a fast, centralized process through Companies House. Once you select a unique business name, appoint a director, and choose a registered UK office address, you can submit your application online. If everything is correct, you’ll usually receive your Certificate of Incorporation within a few hours. Even non-UK residents can complete the entire process remotely.

iFiler supports full formation in both countries, whether you’re a resident or a foreign founder.

3. Formation Costs

The cost of forming a business in the USA depends on the state. Some states charge as little as $50, while others may exceed $300. You’ll also need to pay for a registered agent (typically $50–$150 per year) and may want help applying for an EIN, especially if you’re a non-U.S. resident.

In the UK, the cost of registering with Companies House is very low—just £12 if done online. While optional services like a registered office or nominee director may increase costs, the overall setup is usually more affordable compared to the U.S.

At iFiler, our formation packages are designed to keep your startup costs minimal while providing maximum value.

4. Taxation

One of the most significant differences between the two countries is how businesses are taxed.

In the USA, LLCs have the option to be taxed as sole proprietorships, partnerships, or corporations. This flexibility allows business owners to optimize their tax strategy. C-Corps are taxed separately from their owners and pay a federal corporate tax rate of 21%, plus potential state taxes. Some states also impose an annual franchise tax, regardless of income.

The UK operates on a flat corporation tax rate—currently 25% on profits. Directors and shareholders may also need to file personal tax returns through HMRC’s self-assessment system. Businesses must register for VAT (Value Added Tax) if their revenue crosses the threshold, currently £90,000 annually.

iFiler can assist you in registering for the correct tax IDs—whether it’s an EIN in the U.S. or Corporation Tax and VAT registration in the UK.

5. Banking and Payment Setup

Opening a business bank account is critical for managing funds and accepting payments. In the USA, online banks like Mercury, Wise, Bluevine, Payoneer, and Relay offer fast onboarding, especially when paired with an EIN. Most payment gateways—including Stripe and PayPal—require a U.S. business bank account.

In the UK, digital banks such as Tide, Revolut, Wise, and Monzo make it easy to open a business account remotely. Stripe, PayPal, and other payment providers readily support UK-registered businesses.

iFiler helps clients open business accounts in both regions, even without visiting the country.

6. Ongoing Compliance and Reporting

Once your company is formed, you’ll need to keep it in good standing with ongoing reports and filings.

In the USA, most states require an annual report and charge a small maintenance fee. LLCs and Corporations must file tax returns each year, and depending on the state, you may need to pay a franchise tax. A registered agent must be maintained at all times.

In the UK, you’ll need to submit an annual confirmation statement, file company accounts, and pay corporation tax on time. Even if your company makes no revenue, filings are still mandatory. You must also keep a UK-registered office address active.

To make this easier, iFiler offers affordable compliance packages that handle your reminders, filings, and official updates automatically.

7. Privacy and Public Disclosure

Privacy is an area where the two systems differ.

Certain U.S. states like Delaware, Wyoming, and New Mexico offer business owners more privacy by not requiring public disclosure of owners or managers. Other states publish company information, including the name and address of the registered agent, on their Secretary of State websites.

In the UK, transparency is mandatory. Directors’ names, shareholding information, and even office addresses are published in the public Companies House database. However, privacy can still be maintained using nominee services or virtual office addresses—services iFiler provides.

Which Country Should You Choose for Your Business?

Choose the USA if:

  • You’re targeting U.S. customers or marketplaces like Amazon.com

  • You want access to U.S. financial tools like Stripe US or Payoneer

  • You need flexibility in tax structure or want to raise venture capital

  • Privacy is a priority, and you prefer states that don’t require public ownership records

Choose the UK if:

  • You want fast and inexpensive setup

  • You’re planning to trade in the UK or EU

  • You prefer a simplified tax structure with a flat rate

  • You need an entity accepted across Europe and Commonwealth countries

Both jurisdictions are internationally respected and offer their own advantages. The right choice depends on your goals, market, and financial strategy.

How iFiler Can Help

Whether you’re setting up in the USA or UK, iFiler provides everything you need:

  • Company Formation for LLCs or Ltds

  • EIN or VAT Registration

  • Registered Agent or Office Address

  • Business Bank Account Setup

  • Stripe, PayPal, Amazon Compliance

  • Annual Compliance Management

We make business formation fast, reliable, and fully remote—even for non-residents.

