As your Illinois business expands, you may find yourself thinking of making some changes to your organization. But, before doing that, you have to make sure that you are ready to handle the changes. You also need to make sure your company follows the process that the state of Illinois has set.
Reasons Why You Need To File An Amendment
Filing an amendment is a requirement in Illinois to formalize the changes that a company wants to adopt. However, the only items that you can change through an amendment are those that will affect the formal entity structure of your business.
A. Changing The Company Name –
Sometimes, changing the company name can help with business growth. If you decide to do this, you will have to follow the legal process in Illinois. Submit a completed amendment form to report your plan of changing the name of your LLC. Aside from this, your company also has to change the name of your LLC on various state and government records.
Corporations may also change their company name. To make sure that the change is legal, you will have to file an amendment. Additionally, you will also need to update your corporation’s name on all official state and government records.
B. Changing Members Of The Business –
The state does not require you to report details about your LLC’s members and/or managers. But, if the formation documents that you submitted when you registered your LLC in Illinois includes a list of their names, addresses, and contact information, your LLC has to let the state know of any changes. You can file an amendment to update the information.
Corporations submitted Articles of Incorporation to register their operations with the state. Among the information that you have provided is a list containing all the names, addresses, and contact information of the officers and directors of your corporation. If you make any changes, make sure that the state is up-to-date. You can do this by filing an amendment.
C. Changing Address Related To The Business –
The state also needs to know where your LLC resides so that it can send all legal documents to the right address. If your LLC moves to a different location, do not forget to inform the state through an amendment.
The same is true for corporations in Illinois. However, the state only requires the addresses of your company’s registered agent, directors, and incorporators. If there are any changes related to the directors of your corporation, file an amendment. If the changes are related to your registered agent, use the Statement of Change of Registered Agent form.
D. Changing Contact Information –
Aside from the address of your LLC, Illinois also needs to be updated about the contact information of your company. Generally, the point of contact of the state with your LLC is the registered agent. If there are any changes related to the registered agent, inform the state using the Statement of Change of Registered Agent form.
Illinois corporations have to do the same thing. File an amendment if you change the contact information of your company. Doing this will not only update your records, but it will also make your corporation easily accessible. The registered agent of your company receives all legal documents on behalf of your corporation. So, it is necessary to inform the state if there are any changes to the registered agent. You can do this by filing a Statement of Change of Registered Agent form.
E. Changing The Number Of Shares That A Corporation Is Authorized To Issue – LLCs do not have to worry about filing an amendment for this change because they are not authorized to issue stocks. As for corporations, Illinois requires you to file an amendment if you want to change the number of shares that your company can sell.
What Is Needed To File An Amendment?
Illinois LLCs have to file 2 copies of the completed Articles of Amendment form with the Secretary of State. You can do this by mail or in person. If the amendment that your company plans to do is a name change, you can opt to file online. The amendment comes with a $50 filing fee.
If you want to make an amendment to the Articles of Incorporation of your Illinois corporation, you will need to submit 2 copies of the Articles of Amendment form. File the completed form with the Secretary of State by mail or in person. Corporations that only want to make a name change and are in good standing can do the amendment online. Illinois requires corporations to pay $50 for the filing.
How Can DoMyLLC Assist With Streaming The Process?
Making changes to a company’s formation documents require proper completion and filing of paperwork. Depending on the changes, you may also have to take care of other documents. To help ease the process, you can turn to a reliable document filing company like DoMyLLC. Our team can provide support and assistance to Illinois business owners who need help in handling formalities to ensure compliance with the state.
Illinois Amendment FAQs
The filing fee for an amendment submitted by mail or in person is $50. However, you will have to pay an additional $100 if you choose expedited processing. Those that will file online have to pay $153.75.
LLCs have to provide the following information:
- Name of the company
- The effective date
- The amendments in the Articles of Organization
- Authorized signature
Corporations have to provide the following information:
- Name of the company
- The manner of adoption
- Exact text of the amendments
- Authorized signature
The Secretary of State usually takes around 7-10 business days to process an amendment. If you request expedited processing, you can expect the state to finish within 24 hours. Online filings are also done within 24 hours.
The Secretary of State will send a receipt confirming your amendment and a copy of the stamped document by mail.
Illinois Business Resources:
Illinois Office of Secretary of State
Illinois Secretary of State
501 S. Second St., Ste 328 (or: Ste 351)
Springfield, IL 62756