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Durity or doing it yourself?
Some founders keep their own books and file the forms themselves. It can be done. This is what each way involves.
| What you need | Durity | Doing it yourself |
|---|---|---|
| Price | From $499 a month, published, with the core filings included | Software and filing fees; the main cost is your time |
| Bookkeeping | Categorized, confirmed by an accountant, closed every month | You categorize and reconcile every transaction |
| Form 5472 | Included; owner transactions flagged as they arrive | You track every owner transaction and complete the form. A foreign-owned single-member LLC can't e-file it |
| Federal return | Form 1120 or 1065 prepared from your books and reviewed | You prepare it, or buy software that supports it |
| Delaware franchise tax | Both methods calculated; filed with the lower one | You calculate both methods; Delaware's notice uses the Authorized Shares method by default |
| Deadlines | Your filing calendar and email reminders | You track every federal and state date |
| If something is missed | Your accountant follows each deadline on the calendar | The penalty for a missing Form 5472 is $25,000 per form per year |
Form 5471 for a foreign subsidiary is $900 and each state return after the first is $200; everything else in the first column is in the monthly price.
Doing it yourself may suit you better if
- Your company has very few transactions, no foreign owner and no state outside Delaware.
- You enjoy the bookkeeping and have time each month to keep it current.
- You already know the forms and have filed them before.
Common questions
Can I start on my own and move to Durity later?
Yes. Import your past bank and card exports and Durity sorts them. Catch-up bookkeeping for missing months is quoted once we see how many there are.
What do founders most often miss?
Form 5472, because it can apply even when the company has no income, and the penalty is fixed. The free checker on this site walks through whether it applies to you.
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