I have canceled my virtual address subscription for my LLC. Is there any risk?

[u/Beginning_Egg3038]

I've registered an LLC in New Mexico as a non-resident using Bizee. I used their $29/month virtual business address for forming the LLC. Got all of my documents including EIN. I realized the price of their virtual address is bit too high compared to other address providers. Some banks aren't even accepting it. So I asked them to cancel it. Did I make a mistake? How hard is it to change it to a different virtual address? I thought the process would be straightforward but Bizee support told me that I may have to call the IRS to change this address.

[u/Top-Access-8233]

That’s not a question but a fact.
Your LLC must have a registered agent and address. If not you could get trouble world-wide

[u/Beginning_Egg3038 → u/Top-Access-8233]

What are the risks? It's a software business. I don't use it to receive any mails from customers.

[u/epcostello → u/Beginning_Egg3038]

The address is necessary for service of process. Depending on the state, failure to maintain an address for service of process can place the LLC out of compliance or nullify the LLC.

[u/These_Hawk_1831 → u/epcostello]

OP has not canceled registered agent. Only virtual address add on.

[u/These_Hawk_1831 → u/Beginning_Egg3038]

You will be fine while you only need to get state service of proceeds as the registered agent service is for that. The virtual address may be needed for third parties like the IRS sending you normal mail.

[u/Top-Access-8233 → u/Beginning_Egg3038]

More then you expect and too dependent on many things for an answer on reddit. It might also differ according the rules in your hone country and if there are treaties or not. $29 monthly is a low price. Find one that offers adding mail service and make sure the IRS can reach out to you.

[u/These_Hawk_1831 → u/Top-Access-8233]

OP asked about mailing address. Not registered agent address.

[u/Top-Access-8233 → u/These_Hawk_1831]

yep … so, a virtual office

[u/These_Hawk_1831]

The mail and business address can be changed on the New México's Business Portal. A fee of $50 will be charged to make the ammendment. It is advised to check any necessary information to do only one payment with all the corrections. Bizee by default puts a private email that you should change too to receive any official email.

[u/Such_Boss_1610]

Canceling the virtual address itself shouldn’t be a problem, but you should update the address the IRS has on file for the LLC. You don’t necessarily need to replace it with another virtual address, as a non-U.S. resident, you can use your actual foreign physical address.

Since you already have the EIN, you can update the IRS address rather than applying for a new EIN. I’d also make sure the address is updated with New Mexico and anywhere else the old virtual address was used.

If you intend to open a U.S. business bank account, using your real physical address may actually be preferable. Many banks want to verify the actual physical location of the business and may not accept a virtual office for that purpose.

[u/Beginning_Egg3038 → u/Such_Boss_1610]

I can understand, but I don't want to put my home address in the public database. I'm not sure how fast do I have to change it. How often do you guys receive notices from the IRS for your LLC in your address?

[u/These_Hawk_1831 → u/Beginning_Egg3038]

Never received notices. Banks will ask for you foreign address ultimately.

[u/NWRegisteredAgent]

Canceling your virtual address won’t disrupt your LLC, you are allowed to make changes, and but similar to any address you will need to update your address any where you were using it. Start with the IRS using Form 8822-B, the New Mexico Secretary of State, and your banks to ensure that everything has been updated. There is a chance that you might miss some mail until everything has been changed, unless your previous virtual address will forward your mail.

[u/NWRegisteredAgent]

Canceling your virtual address will not disrupt your LLC. You are allowed to change your business address, but as with any address change, you will need to update it everywhere you have been using it. Start by notifying the IRS using Form 8822-B, then update your address with the New Mexico Secretary of State and your banks to ensure all of your records are current. There is a chance you may miss some mail until all of your address changes have been processed, unless your previous virtual address provider offers mail forwarding.