Ready to Start?

 

🌐 Start forming your USA or UK company now at iFiler.us or iFiler.uk
📩 Need guidance? Contact our team for a free consultation.
🚀 With iFiler, launching globally has never been simpler.

pexels-pavel-danilyuk-8112231

How to Properly Close (Dissolve) a Business in the USA or UK

0 Comments

How to Properly Close (Dissolve) a Business in the USA or UK

A step-by-step guide to help entrepreneurs dissolve their businesses the right way—without penalties or future obligations.

Closing a business is never an easy decision—but when it’s time, doing it legally and properly is crucial.

Whether you’re winding down operations, pivoting your business model, or simply ready to move on, proper dissolution ensures you’re free from future liabilities, penalties, and legal responsibilities.

At iFiler, we help business owners—both in the United States and the United Kingdom—dissolve their companies quickly, correctly, and with peace of mind.

Let’s walk you through how to dissolve your company step by step, depending on your location.

📍 What Is Business Dissolution?

Dissolution is the formal, legal process of closing a company. It involves notifying the appropriate government agency that your business is ceasing operations and ensuring that all legal, financial, and tax obligations are completed.

Once a business is dissolved:

  • It no longer exists as a legal entity.

  • You are not required to file annual reports or pay taxes going forward.

  • You are protected from unexpected legal claims tied to the business.

💼 Why Proper Dissolution Matters

Failing to dissolve a company properly can lead to:

❌ Ongoing tax liabilities and penalties
❌ Accumulated late fees for missed reports
❌ Personal liability for unresolved debts
❌ Blocked future business registrations
❌ Legal disputes over ownership or assets

✅ A clean dissolution protects your reputation, personal credit, and future ventures.

🗂️ Step-by-Step Guide: Closing a Business in the USA

Step 1: Hold a Vote or Decision to Dissolve

If you have partners or shareholders, you must:

  • Hold a formal meeting.

  • Record a resolution or unanimous agreement to dissolve the company.

📌 For single-member LLCs, this step is internal but should still be documented.

Step 2: File Articles of Dissolution with the State

You must notify the Secretary of State where your business was formed (and any other states where you’re registered).

Required Documents:

  • Articles of Dissolution or Certificate of Dissolution

  • Payment of filing fees (varies by state: $20–$200+)

📎 iFiler prepares and submits these documents for you across all 50 states.

Step 3: Resolve Final Taxes

Before closing your business, you must:

  • File your final federal tax return

  • Pay any sales, payroll, or franchise taxes

  • Notify the IRS that you’re closing (Form 966 for corporations)

  • Cancel your EIN if no longer needed

📌 Some states require a tax clearance certificate before accepting your dissolution.

Step 4: Cancel Licenses, Permits & Bank Accounts

Shut down all remaining obligations by:

  • Canceling your business license

  • Closing your business bank account

  • Informing vendors and clients

  • Closing merchant accounts (Stripe, PayPal)

Step 5: Distribute Assets & Retain Records

Distribute remaining assets to members/shareholders based on your operating agreement or corporate bylaws.

Keep records for at least 3–7 years for tax and legal purposes.

🇬🇧 Step-by-Step Guide: Closing a Business in the UK

Step 1: Stop Trading & Notify HMRC

If your business is still active:

  • Stop all operations

  • Notify HMRC and complete final VAT returns, PAYE filings, and corporation tax

📌 Make sure all taxes are paid before applying to dissolve.

Step 2: Distribute Remaining Assets

Pay off all debts and liabilities. Then distribute remaining assets to shareholders or directors before dissolution.

Once dissolved, the company’s bank account is frozen, and any remaining assets are passed to the Crown.

Step 3: Apply for Voluntary Strike Off (Form DS01)

Submit Form DS01 to Companies House to request that your company be struck off the register.

Requirements:

  • Company has not traded in the last 3 months

  • No legal proceedings are ongoing

  • No changes in company name or structure in the past 3 months

📎 iFiler handles the DS01 filing process for both UK residents and non-residents.

