IncFile Review: Are they the LLC Service to use in 2020?
IncFile has been our number one pick LLC formation service throughout 2019. This is because they offer excellent value for money and a good range of reliable services.
Their 1 year free registered agent service even on the basic package is also one of the best deals on the LLC formation market.
However, as we move into the new year, the industry has definitely picked up in terms of competition. New offers from the likes of Inc Authority and the ever-present NorthWest Registered, give the new business owner a wide range of options.
Mind you, IncFile has reacted in a way that should help them maintain their edge. They are now offering an amazing price for their entry package: $0 + state fee. (How that works in terms of their bottom line is difficult to fathom).
To walk you through IncFile’s services for 2020, we have asked one of our readers that recently formed an LLC using that basic, no-fee package, to give us the lowdown.
Here’s what they had to say…
Hello all, my name is Mia and I recently started an LLC based in Illinois. It’s for my new Interior Design Company. (Woo Hoo!).
Anyway, I opted for IncFile because of their free package plus state fee.
I will admit that I knew nothing about forming an LLC before starting this process, and it was the review on Vault50 that swayed me towards using them.
I got in touch with the V50 editorial team with a couple of questions and the next thing you know, I’m a contributing writer.
Let’s get on with the review though shall we?
Who are IncFile?
I know this has been covered in greater detail elsewhere, but in brief, IncFile is an LLC formation service based in Houston. Using their website you can access their services wherever you live in the USA however.
They’ve been around for a number of years (over 15 I think) and specializes in providing registered agent services and business formation services for people like you and me – the small business owner.
Their website states that their staff that deal with each application has at least 6-year experience of providing formation services, (another little plus point that made me want to use them).
Also, the IncFile website is really easy to use. The online ordering process of LLC formation is streamlined and you can monitor how things are going along the way.
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The 10 types of LLCs that IncFile can Form
I only needed a domestic LLC, as I am not in a position to travel around the country working with clients too far from home. (A domestic LLC only allows you to work in your registered state; I would need a Foreign LLC if I was to be offering services further afield.)
If you are looking into using IncFile, here’s a list of the types of LLC they are licensed to form.
IncFile 3 main LLC Formation Packages
IncFile LLC formation packages are bundled into the following three types (levels of price tiers); the Silver package, the Gold package, and the Platinum package.
As explained by David in the introduction, I opted for the $0 + state fee (which was $154) to form my LLC.
I will talk about my experience using that basic package below.
First, I’ll list the services you can expect with each package.
The silver package ($0 + State Fee)
The premium services that can be added to the Silver Package are:
- EIN/FTIN obtainment,
- preparation of an operating agreement and company by-laws,
- provision of business contract templates,
- banking resolution, and corporation organizational meeting minutes,
- preparation and submission of IRS Form 2553 that qualifies the special categories of organized business entity as an LLC.
All the above premium services are included within Gold Package.
The Platinum package features everything I have listed so far, however Business Contract Templates and a free business domain name and email service (for a year) are included too.
Easy Customization of services
If you head to the signup page on the Incfile website you will see how easy it is to customize your package.
For example, after choosing the Silver package I was able to scroll down the page and tick any of the premium services that I wanted and the fee would automatically be added to the overall price.
Essentially, it allows you to easily select the most appropriate services for your specific needs.
Using IncFile’s LLC Services
This sort of brings me nicely to my overall experience using IncFile.
As I have already mentioned, I had no idea what to expect coming into this.
To start with I was overwhelmed by the range of companies providing LLC formation, the different price plans, even the different types of company you can form. It made my head spin if I am honest.
It helped a lot coming across Vault50’s top 5 LLC services review. This narrowed down the options.
After checking out IncFile, their price and easy to use website really did sway me.
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I loved the fact they had a lot of resources accessible without the need to signup for anything.
I spent a good deal of time on the site looking through the Learning Center. This had a ton of useful information that helped reassure me as to what type of LLC I needed, (I’d never heard of things such as Foreign or Domestic LLCs before that).
Choosing a Package
With the knowledge gained from the site I was then able to move onto the officially applying for my LLC.
Again, the website made this a breeze, even for a novice like me.
You can’t miss the two tabs at the top which ask for your entity type and then the state of formation.
Click get started on that, and everything else follows very intuitively indeed. The price was completely transparent; as was the level of service I was going to get.
It is all there, clear as day.
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The application process
After selecting a package, it was on to providing contact information, the details needed for Incfile to handle my LLC formation, and of course payment.
Again, this was a far simpler process than I was expecting. In all, it took me about 10 minutes.
After providing my details I was given login details and then had access to the IncFile tracking dashboard so I could see how the process was going.
Tracking Formation & Receiving Documents
I had no need to opt for the fastest formation turnaround and next day delivery of documents.
However, the process from filling in the details online and receiving my formation documents in the post was less than a week.
In that time I was able to see exactly when the documents had been sent to the state for filing, (this took less than 24hrs) and then when the state and completed whatever bureaucracy was required their end.
I was then notified once the delivery of the docs was underway.
My Experience using IncFile: Any Complaints?
It is hard to fault a service if you have had no problems with it. Admittedly I have no frame of reference; this is the only LLC service I have ever used.
Furthermore, I only used their Silver package. This basic option had everything I could possibly need to get started.
For those that wish to employ people, they would be advised to opt for the Gold Package as this features the premium options related to dealings with the IRS, (I opted to take care of this as and when myself).
If I was to complain, its that the addons do add up if you go for the silver package and wish to customize with some premium features.
In fact, as you experiment with extras it soon becomes worthwhile to opt for the Gold deal instead. I guess that’s how IncFile aims to make money; lure you with the free Silver option and then dangle the carrot of more.
This is where things can get expensive however if you want them to take care of everything.
That being said, all prices and related services are very transparent so there is no question of being duped.
- Related Content: Inc Authority Review – Should you use their LLC formation service?
Pros & Cons of using Incfile
Overall I loved my experience forming my LLC with IncFile. I was on a budget and they delivered everything I needed at an amazing price.
The process was easy because of their great website, and the application part is very streamlined.
For those wanting all the frills, the price can quickly add up. However, if you know what you need (and their learning center makes that possible), you will not be disappointed. These guys are pros.
Ah, and to answer the question posed in the title, in my opinion IncFile are the ones to use in 2020. 🙂