Why Do You Need Ohio Reinstatement For Your LLC Or Corporation?
When a company fails to fulfill its obligations, it may lose its good standing with the state and may be at risk of involuntary dissolution. In such cases, Ohio reinstatement is necessary to legally conduct business again.
What Is Needed To File For Reinstatement?
Going through the reinstatement process will restore your company to good standing. The transactions and paperwork may vary depending on the state where you do business.
LLC – The Secretary of State will cancel an Ohio LLC for only one reason: the company sent them a bad check. When that happens, they will contact you and give you a chance to redeem the check. If you fail to do so, they will change the status of your LLC to “canceled.” You cannot continue doing business until you get back into good standing.
There are two types of dissolution applicable to Ohio LLCs. You can apply for voluntary dissolution, or a court will judiciously dissolve your business. No matter what the cause is, you cannot reinstate.
Corporation – As for corporations, the process will depend on the reason for the cancellation. The possible reasons why the Secretary of State canceled your company are the following:
- The Tax Commissioner ordered the cancellation due to your failure to file and pay annual corporate franchise taxes.
- You failed to maintain a registered agent.
- It is due to a court order.
- A professional corporation failed to file their biennial report.
If tax issues led to your cancellation, you will have to find out from the Taxpayer Services Division of the Department of Taxation the amount you owe and the issues you need to resolve. After taking care of all your pending obligations, you will receive a certificate of tax clearance. You will have to file this with the Secretary of State.
If you failed to maintain a registered agent, you will only need to file a Reinstatement and Appointment of Agent form with the Secretary of State.
If the cause is a court order, you will have to settle it with them.
If your professional corporation failed to file its biennial report, you will have to file it and pay the filing fee.
How Much Will It Cost To Reinstate?
LLC – Dealing with the cancellation of your Ohio LLC will require you to pay a fee. It may either be the same amount necessary to redeem the bad check or the filing fee for starting a new LLC. The latter is $99.
Corporation – The filing fee for the certificate of tax clearance is $25. The Ohio Reinstatement and Appointment of Agent form cost $25. The filing fee for the reinstatement of a canceled corporation due to a past-due biennial report is also $25. The total amount will depend on the taxes and fees you owe.
If you want expedited service, you will have to pay an additional fee:
- Level 1, For Mailed And Walk-In Submissions – Two-Day Service – $100
- Level 2, For In-Person Filings – One-Day Processing – $200
- Level 3, For Walk-In Submissions – Four-Hour Service – $300
How Long Will This Process Take?
The processing of documents normally takes 4-6 business days. However, the Secretary of State offers expedited service for a fee. Your options include two-day, one-day, and four-hour services.
What Is Required On The Forms?
LLC – Ohio LLCs only need to settle their bad checks.
Corporation – Corporations have to provide the following:
- Company Name
- Contact Number
- Email Address
- Name And Address Of The Registered Agent
What Cannot Be Changed On The Forms?
LLC – Since there is no Ohio reinstatement form, you cannot change anything. If you want to change information related to your registered agent, you will have to file a Statutory Agent Update form. Changes in the principal address and the names or addresses of members and managers should be done through an amendment.
Corporation – The forms do not have a section for changing principal address and information related to the officers and directors of the company. You will need to file an amendment.
What If My Company’s Name Is In Use When I Need To Reinstate?
If another business entity decides to use your company name while you are under the canceled status, you will have to use an alternative.
How Can DoMyLLC Assist With Streamlining?
If your business has been administratively dissolved, you must file an Ohio reinstatement. However, the requirements may vary depending on the reason for the cancellation. For company owners who do not have experience or enough time, the ordeal can be a source of stress. A third-party organization like DoMyLLC can help you by providing custom solutions and live support.
Ohio Reinstatement FAQs
LLC – No, you will have to do it by filing a Statutory Agent Update form and paying the $25 filing fee.
Corporation – You can change your registered agent on the reinstatement. Use the Reinstatement and Appointment of Agent form and pay the $25 filing fee.
Ohio does not require LLCs and corporations to file annual reports, but professional corporations that fail to file a biennial report may face cancellation.
How long can your company be inactive with the state before it has to start over as a new business entity?
Ohio considers dissolved companies to be dead. Meanwhile, canceled or inactive companies can apply for reinstatement at any time. There is no deadline.
Ohio Business Resources
Ohio Office of Secretary of State
Ohio Secretary of State
180 Broad Street, 16th Floor
Columbus, OH 43215