Step 4: Notify Interested Parties

You must inform all interested parties (e.g., employees, creditors, shareholders) within 7 days of filing DS01.

This includes:

  • HMRC

  • Business bank

  • Utility providers

  • Landlords, lenders, etc.

Step 5: Wait for Confirmation

If no objections are filed, Companies House will dissolve the company in approximately 2 months from publication in the Gazette.

Once dissolved, the business is officially closed and cannot legally operate.

🚫 When You CANNOT File for Voluntary Dissolution

In both the USA and UK, you cannot voluntarily dissolve a business if:

  • There are unresolved legal actions

  • You’re actively trading

  • You owe outstanding taxes or penalties

  • You’ve recently changed the company name or structure (UK rule)

In such cases, you may need to:

  • Settle debts first

  • Clear up tax obligations

  • Enter into administration or liquidation (for UK companies)

🛠️ How iFiler Helps You Close Your Business Properly

Whether you’re dissolving a U.S. LLC or a UK Limited Company, iFiler makes the process clear and compliant.

Our Services Include:

✅ Preparing and filing Articles or DS01
✅ Notifying the Secretary of State / Companies House
✅ Final tax guidance and support
✅ Registered Agent or Office Address termination
✅ Banking and Stripe/PayPal closure tips
✅ Step-by-step guidance for non-resident clients

We ensure that your business is closed cleanly and legally—with no lingering obligations or surprises.

❓ Frequently Asked Questions

Q: Do I have to dissolve a company if I’m not using it?

Yes. If you’re no longer operating, you must officially dissolve the business to stop tax and compliance responsibilities.

Q: What happens if I don’t dissolve my company?

You may continue to accrue late fees, be subject to tax filings, or risk legal actions—even if you’re no longer trading.

Q: Can I reopen the business later?

You can reinstate a company after dissolution in most cases (see iFiler’s Reinstatement Guide), but it’s best to decide before filing.

🚀 Close Your Business with Confidence — The Right Way

Ending a business doesn’t have to be complicated.
With iFiler, you can close your company quickly, legally, and stress-free—in both the USA and UK.

📎 Legal Compliance
📤 Fast Filing & Notifications
✅ Final Tax Assistance
📩 Full Support for Non-Residents

 

🌐 Dissolve your business today at iFiler
🔒 Exit. Clean. Clear—with iFiler.

What Is Business Reinstatement & When Do You Need It?

What Is Business Reinstatement & When Do You Need It?

0 Comments

What Is Business Reinstatement & When Do You Need It?

Covers the reasons a business might be dissolved and how to reinstate it legally and efficiently.

Sometimes, even well-managed businesses fall out of compliance with government requirements. Whether due to missed filings, unpaid fees, or administrative oversights, your company can be dissolved or struck off—meaning it’s no longer legally allowed to operate.

But the good news is: reinstatement is possible.
With the right steps, you can bring your company back to “active” status—and restore your rights, contracts, and operations.

This guide from iFiler explains exactly what business reinstatement is, why companies get dissolved, and how you can reinstate a company quickly and legally in the USA or UK.

📍 What Is Business Reinstatement?

Business reinstatement is the legal process of reactivating a dissolved or inactive company by correcting compliance issues and filing necessary documentation with the relevant government agency.

  • In the United States, reinstatement is done through the Secretary of State in the company’s formation state.

  • In the United Kingdom, it’s done through Companies House or via a court order, depending on the situation.

Once reinstated, your company returns to good standing and can resume operations as if it had never been dissolved.

⚠️ Why a Business May Be Dissolved or Struck Off

There are several reasons a company can be administratively dissolved or struck off the register by the government:

🇺🇸 In the U.S.:

  1. Failure to File Annual Reports

  2. Non-payment of Franchise Taxes or Fees

  3. No Registered Agent or Invalid Address

  4. Violation of State Regulations

  5. Failure to Maintain Good Standing

🇬🇧 In the UK:

  1. Failure to File Annual Accounts

  2. No Submission of Confirmation Statement

  3. Notifying Companies House of Changes

  4. No Trading Activity

  5. Voluntary Application for Dissolution

📌 In both countries, the company is legally dissolved and loses all protections and rights until reinstated.

