At some point, your business may require different space. Maybe you’re growing like crazy and need to upgrade from a home office to an actual office. Or maybe your current space is simply too small. On the flip side, maybe you’re streamlining things and no longer need that big loft office space. No matter the situation, changing your business address is no easy task—and neither is the process of telling the people who need to be told. So when you’re changing your business address, this shortlist of “who to tell” will help make the transition a little less bumpy…
The Postal Service
No matter how antiquated you may think your postal service is, they should be one of the first parties you update. Come prepared with a forwarding mailing address and the date you want them to turn it on, and you’ll be all set. For most postal services, you can do this online.
Your Federal Revenue Service
These guys should definitely get an immediate heads up that your business is changing addresses. It’s to your benefit to make this update sooner rather than later so that you’re not stuck guessing when it comes time to remember when you moved. (It’s easy to forget!) For most governments, this change can be submitted via form. Here’s the IRS’ form.
Your State or Provincial Revenue Service
If you’re changing the state or province your business is located in, you’ll need to inform both the old and the new, as tax obligations will likely be different. If you’re staying in the same state, you’ll simply want to update them because they love sending mail. Another reason for updating at the state/provincial level: some states and provinces offer tax benefits if you’re business is incorporated in a certain area or zone. Might as well find out, right?
Both Your Old and New Local Revenue Department
If county, city or town obligations are part of your business tax picture, you’ll need to update them too.
Chances are you do most of your banking digitally, but you should still update your bank of your address change, especially if you make a lot of online transactions in which the billing address needs to match that which is on record with your bank. And of course, you want to make sure you keep getting all those direct mail offers, right?!
Your accountant will be a treasure trove of knowledge in terms of what a business address change means. They’ll undoubtedly know what actions you need to take. And if you’re flexible, they might be able to help you think strategically from a tax perspective as to where you might set up shop next.
A good rule of thumb: Whenever you plan to change anything about your business, run it by your lawyer. It may come with a cost, but it’s a good habit to practice.
Your Clients or Customers
Of course you want to update these folks! You want to make sure your clients’ records are up-to-date so that if they pay you by paper check, said check gets to the right place. To that point, make sure you update your address in Kashoo so that your invoices reflect it. (Bonus Tip: Once you’re nice and settled in your new digs, consider having an open house. You can email your customers an invitation that also specifically mentions that you’ve got a new address for them.)
Earn some good karma and update your vendors of your business’ new address.
Your Payroll Provider
This is a biggie. If you have payroll set up, notify them of the address change. Better yet, notify them in advance that you’re likely moving. As your payroll provider is likely filing employer and employee tax withholdings, there are obvious implications an address change has.
Cloud Services You Use
If you use paid cloud-based applications or services, you’ll want to update your payment information with them. It might make sense to do this after you update your address with your banks. Why is this important? A hiccup with billing information can sometimes restrict access to service—and you definitely don’t want that!
Heaven forbid something bad happen to your business, but if it does, you want to be absolutely certain that all of your business insurance information is up-to-date. (And make sure the bills are paid too!)
As with most things in business, every situation is unique—and that goes for who needs a heads up when it comes time to changing business addresses. Per usual, your best bet is to double check with your accountant or your lawyer.