IncFile LLC Service Review (Advantages & Disadvantages)
November 14, 2019
IncFile opened their doors in 2004 and they’ve become one of the most popular LLC formation services since, forming over 250,000 businesses.
There are a lot of services that can help you form an LLC online, but IncFile has managed to carve out a prominent space for themselves in this highly competitive industry – recently becoming as popular as LegalZoom.
This IncFile LLC service review outlines all of the key factors to keep in mind when considering using their LLC formation services.
Advantages & Disadvantages
Advantages of IncFile:
– Starting at the low price point of just $49, they’re the most affordable LLC formation service currently available and charge $50+ less than LegalZoom.
– IncFile has plenty of experience, with over 250,000 businesses formed since they opened in 2004.
– Even though their prices are lower than all competitors, there’s a full year of registered agent service (which is a requirement for all LLCs) included in every LLC formation package offered by IncFile.
– If you start an LLC with IncFile, they include lifetime company alerts that send you emails whenever there’s a deadline coming up for annual reports, business licenses, statements of information, and more. Without this feature, you’ll have to keep track of all this stuff yourself, which can be a real hassle.
– IncFile receives fantastic customer feedback. Not only do they maintain high average rating scores, but they have several thousand reviews (currently over 10,000) available online.
– They usually have good customer service. IncFile’s support reps are knowledgeable and friendly, and all of their clients receive unlimited phone and email support.
Disadvantages of IncFile:
– In the past, IncFile’s customer support has been difficult to reach at times. While it’s certainly not the norm and they’ve gotten much faster in 2019, on occasion we’ve had to wait 24+ hours to get responses to some of our questions. While this is common in the industry, for the most part Northwest is the one LLC service that has slightly faster response times and goes above and beyond with every answer to our question.
IncFile LLC Formation Packages
IncFile has three options for LLC formation packages, each with its own combination of pricing and features. If you’d like to check out the full details of each option for yourself, you can check out their pricing page.
– Preparation and Filing of Your Articles of Organization: The articles of organization are the documents required to form your new LLC. IncFile will draft these documents and file them with your state to officially create your business.
– Name Availability Searches: They search your formation state’s business database to make sure that your desired business name isn’t already taken by another entity.
– One Year of Free Registered Agent Service: A registered agent (legally required to form an LLC) accepts important documents on behalf of your business, then forwards them to you. This person or entity provides privacy protection for you personally, while also ensuring you never miss a delivery. IncFile provides this service free for one full year, after which there’s a $119 annual fee, but there’s absolutely no obligation to renew this service.
– Unlimited Phone and Email Support: If you have a question or concern, it doesn’t matter if you formed your LLC last week or last year ― their support reps are available to help you via phone from 10am to 7pm ET weekdays.
– Order Status Tracking: IncFile’s slick real-time tool lets you know what step your order is in at all times.
– Business Tax Consultation: A 30-minute (no-obligation) consult session with a certified tax professional. You can ask them any questions you may have about the tax rules and regulations that apply to your business.
– Lifetime Company Alerts: IncFile will send you email notifications throughout the life cycle of your LLC to inform you of upcoming filing deadlines for documents like annual reports and business licenses.
– Online Document Access: As soon as your state of formation returns your filed documents to IncFile, they’ll post them to your online client dashboard and notify you that they’re ready to view and download.
Gold = $149 + State Fee
Includes everything from the Silver package, plus…
– Employer Identification Number (EIN): This is a 9-digit number that essentially works as a Social Security Number for your business. With an EIN, you can open a business bank account, file business taxes, hire employees, and more. You can acquire your own EIN relatively easily from the IRS, but IncFile can save you some time and effort by doing it for you.
– Custom Operating Agreement: An operating agreement is a document that outlines the ownership structure of your business, along with laying some ground rules for the way your company will operate. IncFile will prepare this custom document for you.
– Express Shipping: IncFile will ship a hard copy of your filed articles of organization to you using express shipping (1-3 business day delivery), with a tracking number.
– Banking Resolution: This document can help you open a business bank account, but if you have an EIN it’s a bit redundant.
– Gold Business Formation Kit: A box with your company’s name on it, with a transfer ledger and document organizing tabs inside.
– S Corporation Tax Form Preparation: This feature applies to very few LLCs at this stage, but if you decide to have your business taxed like an S Corporation, IncFile will prepare and file the relevant forms with the IRS.
Platinum = $299 + State Fee
Includes everything from the Gold package, plus…
– Expedited Document Filing: If your state of formation offers expedited service, IncFile will choose that option. Depending on which state you form your business in, this can cut your turnaround time from a matter of weeks down to a matter of days.
– Sample Document Library: You’ll get access to IncFile’s legal contract templates. This is a library of 25+ commonly used business forms and documents written by an attorney that you can customize for your needs.
– Business Website and Domain Name: Through IncFile’s partnership with a web development service called SnapWeb, you’ll receive a professionally designed basic website from a pre-made template. If you leverage this feature, you’ll still be liable for SnapWeb’s $20/month hosting fee, and the free domain only applies if you sign up for their annual subscription.
IncFile Customer Reviews
IncFile has so much experience in the industry (15 years) that it’s easy to find customer feedback, which can give you a glimpse of what to expect as one of their clients.
We dove into IncFile reviews all across the web, and determined that their customers experience some pretty clear-cut pros and very few cons. If you want a more complete picture of their feedback, feel free to check out their many individual reviews, but in general their customers enjoy the simplicity of IncFile’s services, as well as their affordable prices.
In short, very few competitors can hold a candle to IncFile’s superb customer reviews.
– Shopper Approved: 4.8 out of 5 stars (10,151 reviews)
– Better Business Bureau: 4.8 out of 5 stars (93 reviews)
Should You Form an LLC with IncFile?
When it comes down to making a choice, IncFile generally has more advantages than disadvantages. Here are some scenarios where you should or shouldn’t use IncFile for LLC formation service.
When To Use IncFile:
If you’re on a budget but don’t want to completely sacrifice when it comes to features, IncFile is one of the top LLC formation providers in the industry. We don’t hesitate to recommend them to most entrepreneurs, especially considering their low prices paired with a year of registered agent service.
When NOT To Use IncFile:
The only time we wouldn’t advise using IncFile is if you foresee requiring lots of customer service assistance. If you either need extensive help or have a fairly complicated situation, we recommend Northwest, which has much better customer support.
After reviewing and ranking all LLC formation services, IncFile came out as one of the best LLC services due to their excellent overall value and highly rated customer reviews. They offer far more features than popular services like LegalZoom while charging $50 less