🛑 Consequences of Business Dissolution

  • Your business name becomes available to the public.

  • You can no longer enter contracts, invoice, or sell products.

  • Bank accounts and Stripe/PayPal accounts may be closed.

  • You lose liability protection, exposing owners personally.

  • You may be barred from bidding on contracts or applying for licenses.

✅ When Should You Reinstate a Company?

You should reinstate your company if:

  • You missed filing deadlines by mistake or due to unexpected issues.

  • Your company was struck off for non-compliance but you want to continue operating.

  • You plan to sell assets, receive payments, or apply for funding.

  • You want to restore your original company name, branding, or contracts.

  • You need to avoid starting a new company from scratch.

🧾 How to Reinstate a Company (Step-by-Step)

Here’s how reinstatement works in both the USA and UK, simplified with iFiler’s assistance:

🇺🇸 U.S. Business Reinstatement Process

Reinstatement rules vary by state, but typically follow these steps:

1. Determine Eligibility

Not all companies can be reinstated immediately. Some states have time limits (e.g., 2–5 years after dissolution).

2. Resolve the Reason for Dissolution

This may include:

  • Filing past-due annual reports

  • Paying franchise taxes, late fees, and penalties

  • Updating your Registered Agent

3. Submit Reinstatement Application

Most states require:

  • Application for Reinstatement

  • Certificate of Good Standing

  • Corrective documents

4. Pay Applicable Fees

Reinstatement filing fees vary from $50 to $500+, depending on the state and how late you are.

5. Receive Confirmation

Once approved, your company is restored to active status, and in many cases, it’s retroactively as if it was never dissolved.

🟢 iFiler helps you file reinstatements in all 50 U.S. states—accurately and fast.

🇬🇧 UK Company Restoration (Reinstatement) Process

There are two types of restoration:

1. Administrative Restoration (Most Common)

Applies to companies struck off within the last 6 years and that were operating at the time.

Requirements:

  • File outstanding accounts and confirmation statements

  • Pay penalties and late fees

  • Submit Form RT01 to Companies House

📝 Once processed, the company is restored and can trade legally again.

2. Court-Ordered Restoration

If administrative restoration isn’t possible (e.g., due to being struck off voluntarily), you must apply via the High Court.

This process is more complex and involves:

  • Legal representation

  • Court fees

  • Filing all outstanding compliance documents

📌 iFiler supports Administrative Restoration and guides users through Court-Ordered options via legal partners if needed.

⏱️ How Long Does Reinstatement Take?

  • U.S. States: 3 to 15 business days (varies by state and backlog)

  • UK Administrative Restoration: 10 to 20 business days (after forms and penalties are resolved)

Need it faster? iFiler offers priority support and expedited services where available.

💡 iFiler Makes Business Reinstatement Simple

We help businesses worldwide reinstate their U.S. or UK companies with full compliance support.

What We Handle:

✅ Identify what caused dissolution
✅ Collect & prepare all necessary filings
✅ Submit state or Companies House paperwork
✅ Pay reinstatement and penalty fees on your behalf
✅ Guide you through bank or Stripe reactivation
✅ Ongoing compliance support to avoid future issues

You stay focused on running your business—we handle the paperwork.

🧠 Frequently Asked Questions (FAQs)

Q: Is it better to reinstate or form a new company?

If your company had assets, contracts, licenses, or brand equity—it’s better to reinstate and keep continuity.

Q: Can I reinstate my company after many years?

In the U.S., some states have a limit (2–5 years). In the UK, administrative restoration is only possible if your company was struck off within 6 years.

Q: What if I’m a non-resident?

No problem. iFiler helps non-U.S. and non-UK residents reinstate their companies remotely with full compliance support.

🚀 Reclaim Your Business with iFiler

Business dissolved? Don’t panic.
With iFiler, you can legally reinstate your company and get back to business—fast.

📦 U.S. & UK Reinstatement Services
📎 Penalty Clearance & Document Recovery
💼 Stripe, PayPal, Bank Re-Verification Support
📩 Support for Residents & Non-Residents

 

🌐 Start your reinstatement today at iFiler.us or iFiler.uk
 🛠️ Restore. Comply. Grow—with iFiler.

