Your business can’t lawfully operate if it has been deregistered. There are, nevertheless, ways to rejuvenate your business. This article will walk you through the process of renewing your deregistered company step-by-step.
Finding out why your firm was deregistered is the first step. The procedure you must follow to renew your firm will be determined by this. Companies may lose their registered status for a number of reasons, such as failing to submit yearly reports, failing to pay taxes, or ceasing to keep a registered agent on file. You can proceed to the following step if you’ve established the cause of the deregistration.
Step 2: File the Required Documentation The subsequent step is to submit the required papers to renew your business. Depending on the cause of deregistration, this will change. You must file the missing reports, for instance, if your business was deregistered for failing to submit annual reports. You must pay any unpaid taxes if your company’s registration was revoked due to tax evasion. You must designate a new registered agent if your firm was deregistered for failing to keep a registered agent on file.
You must submit the necessary papers and pay any expenses related to renewing your company. This could involve late fines, filing fees, and reinstatement fees. Depending on your state and the reason for deregistration, you may have to pay a different price.
You must wait for state approval after submitting the required documents and paying any fees. Depending on your state, this process could take many weeks or even months. You can start doing business again after your firm has been reestablished. LLC versus S Corp
Depending on your business’s needs and goals, you may choose to choose between an LLC and a S Corp. An S Corp is more structured and has greater tax advantages, whereas an LLC is more adaptable and requires fewer formalities. To decide which entity is ideal for your firm, it’s crucial to speak with an accountant or business lawyer. Reestablishing a Business
Restoring an organization to good standing with the state is the act of reinstating it. Usually, this entails submitting documentation and paying any fines or fees. Depending on why the company is in bad status, the procedure will change. Relaunching an Old Company
You must ascertain the cause of the original closure of an old firm before you may restart it. If it was willingly shut down, you might just be able to start it up again. You might need to take extra measures to relaunch the business if it was shut down because of financial difficulties or legal challenges. How Long Does It Take to Reinstate a Company?
Depending on the cause of deregistration and the state in which the company is registered, the time it takes to reinstate a company will change. Getting a business restored can take a few weeks to several months. It’s crucial to remain patient and check in with the state frequently to make sure everything is going according to plan.
A company’s registration in Washington State is revoked through the administrative dissolution procedure if certain administrative criteria, such as filing yearly reports or paying fees, have not been met. The business can thus lose its legal standing and limited liability protection as a result. A firm that has been administratively dissolved in Washington State can still be resurrected, nonetheless, by adhering to a set of state-mandated procedures.