What Is Needed To File For Reinstatement?
To make sure that all operations remain legal, an administratively dissolved company has to go through the reinstatement process. The steps you will have to take will depend on state laws. Generally, you have to submit formal paperwork and correct the mistakes that caused the dissolution.
LLC – Administratively dissolved LLCs have to file a completed Illinois Reinstatement Following Administrative Dissolution form with the Secretary of State. Submit in duplicates by mail or in person. You should also attach the delinquent annual reports and pay all corresponding fees.
Corporation – Reinstating an administratively dissolved corporation in Illinois requires the submission of two copies of the Application for Reinstatement Domestic/Foreign Corporations form to the Secretary of State. You should also file past-due annual reports and fees as well as any delinquent franchise taxes and interest.
How Much Will It Cost To Reinstate?
LLC – The reinstatement of an Illinois LLC costs $200. Additionally, you will have to pay for all the annual reports you failed to submit before. Those opting for in-person filings at the Chicago and Springfield offices can request expedited service by paying an additional $100 for the reinstatement and $50 per past due report.
Corporation – If you want to reinstate your Illinois corporation, you will have to pay $200. You also have to settle all delinquent annual report fees, franchise taxes, penalties, and interest. Your penalty will depend on how much franchise taxes you owe. There is also a 2% interest rate per month. To find out the total amount of your penalty, contact the Secretary of State. You can request for expedited service for an additional $100 for the reinstatement.
How Long Will This Process Take?
LLC – Normal processing takes around 7-10 days. The 24-hour expedited processing for in-person filings in certain offices comes with a fee.
Corporation – The processing of corporate reinstatement documents in Illinois takes around 7-10 days. Expedited processing takes 24 hours.
What Is Required On The Forms?
LLC – You will need the following information to complete the form:
- LLC Name
- New Name, If The Original Name Is Unavailable
- State Where You Organized The Company
- Issuance Date Of Dissolution
- Name And Office Address Of The Registered Agent
- Name, Title, And Signature Of The Authorized Representative
Corporation – Illinois corporations need to prepare the following:
- Corporation Name
- New Name, If Changed
- Authorized Assumed Corporate Name, If Applicable
- State Where You Incorporated The Company
- Dissolution Date
- Name And Office Address Of The Registered Agent
- Name, Title, And Signature Of The Authorized Officer
What Cannot Be Changed On The Forms?
LLC – You cannot change the registered agent of your company. You will have to file a Statement of Change of Registered Agent form to do so. You also cannot change the principal office address and add or remove members or managers on the Illinois reinstatement form.
Corporation – The form does not allow you to change the registered agent. You will need the Statement of Change of Registered Agent form for that. If you need to change the principal address or the officers and directors of the company, you will have to file the Articles of Amendment.
What If My Company’s Name Is In Use When I Need To Reinstate?
If the name of your administratively dissolved company is already in use when you decide to reinstate, you will have to use a new one.
How Can DoMyLLC Assist With Streamlining?
A bad standing status can affect your company’s credibility. It also prevents you from continuing your business operations legally and without worry. If the state administratively dissolved your company, you will have to undergo the Illinois reinstatement process. You also have to file formal paperwork.
People who have never been in this situation may find the whole thing overwhelming. If you’re aiming for a hassle-free transaction, do not hesitate to work with a third-party organization like DoMyLLC. Our team of experts can provide live support and personalized service so it is suitable for your company’s unique needs.
Illinois Reinstatement FAQS
No, you can only do that using the Statement of Change of Registered Agent.
There is no limit as to the number of annual reports that your company can miss to lose its right for reinstatement. You can revive your business at any time.
How long can your company be inactive with the state before it has to start over as a new business entity?
You can apply for reinstatement at any time. The state has not set a deadline for it.
Illinois Business Resources
Office of Illinois Secretary of State
Department of Business Services
501 S. Second St. Rm. 351
Springfield, IL 62756
Phone: (217) 782-7808
Domestic corporation annual report online: http://www.ilsos.gov/soar/
Domestic or foreign LLC annual report online: http://www.ilsos.gov/llcarpt/
Charity Registration: http://illinoisattorneygeneral.gov/charities/register_report.html