Amending Your LLC or Company: What You Can Change & How

Amending Your LLC or Company: What You Can Change & How

0 Comments

Amending Your LLC or Company: What You Can Change & How

Explains when and why businesses need to file amendments — and how iFiler simplifies the process.

Running a business means adapting to growth, strategy changes, or legal requirements. As your company evolves, you might need to update your official business records with the state or Companies House. This is where business amendments come into play.

Whether you want to change your company name, update ownership structure, or move to a new business address, filing an amendment ensures your records stay legally compliant.

At iFiler, we make this process fast, accurate, and stress-free — for both U.S. LLCs and UK Limited Companies.

📍 What Is a Company Amendment?

A business amendment is an official filing used to update details of your company that were included in its original formation documents.

These changes are filed with:

  • The Secretary of State (for U.S. LLCs and Corporations)

  • Companies House (for UK companies)

🔒 It’s a legal requirement to keep this information up to date. Failing to do so could lead to penalties, fines, or administrative dissolution of your company.

🛠️ What Can You Change Through an Amendment?

🇺🇸 In the United States:

  1. Business Name
    Want to rebrand? You must file a Name Amendment to legally operate under a new name.

  2. Business Address
    Update your principal office or mailing address.

  3. Registered Agent
    Change your registered agent or their address.

  4. Business Purpose
    If your company’s scope of activity changes significantly, update the “business purpose” field.

  5. Ownership Structure
    Add/remove members or change ownership percentages (may also require internal operating agreement updates).

  6. Management Structure
    Switch between member-managed and manager-managed LLC.

  7. Authorized Shares (Corporations only)
    Increase or decrease the number of shares issued.

📌 Each state has its own process, forms, and fees. iFiler handles filings in all 50 states.

🇬🇧 In the United Kingdom:

  1. Company Name Change
    Requires special resolution and filing Form NM01.

  2. Registered Office Address
    Must always be located in the UK; updated through Companies House.

  3. Company Directors or Secretaries
    Appoint new officers or remove existing ones.

  4. Share Structure or Capital
    Change number or type of shares, or issue new shares.

  5. People with Significant Control (PSC)
    Add or update information about beneficial owners.

  6. Articles of Association
    If you modify company rules, the updated articles must be submitted.

📌 iFiler submits changes directly to Companies House and ensures you meet all legal requirements.

⏰ When Should You File an Amendment?

You should file as soon as:

  • Your business undergoes structural or operational changes

  • You complete a rebrand or relocation

  • You need to update public records for legal or financial reasons

  • You’re applying for licensing, bank accounts, or funding and need up-to-date formation docs

❗Why Filing Amendments Matters

Filing an amendment ensures:

✅ Legal Compliance
Government agencies expect your company records to be accurate.

✅ Banking & Licensing
Banks, payment processors (like Stripe), and agencies rely on official records. Mismatches can delay or block approval.

✅ Transparency
Maintaining proper records builds trust with investors, partners, and customers.

✅ Avoiding Penalties
Failure to file can lead to government fines, late fees, or even company dissolution.

🧾 How the Amendment Process Works

Here’s how the process typically looks — simplified by iFiler:

🇺🇸 U.S. LLCs and Corporations:

  1. Identify the Required Form – Varies by state (e.g., “Articles of Amendment”).

  2. Provide Updated Info – Details like new name, address, ownership, etc.

  3. Pay the State Fee – Ranges from $25 to $150+.

  4. Submit to the Secretary of State – iFiler does this for you.

  5. Receive Confirmation – We deliver the approved amendment digitally.

🇬🇧 UK Companies:

  1. Pass a Resolution (if needed) – e.g., for name changes or share changes.

  2. Submit the Correct Form – NM01, AD01, AP01, SH01, etc.

  3. Companies House Processing – Usually takes 24–48 hours.

  4. Receive Confirmation – iFiler sends you updated company documents.

💡 Common Scenarios That Require Amendments

  • You’ve pivoted your business to a new industry or market.

  • You want to add a co-founder or issue equity.

  • You’re changing your branding (including name and domain).

  • Your company is moving to a new state or city.

