Why Do You Need A Colorado Reinstatement For Your LLC Or Corporation?
Failure to comply with state obligations comes with consequences, such as penalties and the revocation of the benefits that come with the entity type. A Colorado reinstatement is a way to bring back a company into good standing status so that you can do business within the state without worrying about the legality of your operations.
What Is Needed To File For Reinstatement?
The reinstatement process depends on state laws. Therefore, the requirements vary from state to state.
Colorado is one of the states that no longer administratively dissolve companies. If your company fails to submit its periodic report within four months after the due date, then the state will mark it as a delinquent business entity. When that happens, you will not be able to continue your operations until you submit a Statement Curing Delinquency with the Secretary of State. Another possible reason for delinquency is the failure to appoint a registered agent after the original agent resigns.
Meanwhile, reinstatement is for companies that have filed for voluntary dissolution. If this is the case, you will have to file the Articles of Reinstatement to do business in the state again. You can do this on the website of the Secretary of State.
How Much Will It Cost To Reinstate?
LLC – The reinstatement of a voluntarily dissolved LLC in Colorado costs $100. The same amount is necessary for the curing of delinquency.
Corporation – The Colorado reinstatement filing fee is $100. Curing delinquency also costs the same.
How Long Will This Process Take?
The Secretary of State conducts real-time processing of documents. After submitting the necessary form online, you will immediately see the status of your company changed to good standing.
What Is Required On The Forms?
Owners of Colorado LLCs and corporations who wish to reinstate their businesses will have to provide the following information:
- Entity Name
- State ID Number
- Registered Agent Name And Address
- Principal Office Address
- Mailing Address
- Formation Date
- Dissolution Date
- Delayed Effective Date, If Applicable
- Colorado Statute Under Which The Entity Existed Before The Dissolution
- Name And Address Of The Authorized Representative
What Cannot Be Changed On The Forms?
LLC – Colorado no longer requires LLCs to submit a list of members and managers, so you cannot change that information using the reinstatement form.
Corporation – Colorado corporations do not have an obligation to inform the state about their officers and directors. That’s why you cannot make any changes regarding any information related to your company officials using the Articles of Reinstatement.
What If My Company’s Name Is In Use When I Need To Reinstate?
LLC – If the original LLC name is already in use, yours will include the word “Reinstated” and the reinstatement date on official records. For example, it will be “LLC Name, Reinstated June 5, 2020”. You may also need an assumed name for your operations.
Corporation – Following dissolution, your corporation name will be available for another business entity. If you want to reinstate your business and your name is already in use, your company name will have to include the word “Reinstated” and the reinstatement date on state records. For example, your corporation will be “Corporation Name, Reinstated June 5, 2020”. You may also need a fictitious name that you will use for your Colorado operations.
How Can DoMyLLC Assist With Streamlining?
Getting your Colorado company back into good standing with the state and reinstating a dissolved business entity are two different processes. They can be a bit confusing for people who have never handled such matters before.
If you need help, contact a reliable third-party organization like DoMyLLC. Our team of experts can address your needs, be they for curing delinquency or Colorado reinstatement. You can also expect personalized solutions from us, so you have the assurance that the service you are getting is appropriate for your business.
Colorado Reinstatement FAQS
Yes, you can include any changes related to your registered agent on your reinstatement application.
Yes, you can update the principal address of your company at the same time as your reinstatement.
A Colorado reinstatement is only for companies that have voluntarily dissolved. Missing one periodic report will lead to delinquency. This status will remain until you file a Statement Curing Delinquency and settle your pending obligations. The state does not administratively dissolve companies anymore.
How long can your company be inactive with the state before it has to start over as a new business entity?
A dissolved Colorado company can file for reinstatement anytime. The state has not set a specific period for it. However, you may need to prepare an assumed name in case the original one is currently being used by another entity.
Colorado Business Resources
Colorado Office of Secretary of State
Colorado Secretary of State
1700 Broadway, Ste 200
Denver, CO 80290