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Delaware Division of Corporations Updates: June 2023

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This month, the Delaware Division of Corporations announced a number of updates relevant to corporate, compliance and registered agent services. Highlights include: 

 

  • No more 24-hour swap. As of Monday, June 12, the state has stopped and will no longer honor the “24-hour swap,” a policy that allowed for filed documents to be edited or changed within 24 hours of submission. Instead, a formal Certificate of Correction will be required. This applies to all entity types and all expedite levels.

 

  • Fees are increasing for new formations. The Delaware House and Senate have passed SB110 which increases the courthouse municipality fee portion of the filing fees assessed on all LLC and corporate filings from $20 to $40. The bill is expected to be signed by the Governor. August 1, 2023, is the expected effective date. The fees for LP filings are not affected.

 

  • Usage of registered agent address for annual reports. Corporations are not permitted to use the address of their Registered Agent when filing annual reports. In the coming months, the state will suspend all annual reports that appear to be using the agent as the primary place of business, and alert the agent. The state will give suspended entities 45 days to file a correction or appeal the suspension. After 45 days, entities will cease good standing. Responsible agents will alert their customers if their entity is suspended. Please reach out to us if you are concerned about this issue.

 

  • Corporate Transparency Act updates. While FinCEN is planning to roll out the beneficial owner requirements of the Corporate Transparency Act on January 1, 2024, there are still some major hurdles to overcome. Many terms are still not clearly defined, the database is still not built, and filing instructions and other educational materials have not been developed. This is a space we’re monitoring closely. Don’t hesitate to reach out with any questions.

 

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Corporate Filing Cut Off Times Reference Guide

At Incserv, we know time is of the essence — especially when it comes to corporate filings. That’s why we put together a handy Cut Off Times Reference Guide that covers the 10 jurisdictions where we see the highest filing volume. But remember! We provide business services in all 50 states, Washington, D.C. and even international jurisdictions.

Grab your copy below!

 

cutoff times guide

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Team Member Spotlight: Aryn Taylor

At Incserv, our people are what make the difference – and we’re excited to introduce the folks that make this place special. Each quarter, we’ll profile an Incserv team member, sharing a little bit about what they do, how they got here and what matters to them outside the world of incorporating services. In this installment, we sit down with registered agent specialist, Aryn Taylor.

 

Appreciate you taking the time, Aryn. Let’s hear about what you do at Incserv.

Happy to. So I’ve been with Incserv for a little more than two years now. I’m a registered agent (RA) specialist. For the last six months or so, I’ve been focused on our RA services, pulling reports from the state [of Delaware], auditing them against what’s in our system and making sure everything is accurate. It’s a lot of fact finding, but I really like it. It’s a lot of fun. 

Where were you prior to Incserv? 

I was actually in Connecticut. I moved down here in 2021. I was really drawn to the change of pace. Instead of living in what is essentially New York City extended, you get a minute to breathe here. 

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And workwise, it was pretty much a 180. Before I found Incserv, I was in healthcare for 

both humans and animals. I worked two jobs, one at Quest Diagnostics, the other in a 24-hour emergency animal hospital. But there

was a lot that applies to the work I’m doing now. All three are fast-paced environments and data intense.

And so how’d you find Incserv? 

Sort of by accident, I guess! I saw the role on Indeed, thought it sounded interesting and applied. [Incserv president] Stacey [Melnick] reached out and here we are.

How about outside of the office? 

I’m definitely a homebody, but I have lots of creative interests. Back in Connecticut, my sisters and I would submit works to Stamford Downtown’s “Art in Public Places” initiative. One year it was horses, another it was dinosaurs. Another was pianos. My piano was titled “Sound of Color.” I’m also a published author and am currently working on a fantasy series. 

 

sound of color

 

That’s awesome. Does any of that tie back to your work at Incserv? 

You’d think not, but getting creative is a big part of my job and who we are as a company. We’re always working to solve challenges, and more often than not, that requires new ideas. 

Well said, Aryn. Thanks again for taking the time to chat. 

Absolutely!