5 Facts You Need to Know About Statement of Information in Orange County
Orange County in California requires businesses to file a Statement of Information (SOI) every year, as per the California Corporations Code. An SOI is a legal document that contains key information about your business. It is essential to keep your records updated with your current information on file in the state office to prevent any legal consequences.
Here are five important facts that you need to know as a business owner in Orange County regarding the Statement of Information:
1. Your Business Needs to File an SOI Every Year
An SOI is a legal requirement, and failing to file it on-time can result in severe consequences like hefty penalties, suspension of the business account, and other legal issues. It is imperative to keep track of the due date of filing your SOI, which is usually on the anniversary of your company’s registration.
The state office also sends reminders through emails, postcards, and other means to business owners, but it is essential to note the deadline and file the report in advance.
2. Accurate Information is Key
The SOI must contain the current information of the business, including its officers, directors, and the registered agent. If there are any changes, you will have to file a separate form within the stipulated period. Accurate information is pivotal for the smooth functioning and compliance of your business in Orange County.
3. Businesses Must Submit the Statement Online
Since 2021, the Orange County Clerk-Recorder’s office only accepts the SOI online, and a paper version is not acceptable. You will have to file the Statement electronically using the designated site, and it is required that you pay the requisite fee and provide the correct information.
4. Timely Filing Can Help You Avoid Penalties
Business owners who file SOI after the due date will have to pay late fees and face other legal consequences. Therefore, it is essential to file your report on time to avoid any additional charges or legal problems in the future.
5. You Can Hire a Professional Service Provider for Filing an SOI
If you’re late with your SOI or find it challenging to file it yourself, you may opt to hire professional service providers. These providers can ensure that your report is correctly filed on time and prevent any legal consequences from late filing or inaccurate information.
Conclusion
Filing the Statement of Information in Orange County is a legal requirement for businesses, and timely and accurate filing is essential. The statement, filed yearly, is a crucial document that contains the current information of the business, including its officers, directors, and registered agent. Importantly, business owners should keep in mind the due date, file online, and hire a professional service provider to avoid legal consequences. It’s better to stay compliant than to face penalties for being late or providing incorrect information.
