A statement of information must be filed annually for companies and LLCs. The anniversary of the corporation or LLC’s creation serves as the filing deadline. For instance, your statement of information would need to be submitted by January 1 of the following year if your organization was established on January 1. Every two years, on the anniversary of its founding, nonprofits must submit a statement of information.
It’s crucial to remember that failing to provide a statement of information may subject your company entity to fines and perhaps suspension. Therefore, it’s critical to remember your filing deadlines and turn in your statement of information on time.
What information must therefore be included in a statement of information? Depending on the type of business entity, other information may be needed, but in general, you’ll need to submit the name and address of the company, the name and address of the registered agent, the names and addresses of the officers, and the names and addresses of the directors.
A statement of information is a document used in real estate to describe the present owner of a property. When a property is being sold or refinanced, for example, this information may be helpful in a number of circumstances. The legal description of the property, the present owner, and any liens or encumbrances on the land are all normally included in the statement of information for real estate.
It’s crucial to understand that articles of incorporation and a statement of information are two different documents. When a firm is first established, articles of incorporation are submitted, which contain fundamental details about the company such its name, goals, and structure. On the other hand, a statement of information is utilized to give updates on the data and organization of the company.
The Franchise Tax Board has suspended your business entity’s capacity to conduct business in California if you encounter the phrase “FTB suspended” in regard to your enterprise. This may occur if the company doesn’t submit tax returns or pay state taxes that are due. You must submit all applicable tax returns, settle any unpaid taxes, and, if necessary, file a statement of information in order to reopen your business.
In conclusion, a statement of information is a crucial requirement for businesses in California, and it’s critical to remember your filing deadlines to prevent fines or suspension. Don’t mix your statement of information with your articles of incorporation, and be sure to include all the necessary details. If your company has been suspended, take the appropriate actions to have it reactivated and in compliance with the law.
The main location where a corporation conducts business and where its officers and staff typically operate is known as the major executive office. It often serves as the corporation’s administrative center and is in charge of handling daily business operations as well as key decisions. Corporations must include their major executive office’s address in their Statement of Information filing in California.
In California, you are permitted to act as your own agent for process serving. However, in order for legal documents to be delivered to you in California during regular business hours, you must have a physical street address. It’s crucial to remember that acting as your own agent entails being accessible to accept legal documents at the specified address during business hours.