Managing Florida DBA
Filing a DBA in Florida doesn’t mean that the work or process is complete as you will need to keep renewing it as long as you want to keep the fictitious name. The fictitious business name in Florida has to be managed depending on the specific requirements of the business including cancelling the DBA permanently or changing the assumed name. Let us look at the various aspects integral to managing a Florida DBA.
Renew a Florida DBA
One of the important aspects to consider after filing a DBA in Florida is to renew it each year, so that the name doesn’t expire or it is not reserved by some other company. Different states have different renewal periods for a DBA and in Florida, a fictitious name registered under FL Stat § 865.09 (2020) will be valid for a period of 5 years. The 5-year period begins on the date you file a DBA online in Florida and expires on December 31 of the 5th calendar year after that date.
Example: If you register your fictitious business name in Florida on June 12, 2021 then it will expire on December 31, 2026. Hence, you will need to renew it on or before December 31 of the expiration year. Renewal on time will ensure the validity of the DBA for a period of another 5 years.
It is important to note that the Florida division of corporations will notify you regarding the expiry of the fictitious name registration prior to September 1 of the expiration year. This ensures filing a DBA in Florida for renewal on time. The fee for renewal of Florida DBA is $50.
Change a Florida DBA
Once you have registered a Florida DBA, you can conduct your business under the said name. Now, if you want to alter or change the fictitious name then what? Yes, it is possible and you need to start by conducting a DBA in Florida search to ensure your altered or new fictitious name is available. The next step is to download the “Application for Registration of Fictitious Name” and use it to simultaneously cancel the existing DBA and re-register the new DBA. The fee for re-registration of a fictitious business name in Florida is $50.
Cancel a Florida DBA
After filing a DBA in Florida, you may decide to keep the name for a period of 5 years, change it, or even cancel it. The cancellation of DBA can be due to any professional or personal reasons. According to FL Stat § 865.09 (2020), if you cease to operate and transact your business under the registered DBA then you will need to file a cancellation with the Florida division of corporations within 30 days after the business operations have stopped. In order to cancel your fictitious business name in Florida, you will have to download the DBA registration form or “Application for Registration of Fictitious Name” and fill out Section 4 of the application only. The fee for cancellation is $50.