Are you planning to start a business and use registration services to save time and avoid hassles? There are several options out there, some better than others, but, in this review, I’ll focus on the one you may not have heard of ie, Filenow.
Relatively new to the market, they are starting to draw attention, promising the fastest service and the highest value for the money. But you’ve surely seen your fair share of promises that never come true. Is that the case with Filenow? Let’s find out!
Filenow Review 2021: Is It Worth The Hype?? (TRUTH)
Detailed Filenow Review
The company was started in mid-2018, in New York City, NY, but the first customer reviews date is from early 2019. That’s also when they were accredited with the Better Business Bureau, with which they hold an A rating.
They present themselves as a team of experienced lawyers, entrepreneurs, and tax experts aiming to simplify and expedite the company formation process through their service. Judging by their easy to navigate and intuitive website and by the high amount of easy to understand information, they seem to know what they are doing.
Filenow Services Review
The company focuses on business formation services. These are available in two main packages: Starter, and Premium. These service packages apply to all entities: LLC, Corporation, and S Corporation.
For each entity, Filenow provides in-depth information:
- Differences from other entities
- Types of entity available
- Registration requirements.
This makes it easy to choose what type of business entity you wish to form. If it’s not enough, Filenow makes the choice even easier, providing you with a free tool to help you assess your needs. All you have to do is answer a few questions and they will use your answers to help you identify the best option.
Company Formation Packages Offered By Filenow
No matter the type of entity you decide to form, Filenow lets you choose between two packages: Starter ($49) and Premium ($149). The former contains only the essentials and is a good option if you’re looking to keep costs as low as possible. The latter provides everything you need to start operations and can save you a great deal of time and trouble.
The coverage of both packages is impressive:
- Free 1st year of Registered Agent for 1st Year (worth $119)
- Free EIN / Tax ID number (worth $75)
- The 15-minutes easy filing process
- 24-hour order processing
- Company alerts
- Email, chat, and phone support
- Timely tracking of order status
- Electronic delivery
- Express tracked shipping with FedEx
- Error-free guarantee
On top of all these, the Premium package also includes a top-quality company kit, with binder and seal, to help you protect your most important documents, and the banking resolution required to open your company bank account.
Federal Tax ID / EIN – $75
Included for free in both company formation packages, the EIN is the equivalent of your social security number but for businesses. It is a unique nine-digit number that identifies you to the IRS. You’ll need it to pay taxes, for payroll, and for opening a bank account or taking a business loan.
Application for Authority – $149
This document enables you to operate outside the state where you registered your business. Thus, if you registered your business in Delaware and wish to operate in New York, you will need to file your Application for Authority with the state of New York, or, in this case, let Filenow get it for you.
Registered Agent Service – $119
This service provides the resident agent, statutory agent, or business address required for receiving official mail, such as tax and legal notifications. It is especially useful when you operate outside your incorporation state and you need official addresses in every state where you conduct operations.
Certificate of Good Standing – $49
This certificate is also called as “Certificate of Existence” of “Certificate of Authorization”, is issued by your state of registration to show that your business meets statutory reporting requirements and can operate legally.
Doing Business As – $75
The DBA is the trade name you wish to use for your business when your name or the name used in the incorporation documents is not relevant or attractive enough. The law in many states requires you to register it legally, so as to enable your customers to research your business. In order to use it, you will have to follow additional formalities and pay a nominal fee or pay Filenow to do everything for you.
Reservation of Name – $50
When you want to make sure that the name you have chosen will still be available when your website design is complete or you finally decide to register your business, you can submit an Application for Reservation of Name.
Note: All the prices listed above refer exclusively to Filenow services and do not include state fees.
How to Get Started With Filefow | Filenow Order Process
Whether you want to register an LLC, corporation, or S corporation, or you need one of the other services listed above, Filenow promises a simple, straightforward four-step process. Out of these four steps, you will only be actively involved in the first one, your service provider handling the rest.
Step #1: You Choose Your Service(s), Fill in the Form(s), and Make the Payment
This is the step where you provide the necessary information for Filenow to handle all formalities for you. The company claims that filling in the forms takes 15 minutes. If you have some basic experience with forms and you know what you need, you should be done in less than 10 minutes. If you get stuck, the website covers all the information you need and help is available through live chat, phone, and email.
