What You Need to Know About Filing a Statement of Information with LLC in California
If you’re a business owner in California, you may have heard about the requirement of filing a Statement of Information with the Secretary of State’s office. This statement informs the state about any changes to your LLC’s details, such as corporate address, name, or registered agent.
Filing a Statement of Information is a crucial aspect of maintaining your LLC in California. In this article, we’ll cover everything that you need to know about this requirement.
Why Do You Need to File a Statement of Information?
The state of California mandates that all LLCs and corporations file a Statement of Information with the Secretary of State’s office. This statement helps the state government keep track of changes made to your LLC, such as changes to your company’s physical address, legal name, or agent for service of process.
Filing the Statement of Information also provides transparency to the general public and can be a vital resource for companies that wish to determine the status of other organizations.
When Should You File a Statement of Information?
If you’re forming an LLC in California for the first time, you’ll need to file an initial Statement of Information within 90 days of completing your formation documents.
After this initial filing, your LLC must file a new Statement of Information every other year, usually in the month of the company’s formation anniversary. For example, if you registered your LLC in July 2021, you’ll need to file your next Statement of Information in July 2023.
It’s essential to ensure that you file your Statement of Information on time to avoid any penalties or fines.
How to File a Statement of Information?
To file a Statement of Information in California, you can follow these steps:
1. Visit the Secretary of State’s website, where you can find the Statement of Information form for LLCs.
2. Fill out the required details as accurately as possible, including your LLC’s name, address, and registered agent.
3. Pay the filing fee of $20.
4. Submit the form online, by mail, or in-person.
It’s crucial to ensure that you confirm the information on the form before submitting it to avoid any mistakes or errors.
What Happens if You Don’t File a Statement of Information?
If your LLC fails to file the required Statement of Information, you may be subject to penalties and fines. In some cases, the state may even dissolve your LLC.
The fines can range from $50 to $250, depending on your company’s status and the duration of the delinquency. If you don’t file the Statement of Information even after receiving the penalty, the state may dissolve your LLC.
Conclusion
In California, filing a Statement of Information for your LLC is essential to maintain your company’s legal and transparent status. Ensuring that you file the Statement of Information on time can help you avoid any fines, penalties or even the dissolution of your LLC.
If you have any questions or concerns about filing a Statement of Information, we recommend that you consult a legal or financial professional with expertise in California’s business regulations.
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