In Illinois, all companies, LLCs, and nonprofit organizations are required by law to submit an annual report. It is a document that describes the entity’s present status, ownership, and management. Your entity can be administratively dissolved if you don’t submit your annual report on time. In this post, we’ll examine the repercussions of failing to file your annual report in Illinois and respond to some associated queries.
You can get a copy of your Illinois articles of incorporation by going to the Illinois Secretary of State’s website. You’ll need to register, look up your corporation, and buy a copy of your paperwork. A fee can be charged if you want to request a copy in person or by mail.
By visiting the website of the Illinois Secretary of State and looking for your entity, you can determine the status of your LLC in Illinois. It will be indicated whether the status is “active” or “not in good standing.” If your LLC is not in good standing, it can be because you neglected to submit your annual report, you didn’t pay your fees, or you had other problems.
A Certificate of Status, often called a Certificate of Good Standing, is a record that attests to the fact that your LLC complies with all legal requirements. Although it is not necessary, some banks, investors, and other organizations could ask for it as evidence of your LLC’s legal status. By sending a request and a fee to the Illinois Secretary of State’s office, you can get a Certificate of Status.
A change to your entity’s articles of incorporation or organization is known as an article amendment. Changes to the name, address, purpose, or other information may be included in this. You must file an Article Amendment with the Illinois Secretary of State’s office and pay a fee if you need to make changes to your articles.
For retaining your entity’s legal standing in Illinois, filing your annual report is a crucial necessity. Penalties, fines, and even the abolition of your entity may follow non-filing. You can use the Illinois Secretary of State’s website or by getting in touch with their office if you need to get a copy of your articles, check the status of your LLC, or modify your articles.