Change of Address with Sunbiz
Updating a Manager's or Director's residential address on Sunbiz is essential for Florida LLCs and corporations to maintain compliance and ensure receipt of critical legal notices. If a Shareholder or Manager of your Florida LLC or Corporation changes their residential address, it’s vital to update this information on Sunbiz, the official website of the Florida Department of State.
Additionally, considering the new Beneficial Ownership filing requirements in the United States, it’s imperative to update your Beneficial Ownership Information Report with FinCEN within 30 days of the address change.
This article will walk you through the necessary steps to make these updates both with Sunbiz in the State of Florida and with FinCEN, helping your LLC or Corporation stay compliant and avoid potential penalties.
Why Updating Your Residential Address is Important
Keeping your residential address current with the Florida Department of State is not just a legal obligation—it’s critical for legal communications. An outdated address can lead to missed important documents, such as legal notices or government correspondence, potentially resulting in fines, penalties, or other legal issues for your business.To change the address of any Officer, Manager, or Director of a Florida business with Sunbiz, you must do so on this website.
Prepare Necessary Information:
Ensure you have the following details ready before starting:
- Name of the Business Entity
- Florida Department of State Document/Registration Number
- Current email address for Sunbiz communication
- New email address (if applicable)
- New Federal Employer Identification Number (FEIN) (if applicable)
- New principal office street address (cannot be a P.O. Box)
- New mailing address (if different from principal address, can be a P.O. Box)
Complete the Form:
Name of Business Entity: Enter the full legal name of your business.
- Florida Department of State Document/Registration Number: Enter your entity’s unique registration number as assigned by the Florida Department of State.
- Current Email Address: Provide the current email address that Sunbiz can use to contact your business if needed.
- New Email Address (If Changing): If you are changing the entity’s email address, enter the new email address here.
- New EIN (If Changing): If you are adding or changing the Federal Employer Identification Number, enter the new EIN.
Principal Office Address:
- Street Address: Enter the new street address for the entity’s principal office. Note that P.O. Boxes are not acceptable for this section.
- City: Enter the city of the new principal office address.
- State: Enter the state of the new principal office address.
- Zip Code: Enter the zip code for the new principal office address.
Mailing Address (If Different):
- Street Address: Enter the new street address for the mailing address. P.O. Boxes are acceptable in this section.
- City: Enter the city of the new mailing address.
- State: Enter the state of the new mailing address.
- Zip Code: Enter the zip code for the new mailing address.
Review for Accuracy:
- Double-check all the information entered to ensure that it is accurate and complete. Any errors could lead to delays or incorrect updates.
Submit the Form:
- Submit the completed form according to the instructions provided by Sunbiz. Make sure to follow any specific submission requirements, such as online submission or mailing instructions.
Pay Any Applicable Fees:
- If there are fees associated with these changes, ensure they are paid promptly to avoid processing delays. These fees tend to be $25 for LLCs and $35 for Corporations.
Confirmation and Record Keeping:
- Once submitted, keep a copy of the completed form and any confirmation of submission for your records. This ensures you have documentation in case of any future inquiries or issues.
Updating Beneficial Ownership Information with FinCEN
Once your residential address is updated on Sunbiz, it's crucial to update your Beneficial Ownership Information Report as well. Under the Corporate Transparency Act (CTA), corporations, LLCs, and similar entities must report information about their Beneficial Owners, including their residential addresses.
a. Understand the Beneficial Ownership Requirements:
- Beneficial Owners are individuals who own or control 25% or more of the company or exercise substantial control over the business. The CTA requires that this information is kept up-to-date.
b. Gather Necessary Information:
- Collect the names, new residential addresses, dates of birth, and identification numbers of all Beneficial Owners, ensuring that the new address is reflected in the report.
c. File the Updated Report:
- Update your Beneficial Ownership Information Report with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN). Make sure the updated residential address and any other changes are accurately reflected.
d. Keep Records:
- Maintain a copy of the updated report for your records and for future compliance checks.
Why Timely Updates Are Essential
Failing to update your residential address on Sunbiz and your Beneficial Ownership Information Report can have serious consequences. Penalties for non-compliance with the CTA can include significant fines of $500 per day of up to $10,000. Moreover, having incorrect information on file with Sunbiz can lead to legal complications, missed notices, and potential damage to your personal and business reputation.
a. Avoiding Legal Risks:
- Non-compliance with address update requirements can expose you to legal risks. If important documents are sent to the wrong address, you may miss crucial deadlines or legal notices, leading to negative outcomes such as default judgments.
b. Ensuring Smooth Business Operations:
- Keeping your residential address and Beneficial Ownership information current ensures that your business operations continue without disruption, including interactions with banks, tax authorities, and government agencies.
Conclusion
Updating your residential address on Sunbiz and ensuring that your Beneficial Ownership Information Report is current are essential steps in maintaining your legal standing and compliance. Our corporate law firm understands the importance of these updates and is here to assist you with any legal guidance you may need. Contact us today to ensure your personal and business information is accurate and compliant, helping you avoid potential risks.
Della Torre Law PLLC
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