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Closely Held Businesses

Statement of Information Filing Requirements

By January 17, 2017No Comments

When was the last time that you filed a Statement of Information for your business? Have you ever filed a Statement of Information? Don’t end up paying 10 times as much for filing late.

A Statement of Information is filed to inform the California Secretary of State of your business’ current address, officers, directors or managers, type of business, and the name and address of agent for service or process. The California Secretary of State requires all corporations, limited liability companies, and common interest development associations to file an SOI within 90 days after registering in California and every year (cooperative corporations) or every two years (most LLCs and nonprofit corporations) thereafter. Based on when your business was registered in California, there is a 6-month window that you must file within for the annual or biennial SOI. For more details and specifics on this 6-month window and how often your business needs to file, follow this link: http://www.sos.ca.gov/business-programs/business-entities/statements.

The requirement to file comes with a filing fee of $20-25. While the filing fee is nominal, it is really important to keep track of your Statement of Information due date as there is a $250 penalty fee for late filing.

If you have any questions or need help figuring out when your business’ Statement of Information is due please contact your L&B Professional at 858-558-9200.

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