  • You’re restructuring to raise investment or sell the business.

📦 How iFiler Simplifies Amendments

Whether you’re managing a U.S. LLC or a UK Limited Company, iFiler handles it all with accuracy and speed.

Our Services Include:

✅ Business Name Change Filing
✅ Registered Agent Update
✅ Address & Ownership Changes
✅ Director or Shareholder Updates
✅ Share Capital Adjustments
✅ Custom Operating Agreement or Articles Amendments
✅ Real-Time Status Tracking
✅ Professional Support for Non-Residents

🔐 Why Use a Filing Service Instead of DIY?

Filing your own amendment might seem simple, but small mistakes can lead to rejections, delays, or legal risk.

With iFiler, you get:

✔️ Compliance expertise
✔️ Accurate documentation
✔️ Fast turnaround
✔️ Ongoing support after filing
✔️ Peace of mind

💬 Ready to Amend Your Company?

Whether you’re changing your name, ownership, or structure—iFiler makes it simple. We handle every step and ensure your records stay up to date with the government.

🌐 Amend your U.S. or UK company now with iFiler.
📲 Visit iFiler.us | iFiler.uk or contact our support team to get started today.

🚀 Update. Adapt. Grow—with iFiler.

How to Start a Company in the UK: Step-by-Step Guide

How to Start a Company in the UK: Step-by-Step Guide

0 Comments

How to Start a Company in the UK: Step-by-Step Guide

A beginner-friendly walkthrough of forming a UK company, including paperwork, timelines, and best practices.

The United Kingdom is a highly attractive destination for entrepreneurs across the world. With a transparent registration system, affordable setup costs, and global trust in UK businesses, forming a company here can open doors to both local and international markets.

At iFiler, we help simplify the company formation process for both UK residents and international founders. Below is a complete step-by-step guide for registering a business in the UK with confidence.

📍 Step 1: Choose the Right Company Structure

In the UK, your company’s legal structure defines how it operates, is taxed, and how much liability you carry.

🔹 Common UK Business Structures:

  • Private Limited Company (Ltd) – Most popular. Offers liability protection, tax efficiency, and credibility.

  • Sole Trader – Simplest form but doesn’t protect your personal assets.

  • Partnership – For businesses with two or more people sharing responsibility.

👉 Recommended: Private Limited Company (Ltd) — flexible, professional, and scalable.

📍 Step 2: Choose Your Company Name

Your business name must be unique and follow UK regulations.

► Guidelines:

  • Cannot be identical to or too similar to an existing company.

  • Must end with “Limited” or “Ltd.”

  • Should not contain offensive or sensitive words without approval.

✅ iFiler checks your business name instantly to ensure it’s available.

📍 Step 3: Prepare Your Company Details

Before registering, gather and decide on the following:

► You Will Need:

  • Company address (UK-based)

  • At least one director (can be you)

  • At least one shareholder (can be the same person)

  • Share structure – typically £1 per share

  • SIC code – defines your business activity

  • People with significant control (PSC)

📌 Don’t worry—iFiler walks you through every step of this during the registration process.

📍 Step 4: Provide a UK Registered Office Address

All UK companies must have a Registered Office Address located in the UK.

► Important Notes:

  • It will be publicly listed on Companies House.

  • You can use your own office or home address.

  • Or use a virtual office address via iFiler for privacy.

📌 We provide UK Registered Office Services for local and international clients.

📍 Step 5: Register with Companies House

Now it’s time to officially form your company by filing with Companies House, the UK’s registrar of companies.

► What’s Filed:

  • Company name

  • Business address

  • Director(s) and shareholder(s) info

  • Share details

  • Articles of association (rules of running the company)

⏱ Timeline:

  • Registration usually takes 3–24 hours when filed electronically via iFiler.

📍 Step 6: Get Your Company Documents

Once registered, you’ll receive:

  • Certificate of Incorporation

  • Memorandum & Articles of Association

  • Share Certificate(s)

  • Company Number (CRN)

📁 These are official legal documents—iFiler provides digital copies instantly.

📍 Step 7: Apply for a UK Business Bank Account

Having a business bank account is essential for running your company professionally.

