Your Guide to Filing a California Statement of Information
If you own a business in California, it’s essential to know the filing requirements to maintain your good standing with the state. One of the crucial filings is the California Statement of Information (SOI). In this article, we’ll guide you through the process of filing a California Statement of Information.
Introduction
An SOI is a document that contains information about your company, such as its address, officers, directors, and registered agent. California requires all corporations, LLCs, LPs, and LLPs registered in the state to file this document. You must file the first SOI within 90 days after registering the business entity. After that, you must file the SOI every year or every two years, depending on the entity type.
Benefits of Filing a California Statement of Information
Filing an SOI helps the state maintain accurate records of your company’s critical information. Failure to file the SOI can result in fines, late fees, or your company being suspended by the state. You may also lose your company’s good standing, which can impact your business operations, including obtaining permits and licenses.
Filing Process
The California Secretary of State’s website has a user-friendly system called Business Search that you can use to file your SOI. Alternatively, you can complete a paper form and mail it to the Secretary of State’s office. The online filing process is more convenient and faster, and you can complete it in the following steps:
1. Access the California Secretary of State’s Business Search website.
2. Search for your company by name and confirm its details, such as the entity type, registered office address, and entity number.
3. Click on the ‘File SOI’ button and follow the prompts to complete the form. Ensure that you provide accurate and up-to-date information about your business officers and directors, registered agent, and address. You’ll also need to submit a filing fee at the end of the process.
4. Review and confirm the information you’ve provided and submit the form. You’ll receive a confirmation email shortly with a copy of your SOI.
Deadline and Fees
The deadline for filing the SOI is different, depending on the entity type. For corporations and LLCs, you must file the SOI every year or within the first 90 days of the year following the initial filing. For LPs and LLPs, you must file the SOI every two years.
The filing fee also depends on the entity type. As of 2021, the fee for LLCs and corporations is $25, while LPs and LLPs pay $20. Late filings are subject to a penalty of $250, and a statement of information that’s more than 60 days late leads to your business getting suspended.
Conclusion
Maintaining the good standing of your business with the state of California requires filing a Statement of Information regularly. The process is straightforward and can be done online through the Business Search portal. Don’t forget to keep track of the filing deadline and ensure your company’s information is up-to-date. Compliance with the state’s requirements will help your business thrive in California.
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