I have had several Colorado LLCs (single member LLCS with one single family residential rental per LLC, so very small-time) for a decade, and always file my periodic report so am in good standing with the Colorado Secretary of State, but have only just heard that I need to file a BOI report before the end of the year.

However, managing multiple LLCs can mean higher costs and administrative work (separate bank accounts, annual filings, etc.).It depends on your risk tolerance and ability to stay organized.

Also there could be a good chance the borrower files BK if they are still alive.

They sent me the Excel files over and I was made to believe it was optional.

A good way to avoid this in this future is to use a vendor worksheet/package that request the pertinent contact information along with a document request for the filed out W-9, copy of business license, Worker comp and liability insurance certificates.

Be sure you have registered ALL your Corporations and LLCs by December 31, 2024Failure to file is a $500/day/entity fine!

Your company is just slow to file their updates, which in this case is in your favor.

Separate LLC per Property: Maximizes liability protection but adds complexity and costs with individual tax filings.3.

That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.

You should file a claim against the title company.