Understanding the Statement of Information Filing Requirements in California
As a business owner in California, you likely have several responsibilities to fulfill to maintain your business’s legal status. One of these is the submission of a Statement of Information (SOI) filing. This article aims to explain the SOI filing requirements in California, including who needs to file, when to file, and how to do it correctly.
Who Needs to File a Statement of Information in California?
According to the California Secretary of State, all corporations, limited liability companies (LLCs), limited partnerships (LPs), and limited liability partnerships (LLPs) must file an SOI within 90 days of registering with the state. Afterward, they need to update and submit an SOI annually.
Additionally, corporations and LLCs must file an SOI within 90 days of any changes to their articles of incorporation or articles of organization, respectively.
When to File the Statement of Information?
Newly-registered entities in California must file their first SOI within 90 days of registration. From then on, entities must submit an update of their SOI every year within the anniversary month of incorporation, registration, or qualification to do business.
If a file update is not submitted timely, failure to file timely will result in a late fee penalty of $250.00.
How to File a Statement of Information in California?
The Secretary of State offers both online and mail submission options for the SOI filing. Most businesses registered in California file their SOI online. The steps involved in filing online are straightforward and intuitive, but business owners should be committed to submitting their forms correctly to avoid confusion or penalties.
In the case of mail submissions, the form must be correctly completed and sent by certified mail with the appropriate payment fee to:
Secretary of State
Statement of Information Unit
P.O. Box 944230
Sacramento, CA 94244-2300
Conclusion
The Statement of Information filing requirements in California are essential obligations for companies operating within the state. Corporations, LLCs, LPs, and LLPs must complete their filings and updates within the stipulated time frames to maintain their legal status in California. Companies that submit their SOIs on time can avoid late submission penalties and continue to operate their businesses without legal challenges.
Keeping up-to-date with SOI filings and other compliance essentials is critical for business success in California. Stay in compliance to keep your business growing, prospering, and legally protected.