► Requirements:

  • Company formation documents

  • Proof of ID and address

  • Business description and expected transactions

📌 iFiler partners with digital-friendly UK banks and fintechs like Wise, Tide, Revolut, and Payoneer—perfect for non-residents and online businesses.

📍 Step 8: Register for Taxes (if needed)

Not all companies need to register for VAT or PAYE immediately—but some do.

► Tax Obligations May Include:

  • VAT Registration (if turnover exceeds £90,000/year or voluntarily)

  • PAYE Registration (if hiring staff)

  • Corporation Tax – HMRC automatically registers you after formation

  • Self-Assessment – if you’re taking dividends or income personally

📌 iFiler helps ensure your tax setup is compliant from the beginning.

📍 Step 9: Open a Stripe, PayPal, or Amazon Seller Account

If you’re running an e-commerce or service business, you’ll likely need:

  • Stripe or PayPal for payments

  • Amazon UK, Walmart, or TikTok Shop accounts

  • UK-based billing and identity verification

✅ iFiler provides Stripe/PayPal support, including business verification setup for international users.

📍 Step 10: Maintain Compliance & File Annual Reports

UK companies must keep up with regular filings and reports to stay active and avoid penalties.

► Annual Requirements:

  • Confirmation Statement (annually)

  • Company Accounts (due annually after 12 months)

  • Corporation Tax Return (filed with HMRC)

  • Maintain statutory records

📆 iFiler offers annual compliance services—reminders, filing support, and more.

🌍 Who Can Register a UK Company?

✅ UK Residents
✅ Non-UK Residents
✅ Foreign Entrepreneurs
✅ E-commerce Sellers Worldwide

You don’t need to live in the UK to open a company here. All you need is a UK address and compliant documents—iFiler takes care of the rest.

🔐 Best Practices for Success

  • Use a professional formation agent to avoid common delays or mistakes.

  • Keep all records and documents organized.

  • Separate personal and business finances.

  • Use a virtual address for privacy and professionalism.

  • Stay on top of deadlines with compliance services.

📦 How iFiler Can Help You

We specialize in UK company formation for founders worldwide:

✅ Private Limited Company Registration
✅ UK Registered Address & Mail Forwarding
✅ VAT & PAYE Setup
✅ Business Bank Account Setup
✅ Stripe, Amazon, PayPal Guidance
✅ Annual Filing & Tax Compliance

Whether you’re forming a UK company for e-commerce, consulting, or international trading—iFiler makes it fast, secure, and stress-free.

💬 Ready to Start Your UK Company?

 

Visit iFiler.uk to begin your registration today.
🚀 Form. Launch. Grow—with iFiler.

How to Start a Company in the USA: Step-by-Step Guide

How to Start a Company in the USA: Step-by-Step Guide

0 Comments

Step-by-Step Guide: How to Start a Company in the USA

A beginner-friendly walkthrough of forming a business in the USA, including paperwork, timelines, and best practices.

Starting a business in the United States is an exciting opportunity, whether you’re a U.S. resident or a non-resident entrepreneur. But between choosing a business structure, filing paperwork, and staying compliant with U.S. laws, the process can feel overwhelming—especially for first-timers.

At iFiler, we specialize in simplifying this journey. Below is a step-by-step guide that breaks down each part of forming a U.S. company—whether you’re building a local service business or launching an online e-commerce brand.

📍 Step 1: Choose Your Business Structure

The first decision is selecting the right legal structure, which affects taxes, liability, and compliance.

🔹 Common Structures:

  • LLC (Limited Liability Company) – Best for small to medium businesses. Offers liability protection and flexible taxation.

  • Corporation (C-Corp or S-Corp) – Ideal for larger startups or those seeking investors.

  • Sole Proprietorship – Simplest form, but not recommended due to lack of liability protection.

  • Partnership – For businesses with two or more owners.

👉 Best for Beginners: LLC — it’s affordable, simple to manage, and suitable for most new business owners.

📍 Step 2: Choose a State to Register In

You can form your company in any U.S. state, regardless of where you live.

► Popular States for LLCs:

  • Delaware – Business-friendly laws and privacy protections.

  • Wyoming – Low fees and strong asset protection.

