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CALIFORNIA ANNUAL REPORT

Registration or incorporation of a business is one of the first steps towards transacting in the state of California but have you wondered what the requirements to keep your business activities are? A California Annual Report is a document that has to be filed by businesses each year and it is commonly known as the “Statement of Information” in this state.

What is an Annual Report (Statement of Information)?

There are some states that don’t require the filing of the annual report or list by business entities. Instead of filing annual report business entities have to file to “Statement of Information” in the state of California. In order to file this statement of information properly, you need to know what it should contain.

The California annual report or Statement of Information is a document, which contains specific information related to business entities. The information contained in the “Statement of Information” varies according to the regulations of each state and normally contains information related to owners/officers of a company, business description, registered agent, business address or mailing address among others. Let’s take a detailed look at the information it contains:

Limited Liability Company

Every domestic limited liability company registered under the laws of the state as well as every foreign limited liability company that has obtained the right to transact business within California state will be required to file California annual report also known as “Statement of Information” with the California Secretary of State. The statement includes:

  • The name of your limited-liability company
  • The file number of your limited-liability company, if you know it
  • The name and street address of a registered agent in California pursuant to CORP § 17701.13, upon whom the service of process against the LLC may be served.
  • The location or registered address of the principal place of LLC business and this should include the street, number, city, state or foreign country.
  • To file annual list, ensure names and titles of all the managers are mentioned.
  • The complete business or residence address of a manager or managers of the LLC and the chief executive officer, if any.

The above is governed by the California Code, Corporations Code – CORP § 17702.09

Corporation (Domestic)

Every domestic stock corporation registered under the laws of the state as well as every foreign profit corporation that has obtained the right to transact business within California state will be required to file the California annual list or a “Statement of Information” with the California Secretary of State… The statement includes:

  • The name of your domestic or foreign business corporation
  • The Secretary of State file number for your corporation, if you know it
  • The name and street address of a registered agent like us, upon whom service of process against the corporation may be served
  • To file annual list, ensure names and titles of all the chief executive officer, secretary, and chief financial officer, or other equivalent positions of the corporation are clearly mentioned
  • The location or registered address of the principal place of business of the corporation and this should include the street, number, city, state or foreign country

The above is governed by CA Corp Code § 1502 (2016)

Is there a Filing Due Date or Deadline?

Laws governed by CA Corp Code § 1502 (2016) for Business Corporations and CORP § 17702.09 for LLC’s has defined specific dates for filing annual report or Statement of Information on time.

Limited Liability Company

It is important to know that every domestic and foreign LLC registered in the state of California will be required to file the Statement of Information annually with the Secretary of State – Business Programs Division. Let’s look at the filing deadlines or due dates to file the annual list in California:

The statement of information has to be filed within 90 days of registering your LLC with the California Secretary of State, and then it has to be filed every two years during a statutory 6-month filing window based on the original registration date of the business.

Example: If you registered your Limited Liability Company on April 15, 2019, then your statement of information will be due on November 1, 2019, through to April 30, 2020.

You can file annual list or Statement of Information with the California Secretary of State – Business Programs Division but it takes a long time to process and this includes preparing detailed paper work and then filing it. Is there a way to file it faster and on time? Yes, SIMPLY HIRE US and we will take care of the filing!
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Corporation (Domestic)

It is important to know that every domestic stock and agricultural cooperative corporations registered in the state of California will be required to file the Statement of Information annually with the Secretary of State – Business Programs Division. Let’s look at the filing deadlines or due dates to file the annual list in California:
The statement of information has to be filed within 90 days of registering your Domestic Stock and Agricultural Cooperative Corporations with the California Secretary of State, and then it has to be filed annually during a statutory 5-month filing window based on the original registration date of the business.

Example: If you registered your Domestic Stock and Agricultural Cooperative Corporations on April 15, 2019 then your statement of information will be due on December 1, 2019 through to April 30, 2020.

