In the excitement of starting a new business, one of the more mundane tasks that has to be taken care of is registering your business as a legal entity. Completing the forms and paperwork required to register with the SEC takes away valuable time from other essential tasks involved in starting a company. That’s why a large industry of LLC services exists, which takes care of this painstaking process for you.
This review will cover Swyft Filings, an outfit wholly devoted to helping companies complete the steps necessary to become an LLC, S or C Corporation, or a non-profit.
Interested in Swyft Filings?
About Swyft Filings
A lawyer founded Swyft Filings in 2012 in Houston, Texas. The company may be one of the new ones on the market but they are still comfortable conducting their business remotely and online.
The company doesn’t offer legal services but instead focuses on incorporation. They provide both basic LLC formation services like preparing Articles of Incorporation and filing the paperwork with Secretaries of State. At an extra cost, they also offer additional services like providing a registered agent and organizational minutes.
It’s important to note that Swyft Filings uses third-party companies for some of the services included in their packages. For example, they outsource their ‘Free 30 Minute Business Tax Consultation’ and ‘Free Domain Name’ services to external partners. This may be fine for some business owners but might be a problem for those looking for a full-service firm.
Structure Breakdown: Who is Swyft Filings Good For?
Swyft Filings provides services for starting LLCs, S Corporations, C Corporations, and non-profit organizations. However, they don’t assist with starting partnerships or sole proprietorships.
Swyft Filings’ pricing and services are more or less identical for each type of corporation.
LLCs are legal entities for owning a business that provides the owners with limited liability from the companies’ operations, which gives them advantageous tax rates and protects them from being responsible for business-related debts and lawsuits.
These advantages, paired with less demanding requirements than other types of corporations, make LLCs a popular choice for small and medium-sized businesses that don’t need to issue stock and attract outside investors.
Swyft Filings helps clients with the initial filing process for LLCs. They will even help you obtain an EIN.
They also can help you determine what type of LLC to become. They service Single and Multiple Member LLCs, Foreign, and L3Cs. Swyft Filings can assist with starting an LLC according to any of the 50 states’ laws, starting with a form that only takes 10 minutes to fill in.
Swyft Filings is a good fit for both S and C corporations. For both types of corporations, Swyft Filings will prepare and file all required documents with the Secretary of State.
S and C corporations are business entities that limit the liability of the company’s owners and permit them to issue shares in the company to outside investors. These structures are useful for larger businesses or those that expect to grow, though there are important differences between them.
One major benefit of using Swyft Filings is that they offer free tax advice on top of preparing and filing all of the formation documents. Also included in the corporation formation package are custom corporate bylaws.
Swyft Filings does a great deal to help their clients even after the company has been formed, which in our opinion is a huge plus.
Swyft Filings doesn’t work with individuals who are starting a partnership.
Swyft Filings doesn’t work with individuals who are starting sole proprietorships.
Swyft Filings can help you form a non-profit as well by preparing and filing all required documents. There is some complicated tax paperwork that allows a non-profit to run as a tax-exempt company, and Swyft Filings can walk you through this paperwork to ensure it is filed correctly.
Non-profit corporations are very different from both LLC or S and C corporations, both of which exist to earn profits for their owners and investors. Non-profits, on the other hand, are usually meant to serve a charitable cause or provide a social good and not make money.
Non-profits can apply for tax-exempt status. The owners and administrators of non-profits are also protected from personal liability.
Swyft Filings Packages & Pricing
Basic Package - $49 + state fees
The Basic Package, which costs $49 plus state fees, includes several services that are the most vital to incorporate. With this package, you’ll be able to start a business but you will still have to perform several functions yourself.
The cornerstone of the Basic Package is preparing the paperwork that one must file to incorporate a company: the Articles of Incorporation and Statement of the Incorporator. Swyft Filings submits these documents to the Secretary of State of the jurisdiction in which you wish to form your company and will send you the incorporation documents when they’ve completed them. You also gain access to an online account that holds those documents.
Finally, the Basic Package guarantees access to customer support both during the incorporation process and afterward. Swyft Filings also provides the following services:
- Verify company name availability
- Online access to incorporation documents
- Free 1 Hour Business Tax Consultation
- 14 day trial of ComplianceGuard Company Alerts to alert you of important due dates for state filings
- Free Domain Name for 1 year
Standard Package - $149 + state fees
Swyft Filings’ Standard Package, priced at $149 plus state fees, includes all the services in the Basic Package plus the preparation of a few other important documents. Exactly which additional documents the Standard Package includes depends on the type of business you’re registering.
Swyft Filings also goes through the process of obtaining a Federal Tax ID (EIN) for all four types of businesses they service.
If you’re planning on starting an LLC, getting the Standard Package will mean that Swyft Filing takes care of the Operating Agreement, Banking Resolution, and Organizational Minutes. For S corporations, C corporations, and non-profits, Swyft Filings provides equivalent documentation.
