Anyone form an LLC in PA? I have a couple of questions. I plan on getting a UPS mail box. I'm looking to get a register agent so that I can separate my business from my home address.
1 - For bank accounts, i was told by one bank that statements need to go to my register agent's address. I do not want this, are they BS-ing me? I don't mind having my bank account tied to my apt number, just not anything else that can be viewed publicly.
2 - Can I use a UPS mail box for tax return? I can't locate in the LLC form where it ask for "physical address" of the company. I am working from my apartment.
I think that Bank is pulling your leg. You can be located in one place and all your mail being sent to a PO Box. So I don't see how it's possible that they won't do it. If they are pretty adamant about it I'd consider a different bank.
Additionally in NEPA you may not be able to receive mail at your physical address.
For question 2 I'd talk to your accountant to clarify this if you don't have one find a good one and ask because IRS rules is something that can change based on which way the wind blows so it's good to have a professional that knows the rules.
Actually, what your bank is doing is quite common. When you've registered your LLC, you're providing a legal address. If you're using the registered agent services, then that means that any official documents have to be delivered to that address.
Given the concerns around money laundering, and making sure people pay taxes and are held accountable, Banks do tend to look up your registration documents, and use the address provided by the Secretary of State. Also keep in mind that after several bad experiences with LLC's that use PO boxes for their address, I now am very careful about how I work with those companies. I'm not saying that you'll be the same, or even that all companies that do this are suspect, just letting you know that there are a lot of shady people who use this method to help obfuscate their information in order to avoid things like court paper service.
If you're very concerned about this, I would recommend an attorney or accountant, but given my experiences (both as the founder of several LLC's and in working with several small businesses), I would guess the banks are following some money laundering type regulations.
I've done both for a Delaware Corporation with a bank/credit union in California. I'm not sure why a PA bank would have different requirements on the mailing address matter which seems pretty uniform across the US. Try checking with another bank.