  • Texas / Florida / California – Good for local operations with physical presence.

📌 If you’re a non-resident, states like Wyoming or Delaware are ideal for remote online businesses.

📍 Step 3: Name Your Business

Choose a unique business name that complies with state naming rules.

► Tips:

  • Must not match existing businesses in the state database.

  • Include designators like “LLC,” “Ltd.,” or “Inc.” where required.

  • Avoid restricted words (e.g., “Bank,” “Insurance,” unless licensed).

✅ Use iFiler’s Business Name Check tool to ensure availability.

📍 Step 4: Appoint a Registered Agent

A Registered Agent is a person or company responsible for receiving legal documents on behalf of your business.

► Requirements:

  • Must have a physical address in the state of formation.

  • Must be available during business hours.

📌 iFiler offers Registered Agent Services in all 51 states—perfect for both residents and foreign entrepreneurs.

📍 Step 5: File the Formation Documents

To officially form your company, file the required documents with the state.

► For LLCs:

  • Articles of Organization (or Certificate of Formation)

► For Corporations:

  • Articles of Incorporation

⏱ Timeline:

  • Processing time varies by state: 1–3 business days (expedited) to 2–4 weeks (standard)

📎 iFiler handles this step for you—fast, accurate, and fully trackable.

📍 Step 6: Apply for an EIN (Employer Identification Number)

The EIN is your company’s tax ID number, issued by the IRS. You’ll need it to:

  • Open a U.S. business bank account

  • Hire employees

  • File taxes

  • Apply for payment processors (e.g., Stripe, PayPal)

📌 iFiler helps residents and non-residents obtain EINs—no SSN required.

📍 Step 7: Create an Operating Agreement (LLCs only)

This is an internal document outlining how your LLC will be managed.

► It covers:

  • Member roles and ownership

  • Voting and profit-sharing rules

  • Exit strategies

📄 While not required in all states, it’s highly recommended, especially for multi-member LLCs. iFiler provides customizable templates.

📍 Step 8: Open a U.S. Business Bank Account

Having a separate bank account is essential for legal protection and smooth operations.

► What You’ll Need:

  • Formation documents

  • EIN

  • Passport or ID (for non-residents)

  • U.S. address (or virtual office)

🟢 iFiler can help with remote-friendly banking solutions (like Payoneer, Mercury, Wise, etc.)

📍 Step 9: Comply With Ongoing Requirements

To stay compliant, businesses must fulfill annual and state-level obligations:

► Common Requirements:

  • Annual Reports

  • Franchise Tax (varies by state)

  • Federal & State Tax Filing

  • Business Licenses (if applicable)

📝 iFiler offers reminders, renewals, and tax filing support to keep your business in good standing.

📍 Step 10: (Optional) Apply for ITIN (for Non-U.S. Residents)

If you’re a non-resident and don’t have a Social Security Number (SSN), you may need an ITIN for tax reporting, banking, or Stripe/PayPal verification.

📌 iFiler helps international founders apply for IRS-certified ITINs.

🌍 Who Can Start a Business in the USA?

✅ U.S. Residents
✅ Non-U.S. Residents
✅ Foreign companies & individuals

There’s no citizenship requirement to form a company in the U.S.—you don’t even need to visit the country physically.

🔐 Best Practices for a Smooth Start

  • Use a reliable filing service like iFiler to avoid errors or delays.

  • Keep your personal and business finances separate to protect your liability.

  • Stay compliant—file annual reports and taxes on time.

  • Protect your brand with trademark registration (iFiler can help).

📦 How iFiler Can Help You

At iFiler, we simplify U.S. company formation with:

✅ LLC & Corporation Formation
✅ EIN, ITIN, Registered Agent
✅ Annual Compliance & Tax Filing
✅ Business Banking & Stripe Setup
✅ Support for Amazon, Walmart, TikTok Stores

Whether you’re just starting or expanding into the U.S. market, we make the process simple, affordable, and fast.

💬 Ready to Get Started?

Contact our support team to begin your U.S. business journey today.
🚀 Start. Scale. Succeed—with iFiler.

Twitter
Facebook
Youtube
Linkedin
Instagram