THIS STEP IS VERY IMPORTANT.
You can have two addresses, one physical and one mailing.
You Can Use Your Home Address
I personally use my home address and have had no issues.
I have experienced issues with Davinci, iPostal and Opus.
(Be sure to add “Suite A” To the end of your residential address to differentiate it to your business IF you have multiple companies registered under the same home address)
Home Address: 123 ABC Street
Business Address: 123 ABC Street Suite A
If you cannot find a virtual office near you or afford it, Home address with a suite added is fine. PLENTY of people have used their home address with a Suite and have obtained business funding. Its 2021 and many businesses are ran from home especially after the COVID-19 Pandemic.
UPS Store and Mailboxes will also get your business flagged and most likely auto-denied.
PO BOXES ARE NOT allowed.
Not doing this step correctly can lead to denial of NET 30 accounts and other credit applications.
We need to locate a Virtual Office(Or use home address) for all your Business mail to be sent to. PREFERABLY Somewhere close to your home so you don’t have to drive far.
Virtual Offices come with lots of benefits and can be as cheap as $20 a month.
Finding A Virtual Office
1. Google: “Your City, Your State Virtual Office”
2. Craigslist Search “Virtual Office” under your State and City.
GET YOUR VIRTUAL OFFICE BEFORE MOVING ON.
DON’T SPEND MORE THAN AN HOUR. PICK ONE, APPLY FOR IT AND MOVE ON!
THINGS TO KNOW:
If your business shares an address with another business, DO NOT USE THE SAME ADDRESS. This is a red flag for business creditors and you’ll be autodenied. If you share the same address simply put “Suite A, B Etc…” At the end of the address line to differentiate the two business.
HOW TO CHANGE BUSINESS ADDRESS
IRS FORM 8822-B takes 4-6 weeks
Call and get it done FAST! IRS Business support
800-829-4933 (Option 1, Option 1, Option 3)
Ask them to verify what address you have on file and update it if its incorrect.
Also request an UPDATED EIN Confirmation letter with your new address by email or fax.
ENSURE YOUR EIN LETTER matches your current business address.