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LLCs must file a Statement of Information with the California Secretary of State.
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W hen managing a business in California, it’s crucial to stay on top of your filing obligations with the state. The Statement of Information, particularly Form LLC-12 for LLCs, plays a key role in maintaining your business’s legal standing. This form is a vital part of keeping your records updated with the California Secretary of State.
A Statement of Information is a form that business entities operating in California must file with the California Secretary of State. It provides essential details about the business to keep records updated.
Filing a Statement of Information helps maintain transparency and keeps the state updated about your business. Such updates help with legal and regulatory matters and ensure the business can be contacted if necessary. Missing the deadline can lead to fines or losing your right to operate. When you file, the form requires you to provide details, including your business name, address, officers, and registered agent.
Corporations, LLCs, and some nonprofit organizations must file a Statement of Information with the California Secretary of State. This requirement applies to both domestic (California-based) and foreign (out-of-state) entities registered to do business in California. However, certain types of businesses, such as sole proprietorships and general partnerships, are generally exempt from this filing requirement.
Filing a Statement of Information in California can be done online or via paper submission.
To file online, you can:
Filing online is typically the quickest and most effective way to file.
To file with paper, you can:
The frequency of filing a Statement of Information varies depending on the type of business entity.
Corporations must file a Statement of Information every year. This frequent filing helps keep detailed records current, reflecting any changes in the company’s officers or address. Since corporations often have more complex structures and frequent changes, annual updates are necessary to maintain accurate state records.
Limited Liability Companies (LCCs) and Limited Partnerships (LPs) are generally required to file a Statement of Information every two years. LLCs and LPs generally have fewer changes in their management and less complex structures than corporations. Therefore, a biennial filing schedule is sufficient to keep their information current.
The filing year for a Statement of Information typically runs from the date of incorporation or formation (not from the calendar year), and there is a statutory required six-month filing window. This makes knowing when to file somewhat confusing. You should prioritize keeping track of your filing schedule to avoid penalties and ensure that your business remains in good standing.
The cost to file a Statement of Information in California is relatively modest.
As of the latest update, the standard filing fee is $25 for corporations, and $20 for LLCs. This fee covers the basic filing process.
If you miss the deadline, penalties can range from $250 to $500 or more. The amount depends on how late the filing is.
If you need expedited service for faster processing, you may incur additional costs. Also, check for any updates to filing fees or requirements to minimize unexpected expenses.
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Failing to file a Statement of Information can lead to serious consequences, including legal penalties, administrative dissolution of the business, and a negative impact on business operations.
As noted above, not filing may cost you a fine. Late fees can increase based on how long the filing is overdue. In addition, the California Secretary of State’s office may initiate administrative proceedings if a business fails to meet filing requirements.
Failure to file can lead to the administrative dissolution of your business. In other words, your business may be forced to shut down. You would need to correct the issue to restart operations.
Failing to file may also make it harder to enter into contracts because you are unable to obtain the necessary permits or licenses. Additionally, it could impact your ability to secure financing. Staying current with filings helps maintain smooth business operations.
To ensure that you file your Statement of Information on time and accurately, consider the following tips:
Ensure all information is accurate and complete before submitting your form. Double-check your information to prevent errors that could lead to penalties.
Consult the California Secretary of State’s website for updated guidelines. If you’re unsure about the filing process, consider consulting with a legal or business professional.
The filing fee is $25 for corporations and $20 for LLCs. Late filings may incur additional penalties.
Failure to file can result in administrative dissolution, loss of good standing, and financial penalties.
Generally, corporations file annually and LLCs file biennially. Specific timelines can vary based on the business type and initial filing date.
Key information includes the business’s principal address, names and addresses of officers or members, and the registered agent’s details.
Yes, the California Secretary of State offers an online filing system that is convenient and efficient.
Filing a Statement of Information in California is vital to maintaining your business’s legal standing and operational integrity. By understanding the requirements, costs, and penalties of non-compliance, you can ensure that your business remains in good standing with state regulations. Use the tips provided to streamline the filing process and keep your business on track.
Stormi is a Texas-based Legal Content Writer at Juris Digital. She received her bachelor’s degree from Southern Arkansas University, where she played golf, and her J.D. from UNT Dallas College of Law. Stormi’s background is diverse, with experience in insurance, title, graphic design, and digital marketing. She enjoys getting to be analytical yet creative in her work, and when not working she enjoys live music, evening walks outdoors, iced matcha lattes, and golfing. Read more
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