Why Do You Need A Virginia Reinstatement For Your LLC Or Corporation?
Businesses that do not file and pay for their state obligations in a timely manner may lose their good standing and end up being administratively dissolved. When that happens, the company has to go through Virginia reinstatement so that it can restore its status.
What Is Needed To File For Reinstatement?
An administratively dissolved company has to complete the Virginia reinstatement process by filing formal paperwork and paying all of the necessary fees and penalties. Depending on the state where your company is operating, the steps you have to follow will vary.
In Virginia, whether the state involuntarily dissolved your company or you applied for voluntary dissolution, you will have to request a reinstatement packet. You can do this online or by calling the Secretary of State office at (804) 371-9733.
This packet will include all the items you need to accomplish to reinstate your business. It also contains the Application for Reinstatement or Re-entry form. You will find the bill for all of your delinquent annual registration fees, penalties, and filing fee as well. Through this, you will find out if your company name is still available for you to use. Once you have completed all the documents, file them by mail or in person with the Corporation Commission.
How Much Will It Cost To Reinstate?
LLC – The reinstatement filing fee for LLCs is $100. You will also need to settle all past-due annual registration fees and the corresponding penalties. The annual fee is $50, while the penalty is $25 per year. If you want to speed up the process, pay another $50.
Corporation – Reinstating an administratively dissolved corporation in Virginia costs $100. The total amount of payment will depend on your company’s delinquent filings. The annual corporate fees and corresponding penalties are based on the authorized shares your corporation issued according to the commission’s records. Expedited service costs $50.
How Long Will This Process Take?
LLC – The Corporations Commission normally takes 1-2 weeks to process LLC Virginia reinstatement filings. However, if you submit an expedited request form, pay the additional fee and file before 4 PM. They will finish it the next day.
Corporation – The normal processing time for corporate reinstatement filings is 1-2 weeks. However, if you submit by 4 PM and request expedited service, you can expect the process to be done by the next day.
What Is Required On The Forms?
LLC
- Business Entity Type
- LLC Name
- Business Entity ID
- Business Entity PIN
- Filing Number
- Email Address
- Contact Number
- Name, Title, And Signature Of The Authorized Representative
- Billing Address
- Payment Information
Corporation
- Business Entity Type
- Company Name
- Business Entity ID
- Business Entity PIN
- Filing Number
- Email Address
- Contact Number
- Name, Title, And Signature Of The Authorized Representative
- Billing Address
- Payment Information
What Cannot Be Changed On The Forms?
Generally, you can update any business information on the Virginia reinstatement. You can change the registered agent, principal address, and even the list of company officials.
What If My Company’s Name Is In Use When I Need To Reinstate?
LLC – An administratively dissolved Virginia LLC loses the right to its name. It will be available for another entity to use. If your name is no longer available, you may use a fictitious name or adopt an alternative.
Corporation – Your company forfeits its right to its name when it is administratively dissolved. Therefore, you will have to use a fictitious name or come up with a new one if another entity has already taken your company’s original name.
How Can DoMyLLC Assist With Streamlining?
Getting your Virginia company back into good standing with the state requires you to accomplish the Virginia reinstatement packet and settle all of your delinquencies. If you think that completing all the transactions and paperwork will be too much for you to handle, contact a reliable third-party organization like DoMyLLC.
Our team of experts can assist you and make sure that your company completes all of the required tasks smoothly. We can also provide customized service to ensure that you are getting a suitable solution for your specific situation and needs.
Virginia Reinstatement FAQS
Yes, you can change the registered agent of your company in Virginia on your company’s application for reinstatement.
Virginia only allows a company to miss up to five annual reports. After that, you can no longer apply for reinstatement.
An administratively dissolved company has to file for reinstatement within five years from the date of its Certificate of Termination. Beyond that, you will have to file as a new business entity.
Virginia Business Resources:
Virginia Office of Secretary of State
Phone Number:
(804) 371-9733
Address:
Virginia State Corporation Commission
1300 East Main Street – PO Box 1197
Richmond, VA 23218