Project managing a Delaware LLC annual renewal

In June 2020, our Client purchased a Delaware turnkey solution company from Healy Consultants Group.The turnkey is a single member LLC company. The company specializes in procurement of PPE from its warehouse facilities in China and then Africa and thereafter making B2C.

Since 2020, every year Healy Consultants’ in-house Accounting and Tax Department is responsible for the timely, accurate and complete discharge of our Client’s statutory USA legal, accounting, and tax obligations.

In May 2021, we were re-engaged by our Client to assist them with the annual renewal of their Delaware company. The Client paid our renewal invoice including i) renewal of Delaware registered agent and legal registered office services ii) mail forwarding from our Delaware affiliate’s office iii) payment of annual Delaware franchise tax to the Delaware Division of Corporations and iv) preparation of dormant financial statements.

Engagement planning

I emailed my Client a detailed engagement project plan outlining i) total expected Delaware renewal fees ii) documents required to progress the renewal iii) the weekly and monthly deliverables iv) timeline to complete the engagement and v) any expected engagement problems and solutions. This detailed project plan helps our multi-national Clients visualise the engagement over the coming months. Therefore, our Clients can plan and prepare the necessary documents to efficiently and effectively complete the required renewal steps in a timely manner.

Engagement execution

  • Healy Consultants’ Delaware affiliate is the registered agent and provides the Delaware registered office address for my Client. This service was automatically renewed when my Client settled the renewal invoice.
  • Healy Consultants’ Delaware affiliate office provides a mail forwarding service for my Client’s Delaware company. This service was automatically renewed when my Client settled the renewal invoice.
  • To ensure the good standing of a Delaware company, an annual Franchise tax payment is made to the Delaware Division of Corporations. I paid this fee and sent a scanned receipt to my Client confirming that this had been completed in a timely manner.
  • Because my Client’s company has been dormant from the time of transfer, I assisted to prepare a dormant financial statement which was sent for the director’s signature following her review and approval.
  • Throughout the period of the engagement, our team supplied weekly detailed engagement status updates to our Client, providing an overview of engagement progress, as well as problems and solutions (if any);

Engagement completion

Once all of the above was completed, I sent a Summary of Obligations to the Client, including:

  • Signed Delaware registered agent renewal agreement.
  • Signed registered office renewal agreement.
  • Receipt confirming franchise tax payment had been paid to the Delaware Division of Corporations.
  • Signed dormant financial statements to ensure proper maintenance of accounting records.
  • Paid renewal invoice.

My Business Website Department also requested a professional reference from my Client.

Contact us

For additional information on our incorporation services, please contact our in-house country expert, Ms. Priyanggah Sivabalan, directly:
Consultant at HC - priya