LLC addresss - update when I move?

[Todd Kozak]

My lawyer set up my LLCs a few years ago and used my home address as my LLC address.

I moved. The LLC address now points to someone else's home.

I opened a PO BOX to use for any mail for my LLCs which is really none. 

Should I or does it matter if I update the LLC address? The PO Box mainly won't get used but in future I plan to use the address with any tenents.

What are pros and cons of leaving LLC addresses as is vs updating it to my new PO BOX. I'm not worried about mail going to the old house because right now I don't have any mail sent to the LLC.

[Greg Scott]

If the government wants to send you a notice or you get sued, it will likely go to your address of record for the LLC. I definitely would want the mail to go to the correct place.

If someone wanted to sue you, the fact that you ignored changing your address would be a good argument that you are not maintaining corporate formalities, potentially having the protections of your LLC ignored.

Most states have annual filing requirements for the LLCs so that would be a good time to update it.  Meanwhile, you can have USPS forward any mail that might come.

[Bill Hampton]

@Todd Kozak

If you were running any other type of business would you want to use the correct address?

[David Krulac]

@Todd Kozak  The Federal FinCen new regulation called the Corporate Transparency Act (CTA) requires ALL LLCs/Corps to register by December 31, 2024.  The penalty is $500 a day up to $10,000 and two years in Federal Prison.  FinCen not having your correct "STREET" address, no PO Boxes, and no private Boxes are allowed, and you would be in violation.  For this fine piece of legislation, designed to stop money laundering thank Senators Warren and Sanders.   There are exemptions for LLCs/Corps that employee more than 20 employees or have annual income of more than $5 million, because every body know money launderers never have more than 20 employees or make more than $5 million a year.

[Drew Sygit]

@Todd Kozak can't use a PO Box for legal address, only for mailing address.