You can file annual list or Statement of Information with the California Secretary of State – Business Programs Division but it takes a long time to process and this includes preparing detailed paperwork and then filing it. Is there a way to file it faster and on time? Yes, SIMPLY HIRE US and we will take care of the filing!
ORDER ONLINE

Note: If your business entity is a foreign stock corporation then the due date for filing the Statement of Information would be same as above although the filing form will be different. This statement will be due every year based on the date of registration of the foreign business entity.

If there are no changes in the information like principal address of the business, name of the business, etc then you will be required to file Statement of No Change – Form SI-550 NC.

Is there a Late Filing Penalty of Annual Lists?

If you are unable to submit the annual report to the Secretary of the State by the due date as mentioned then will there be any penalty for LLC and Business Corporations? Let’s take a look into what late submission entails:

Limited Liability Company

If a Limited Liability Company required to file annual list or Statement of Information along with the fee prescribed in California Code, Corporations Code – CORP § 17702.09 fails to file with the Secretary of State then a penalty will be levied.

It is important to know that when an LLC in California fails to file the Statement of Information, the office of the Secretary of State (SOS) notifies the California Franchise Tax Board of the failure to file or late filing. The Franchise Tax Board then assesses the penalty on the business. The amount of the penalty is $250 for domestic and foreign limited liability companies.

The penalty fee is not the only consequence of late filing or failing to file California Annual Report or Statement of Information. The LLC may also face forfeiture or suspension. Once an LLC has been suspended, the business is shown as inactive and this will hamper the operations of the domestic or foreign LLC. It is the Franchise Tax Board that can get your business into active status.

Corporation (Domestic)

If a business corporation filing an annual report along with the fee prescribed in CA Corp Code § 1502 (2016), fails to file with the Secretary of State then a penalty will be levied.

It is important to know that when a domestic or foreign business corporation in California fails to file the Statement of Information, the office of the Secretary of State (SOS) notifies the California Franchise Tax Board of the failure to file or late filing. The Franchise Tax Board then assesses a penalty on the business. The amount of the penalty is $250 for domestic and foreign business corporations.

The penalty fee is not the only consequence of late filing or failing to file California Annual List or Statement of Information. The domestic or foreign corporation may also face forfeiture or suspension. Once a business entity has been suspended, the business is shown as inactive and this will hamper the operations of the domestic or foreign corporation. It is the Franchise Tax Board that can get your business into active status.

What is the cost of filing California Annual List?

The annual filing fee is different for different types of businesses. Let’s take a look at the fee for LLC’s and Corporations:

Domestic and Foreign Limited Liability Company – $20
Domestic Business Corporations – $20
Foreign Business Corporations – $25

Note: If your business entity is a domestic or foreign stock corporation then the Statement of Information must be accompanied by a $20.00 filing fee and $5.00 disclosure fee.

How to File Annual Lists with IncParadise?

The filing process of a California annual report or Statement of Information will require extensive paperwork as you will have to provide every possible detail right from business name to principal business address, name of registered agent, partners, chief financial officer or managers, and type of business among others.

Is there a way to make the process easier? Let IncParadise file your annual reports on your behalf!

Your Benefits are:

  • We will send you the notification for the due date and all you have to do is order it on time, so that we can ensure filing on time!
  • We will ensure you receive “Reminders” regarding the due date
  • We will file it directly with the California Secretary of State – Business Programs Division
  • Our preparation of the Statement of Information will be of high professional standards
  • We will help save you late filing fee

AVOID PENALTY! AVOID BECOMING INACTIVE!

We at IncParadise, are one of the respected registered agents in the state and will be responsible for initiating the filing of California annual report for domestic and foreign stock corporations and limited liability companies in the state. We have access to the California Online System for filing Statement of Information

GET ADVANCE NOTICE OF DUE DATE

ENSURE “ACTIVE STATUS” OF YOUR COMPANY THROUGH TIMELY FILING OF STATEMENT OF INFORMATION