Step #2: Filenow Experts Review Your Information and Prepare Your Documents
Within no more than 24 hours from receiving your order, Filenow experts will review the information you have submitted, check if the chosen business name is available, and ensure that your application is free of errors. If they detect any errors or inconsistencies, they will get in touch. If everything is in order, they will prepare all the documents required to register your business.
Step #3: Filenow Experts Will File the Necessary Documents with the State
They will comply with all the applicable rules and requirements and submit all the necessary documents to register your business, get your EIN, reserve your desired business name, or whatever you hired them to do. You won’t have to lift a finger, as they will take care of everything.
Step #4: You Receive Your Company Documents
Once the waiting period is over and the state approves the application File now submitted on your behalf, they will send you all the corresponding documents online and, if applicable, by FedEx. Should you need any further advice or clarifications, their support representatives will undoubtedly provide it.
What to Expect When Choosing Filenow for Your Business Needs
With Filenow, what you see is what you get: helpful and intuitive information, fast and simple order process, dependable multi-channel support, full cost, and service-status transparency, 24-hour order processing, and electronic and FedEx express delivery. The best of all is that all services benefit from a money-back guarantee.
Should any errors be made during order processing or state filing, Filenow will pay you back. That will most likely not be the case though, as these guys seem to know what they are doing, at least judging by their reputation.
Filenow Reputation and Customer Reviews
As mentioned above, the company is accredited by the Better Business Bureau, and, at the time of this review, has no complaints filed against it. I was surprised to discover that they have an excellent overall satisfaction rating on ShopperApproved, 4.8/5 stars from 52 ratings.
We did find one negative Google review posted approximately one year ago. The author complained that they hadn’t received news of their order within a week and the team was unresponsive. However, since they didn’t provide further updates or leave other negative reviews, I think it’s safe to assume the problem was solved.
50+ reviews may not be much but it’s encouraging for a business that is rather new to the market. This is especially true if you take into account the fact that people are more likely to leave a review when they are unhappy with a product or service than when everything lives up to their expectations.
Filenow vs. Competitors
Just because a company has a good reputation or a good service offer, it doesn’t mean you should rush into placing your order with them, right? It’s advisable to first check the competition as well, and Filenow has quite a few tough competitors.
Among them, two are more prominent:
IncFile vs. Filenow
They offer a unique $0 starter package and may seem to outrun Filenow. However, if you look at the details, you will see that their package does not include the EIN number (worth $75) and the express shipping (worth ~30) that Filenow offers for free. Check out IncFile review here.
If you don’t need the EIN number, then sure, IncFile could be the right option for you. However, if you do need it, stick with Filenow, as for only $49, you will get $100+ worth of additional services (the EIN and the express shipping).
ZenBusiness vs. Filenow
This company has been switching between $0 and $49 starter packages repeatedly. At the time of this review, their started package costs $49 and, as with IncFile, it doesn’t include the EIN number and express shipping. Under the circumstances, Filenow still has the better offer.
Both IncFile and ZenBusiness provide more services than Filenow and have three service packages. Although some may appreciate the freedom of choice and the more comprehensive offer, I like the fact that Filenow sticks to their area of expertise and keep things simple.
They are your go-to from deciding to start a business to have it registered and ready to begin operations. From here on, you’re on your own, and this is not necessarily a bad thing. Your needs going forward will depend on many aspects and is best to have them met by experts in the field, be they lawyers, CPAs, etc.
Filenow Review Conclusion: Is FileNow Worth IT??
According to my research, Filenow provides some of the fastest and most accessible services on the market and offers the most value for the money.
They are the only company to include the EIN number for free and Express Shipping in their Starter Package, the only one to guarantee 24-hour order processing, and one of the few to provide a money-back guarantee.
Taking into account that their Starter package costs only $49 + State Fees and includes $200+ worth of benefits (EIN + 1-year Registered Agent + Express Shipping), it’s unlikely that you’ll find a better deal on company formation packages.
But don’t take my word for granted: do your own homework, make the choice you consider best and, let us know how it went in a comment! Whether Filenow lives up to their promise and reputation or no, I and this review’s readers want to know about it.