All LLCs, corporations, and nonprofit organizations are required to file a Statement of Information with the California Secretary of State. Corporations must file annually, while LLCs and nonprofit organizations must file bi-annually.
What is a California Business Statement of Information?
A California Business Statement of Information is the business’s or nonprofit’s annual or bi-annual report that contains vital information about the business. The Statement of Information report lists the names of the directors and officers, registered agents, and other information about the corporation, LLC, or nonprofit organization.
What is the California Statement of Information due date?
The due date to file a Statement of Information in California is within 90 days of filing your Articles of Organization or Articles of Incorporation with the state. After that, the due date is the date the original Statement of Information was filed.
For example, if you filed your initial Statement of Information on June 10th, your due date would be June 10th every year if you operated your California business as a corporation—or June 10th every other year if you operate an LLC or nonprofit organization in California.
However, whenever there are changes to the directors, officers, registered agents, or other information you report on your California Statement of Information, you must file an update reflecting these changes depending on when you file your report annually or bi-annually.
For instance, you operate an LLC or nonprofit organization, and your board of directors changes on January 1st of the new year. Your Statement of Information is not due until next year. However, rather than waiting until next year to report these changes, they need to be reported as soon as possible. You would still need to file your bi-annual report on June 10th of next year as well.
What happens if you do not file a California Business Statement of Information?
There are consequences for not filing a Statement of Information in California. For starters, there is a monetary fine that must be paid. The fine amount is not that much, so it can be tempting to file late or just put off filing until you are fined.
The fine for corporations and LCCs is currently $250 and for nonprofit organizations is $50. However, there are other consequences the organization could face, including forfeiture and suspension of the business. Furthermore, the state can revoke tax-exempt status.
If this occurs, the business cannot legally conduct business or operate in California until after it has resolved the forfeiture and suspension with the California Franchise Tax Board, paid the fine for not filing on time, and filed the Statement of Information.
The easiest way to avoid fines and potential forfeitures and suspension is to file your California Business Statement of Information on time. The state does allow a six-month grace period that begins on the first of the month, five months before the filing month, and extends until the last day of the filing month.
Using our June 10th initial filing date from the above example, we could file our Statement of Information as early as January 1st but no later than June 30th.
How can I file a California Statement of Information using FastFilings?
To meet your California filing requirements, avoid penalties and consequences of not filing or filing late, and keep your organization’s information current, the easiest way to file a Statement of Information in California is to use FastFilings in three simple steps.
- Step #1: Answer a few questions about your organization securely online.
- Step #2: We will create your annual report using the information you provide.
- Step #3: We file your annual report on your behalf and send you a copy of your filed report.
We can also assist you anytime you have changes to report for your organization and file the updated Statement of Information with the California Secretary of State. For further information or to file your Statement of Information, get started online today!
You may also contact us through our website using our online contact form if you have further questions or need assistance.