How to Move Your Company Out of New York and Keep Your EIN
How to Move Your Company Out of New York Effectively
Moving a company out of New York while keeping its federal employer identification number (EIN), existing contracts, and bank accounts intact is possible through redomestication, a legal process that changes where your company is domiciled without changing the identity of the business itself. Cummings & Cummings Law handles this process entirely online with flat fees and no sales call required, and the company states it can start the process in under five minutes.
Redomestication differs from dissolving a company and forming a new one in another state. When you redomesticate, your existing federal employer identification number remains active, your current contracts stay valid, your credit history transfers, and your bank accounts continue operating under the same business entity. This continuity avoids the administrative burden and potential disruption of closing one business and opening another.
What Happens During Redomestication
The redomestication process involves submitting your business information online and providing electronic signatures on the required documents. Cummings & Cummings Law states that documents are delivered for e-signature within 48 hours of submission. The work is handled by attorneys and CPAs licensed in the relevant states, and the company notes that it will tell you directly if the redomestication process does not fit your company's situation.
You provide the business information and signatures, while the law firm manages the legal filings and state-specific requirements. The process is designed to avoid downtime for your operations.
What to Expect Before Hiring a Redomestication Service
Before engaging any redomestication provider, ask seven key questions: whether the service preserves your EIN, keeps your existing contracts valid, maintains your bank accounts, avoids dissolving your current entity, handles state-specific compliance, provides a clear timeline, and explains what happens if complications arise. Understanding these points helps you evaluate whether a provider is a fit for your needs.
Cummings & Cummings Law's website indicates you can see the exact price for your specific situation within 30 seconds by entering your business name, though the exact fee structure is not publicly detailed on the main page. The service operates on a flat-fee model with no additional sales consultation required.
Who Should Consider Redomestication
Redomestication suits business owners who want to relocate their company's legal domicile to another state without the complexity of dissolving and reforming the business. This approach is practical for companies with existing contracts, established credit relationships, and banking arrangements that would be disrupted by forming a new entity.
The process is not suitable for every business situation. Cummings & Cummings Law explicitly states it will inform you if redomestication does not fit your company, suggesting that certain corporate structures or state-specific circumstances may require alternative approaches.