Why Do You Need Alaska Reinstatement For Your LLC Or Corporation?
Your company can lose its good standing if it does not fulfill its obligations with the state and may end up being involuntarily dissolved if it fails to settle the issues in a timely manner. When that happens, a reinstatement is necessary to return it to good standing with the state so that it can continue doing business in Alaska legally.
What Is Needed To File For Reinstatement?
If you want to restore your company back to good standing after the state administratively dissolves it, your business will have to go through the Alaska reinstatement process. With this, you can correct your mistakes and settle all pending obligations.
The process will depend on the laws of a state. Alaska is among the states that do not have specific forms for reinstatement. What you should do is to determine what has caused your company to fall into bad standing.
Among the possible reasons for the state to administratively dissolve a business entity are the following:
- You did not submit the initial report due within the first 6 months of your company’s existence.
- You failed to file your company’s biennial report/s.
- You did not maintain a registered agent or address.
- Your company did not attend to noncompliance issues after the state sent a notification of pending dissolution.
- You failed to file the necessary paperwork that would have brought your company back into good standing within the required period.
If your company has failed to file its biennial report, all you need to do is to submit it and pay for the fees and corresponding penalties. You can file it in person, by mail, or by fax with the Division of Corporations, Business, and Professional Licensing. If you choose to fax the documents, you have to attach a Credit Card Payment Form. You can do the same for mailed submissions. Make the money order or check payable to the State of Alaska.
You also have to maintain a registered agent in Alaska. If there are any changes to yours, notify the state by filing a Statement of Change of Registered Agent or Registered Address form.
How Much Will It Cost To Reinstate?
LLC – Alaska LLCs that wish to be reinstated need to pay a $25 penalty fee and 10% of its current tax amount due. Additionally, you will have to pay double the amount of the report filing fee.
Corporation –The same applies to corporations. You will have to prepare $25 for the penalty, 10% of your current tax amount due, and double the amount of the filing fees you have failed to pay.
You can verify the total amount for your specific circumstance by calling the Division of Corporations, Business, and Professional Licensing.
How Long Will This Process Take?
The state normally takes around 10 to 15 business days to finish processing your Alaska reinstatement documents. However, you may have to wait a few more days to receive the return mail for the stamped copy.
What Is Required On The Forms?
To complete the biennial report, you will need to provide the following information:
- Entity Number, Which You Can Check Using The Corporations Database Of The Division Of Corporations
- Complete Physical Address
- Updated List Of Company Officials
- Name Of The Person Filing
What Cannot Be Changed On The Forms?
LLC – An Alaska LLC cannot change the registered agent and registered office address on the paperwork that will settle the administrative dissolution. If you want to do so, you will have to file a Statement of Change of Registered Agent or Registered Address form. It costs $25.
Corporation – The same rule applies to Alaska corporations. If you want to make changes to the pieces of information related to your registered agent, use the Statement of Change of Registered Agent or Registered Address form. The filing fee is $25.
What If My Company’s Name Is In Use When I Need To Reinstate?
LLC – The name of your LLC will not be available to other business entities for 6 months. After that, others will be able to use it. When that happens, you will have to choose a different name.
Corporation – If your company name is no longer available because another business entity is using it, you will have to get a new one for the Alaska reinstatement.
How Can DoMyLLC Assist With Streamlining?
If the state involuntarily dissolves your Alaska company, you will need to complete formal paperwork. The process can overwhelm many business owners, especially if you have to juggle it with other responsibilities.
DoMyLLC can help you with your Alaksa reinstatement. Our team of experts is here to assist you from start to finish. We also provide custom solutions to match your company’s specific needs.
Alaska Reinstatement FAQs
Yes, you can add or remove company officials on your biennial report.
Yes, the biennial report allows companies to change addresses.
You can reinstate your business within 2 years of dissolution. After that period, you will have to file as a new entity.
Alaska Business Resources
Alaska Office of Secretary of State
Phone Number:
(907) 465-2550
Address:
Alaska Department of Commerce, Community, and Economic Development
PO Box 110806
Juneau, AK 99811