For instance, the Standard Package for C corporations includes Corporate Bylaws, which are like the LLC’s Operating Agreement, as well as a Banking Resolution and Minutes.
The bundle of these extra features would cost an extra $160 if added to the Basic Package separately, which is considerably more than the additional $100 to upgrade from a Basic to Standard Package.
Premium Package - $299 + state fees
Swyft Filings’ highest-priced package, Premium, costs $299 plus state fees. It adds three additional services to those included in the Standard offer, plus they expedite the filing time for free.
The first and most important is the ‘Customized Digital Corporate Kit,’ which includes a few customizable compliance tools that are equally relevant to all types of corporations. Swyft Filings will create a Company Seal, 20 Customized Stock Certificates, and an Ownership Ledger.
The Premium Package also allows customers to create a website and host it for free for 3 months, and it enables the electronic delivery of documents that Swyft Filings receives from state governments.
Overall Value vs. The Competition
Swyft Filings is an inexpensive option for taking the minimum steps to incorporate a business with its $49 Basic option. Still, it’s not the cheapest on the market. ZenBusiness, for example, offers basic packages for as low as $39). That said, the ability to buy extra features ‘a la carte’ on Swyft Filings gives you flexibility, allowing you to avoid paying for service you don’t need or use.
One feature that’s lacking from Swyft Filings packages but included in many others is a registered agent service. All corporations need a registered agent who can accept processes and official mail, and a registered agent service provides a representative to perform those functions. Swyft Filings does offer this service, but it costs $149 a year, and they don't even include it in their Premium package.
Here's how Swyft Filings compares to some of the competition.
Swyft Filings Document Management & Online Experience
Swyft Filings established itself as a standalone, online incorporation service, so it’s no surprise that their online experience is smooth and well-developed. They include an online document management service in all of their pricing plans.
One could access electronic copies of their incorporation documents, as well as their Operating Agreement or Bylaws, Minutes, and Banking Resolution if they used the Swyft Filings’ Standard or Premium service.
You can complete the entire application for any type of corporation very quickly—in just 10 or 15 minutes. They’ve built an online dashboard that guides you through all of the steps thoroughly and painlessly. In addition, there’s an online tracking system that allows you to follow your filing steps as they happen.
Besides the online side of document management, Swyft Filings mails the physical copies of all the incorporation documentation to customers using couriers (FedEx with a tracking number within the Premium Package).
Swyft Filings Processing Time
Across all states, Swyft Filings offers two options for the time it takes to file the documents necessary for incorporation: Standard and Express. Some states also have an even quicker Rush option. The exact amount of days and the additional charge for the expedited service varies from state to state.
In Delaware, for example, the Standard Filing option takes between 10 and 15 business days, while the Express option takes three business days. The Rush option results in incorporation documents that are delivered that same day. The additional cost for the Express filing option is $100, and it's $150 for Rush service.
By contrast, in New York, there’s no Rush option, but the Express filing is available within one business day and costs $75 extra.
Swyft Filings Compliance & Track Record
Swyft Filings has only been around since 2012, so they don’t have the longest track record of providing incorporation filing services. According to the Better Business Bureau, the company hasn’t been involved in any misconduct during that time nor shown evidence of non-compliance.
The best evidence we have of the business practices of a new, online provider like Swyft Filings are the reviews their customers have posted. Across different user-review platforms, the company generally garners four and five-star reviews.
On Trustpilot.com, Swyft Filings has over two thousand reviews and an average rating of 4.5 stars. This level of customer satisfaction suggests that Swyft Filings operates with good business principles. Our experience with their services was similar.
Swyft Filings Customer Service
Swyft Filings promises lifetime customer support to anyone who uses their service, as well as consultation for those who are thinking of using their service or have questions about the incorporation process. Happily, they provide customer service over the phone as well as virtually. Their general helpline runs during normal business hours, Monday to Friday, and you can make appointments with specialists for more specific queries.
Their website features an extensive ‘Learning Center’ with information about a large number of topics related to their business, like the different types of corporations, state by state guides, and an annual industry report. One highlight is a free e-book called “The Ultimate Guide to Starting Your Business,” which brings together a lot of useful information in one place.
They seem to believe in the service they’re providing to customers, offering a 100% money-back guarantee if someone isn’t satisfied (this doesn’t cover any state fees).
The Last Word: Is Swyft Filings Worth It?
Prospective business owners may look for a quick and inexpensive way to create a legal entity for their enterprise. Though not the absolute cheapest service, Swyft Filings provides no-frill services at a low cost which might be ideal for those creating simpler types of entities. However, others may prefer a company that provides more support after incorporation. In particular, the lack of a registered agent service in any of their plans is unfortunate.
The strong online experience that Swyft Filings puts up makes the basic process of incorporating a company about as easy as possible. With their well-developed system in mind, Swyft Filings is a service that offers good value for money in the crowded filings service industry.
If you're interested in giving Swyft Filings a try, you can read more about their services on their website.