Privacy in Delaware: What’s on Record?

Many clients who incorporate or form an LLC in Delaware want to know exactly what information is private and what is public. Since one of the primary benefits of incorporating in DE is confidentiality; we will spell out the details.  The most common question we encounter is “What’s on the record?”

For the LLC filed through a Professional Registered Agent this is very simple.  Only the company name and the name and address of the agent will typically appear; along with the date of filing and the company file number.  With each year after the filing; there will also be record of the company’s Franchise Tax payment amount and the date it was paid.  No member or management data will appear on the public record.

Corporations filed in Delaware can also enjoy a private filing; however, with each annual report and Franchise Tax payment, the name and addresses of officers and directors must be submitted with the FT payment.  Filing date and file number also appear for corporations. You may file the corporation with privacy, but by March 1st of the following year; the FT information will be available to the public through the State of Delaware.  A fee of $10.00 is required by the State of Delaware Division of Corporations to obtain this information.  Although it is obtainable, it comes at a cost.  Many states simply post all the information on their Division of Corporations website where it can be easily searched.

When self-filing either type of entity; individuals will not have the benefit of confidentiality.  They must reveal their name and address as the incorporator.  The benefit of privacy is typically lost when filing the company yourself.  Many clients initially want to file their company documents themselves, but the benefit of privacy tips the scale and they often chose a service such as Harvard Business Services, Inc. to handle the filing and agent details.  For the drawbacks of the DIY filing please click HERE.