Considering changing the name of your company
Many people jump right into applying for an MC/DOT number with just a sole proprietor or partnership then decide later to incorporate.
This is all well and good however it can cause some expensive issues.
It's always my recommendation to establish your corporation FIRST. File all the necessary paperwork with the Secretary of State before applying for your MC and USDOT numbers.
Why? To avoid problems with the insurance filing.
BEFORE you take the plunge of changing your name with the FMCSA ask yourself these questions.
If you can answer YES to at least 2 of these questions then go ahead and file for a name change.
Otherwise you should wait. The BEST time to change your name is during an insurance renewal period. Why? It has been my experience that the insurance company will want you to write a whole new policy for the newly established name.
Most small businesses simply cannot afford to place another downpayment for a new policy.
The paperwork with the FMCSA is another issue. It's pretty simple to change your name BUT they will require a new BOC-3 and the new insurance policy to be filed within 30 days. No exceptions!
What happens when these 2 requirements are not met? Your authority goes INACTIVE. That means you're temporarily out of business for at least a week if not 2 weeks. Then you will need to file for a reinstatement to reactivate your account with the FMCSA but the insurance still needs to be on file.
The insurance is the most important piece of this FMCSA puzzle. No insurance - No active authority. It's just that simple.
Contact your insurance agent and have a conversation about a possible name change to your authority before you proceed with the official name change with the FMCSA.
So are you ready to change your name? If so, great!
Click here to apply for a name change. We will guide you through the whole process.
Interstate Permit Checklist
This handy checklist is a MUST HAVE for every truck's permit book. There is not one blanket permit that covers all because there's too many agencies hands in the pot. This checklist will help you sort out the details for a typical 80,000 GVW truck.
DOT Audit Checklist
Want to know what you'll need for your New Entrant DOT Audit? Here's a checklist to help you sort it all out.
Still not confident? We offer DOT Audit Assistance where we will help you compile all of the required information and upload it into your DOT Audit Portal.
Visit us at www.milesoftraining.com to learn more about how our DOT Audit Assistance works.
Avoid These 6 Mistakes
In my 27 years of FMCSA experience I have been able to narrow down the most common mistakes most people make in the beginning of their operation.
Download this free guide and get on the right track from the beginning. It'll not only save you time but it'll also save you money and needless frustrations.
DOT Safety Systems Checklist
All carriers need to put safety systems into place as a requirement implemented by the USDOT. Many of these documents within these systems will be needed to fulfill your DOT audit. Here's a handy checklist w/links to guide you in the right direction and go beyond compliance.
pdf w/embedded links
Hi! I've been working in this industry for over 32 years. I've learned a lot and want to share it with you to help you keep this process simple!