Obtaining a Certificate of Good Standing from the Illinois Secretary of State is one of the requirements for operating a business in Illinois, which also includes abiding by state rules and regulations. This certificate provides as evidence that your company is legitimate and compliant with state regulations. But how long is an Illinois Certificate of Good Standing good for? Let’s investigate. Validity of Illinois Certificate of Good Standing
A Certificate of Good Standing in Illinois is good for 90 days after the day it was issued. After that, you must submit a request for a new certificate to renew it. When you want to grow or relocate your company, ask for a loan, or renew your business permits, it’s crucial to have the certificate renewed.
A $75 yearly fee must be paid to the Secretary of State if you run an LLC in Illinois. To keep your LLC in good standing, you must pay this charge annually. If you don’t pay the annual fee on time, you risk fines, losing your LLC’s status, and even possible legal implications. Public Record of Illinois Articles of Incorporation
Articles of Incorporation are considered public records in Illinois and are accessible to the general public. The Illinois Secretary of State will provide copies of your company’s Articles of Incorporation upon request.
In Illinois, is it possible to act as your own registered agent?
Yes, you are permitted to act as your own registered agent in Illinois, but there are conditions. A registered agent is a person or corporation chosen to accept legal documents and official notices on your company’s behalf. A registered agent in Illinois is required to have a local street address, be accessible during regular business hours, and hold a valid business license.
For a number of reasons, including failing to submit yearly reports, paying fees late, or failing to keep a registered agent, businesses may lose their good standing status. Losing your good standing status can have major repercussions, such as making it difficult to conduct business, get a loan or credit, or avoid legal trouble.
Finally, any firm operating in Illinois must obtain and maintain a Certificate of Good Standing. The certificate must be renewed every 90 days to make sure your company is adhering to state regulations. To keep your company in good standing and prevent future legal complications, it is also necessary to pay the annual fee, keep a registered agent, and submit frequent reports.