Filing Articles of Incorporation with the State of California means that your business entity has been officially formed. Congratulations! But there is still administrative work to be done, and that starts with filing a Statement of Information.
The initial formation of your business entity requires you to provide the state some basic information about your company. However, you may not have all of the information that the state needs upon formation. That’s what a Statement of Information is for.
California requires domestic and foreign for-profit corporations, non-profit corporations, professional corporations, and limited liability companies (LLCs) to file an initial Statement of Information to record this new information once it has been decided. California is one of a few states that require this type of documentation. It’s important to submit your California Statement of Information to remain in good standing and avoid penalties.
You have 90 days from the date of submitting your Articles of Incorporation to hold your first board meeting, make all necessary decisions, and file your California Statement of Information with the Secretary of State.
When filing your Statement of Information, there are four different submission options to choose from:
Filing online allows you to pay required fees at the time of submission. Online submissions will have processing priority over mail-in or drop-off submissions. There is a fee for filing your Statement of Information. Late fees also apply if you don’t file on time, and these penalties vary depending on your type of business entity.
The California Statement of Information expands on existing information about the company that was provided in the Articles of Incorporation. Many of these facts about the business entity may have been unknown at the time of formation or have changed due to decisions made by the board of directors, shareholders, or members (depending on your business entity type) at the initial meeting. California requires different filings for each entity type.
California law requires your Statement of Information to include:
Professional corporations and nonprofit corporations have slightly different filing requirements but require similar information.
California LLCs must also file a Statement of Information. Required information includes:
Your California initial Statement of Information essentially serves as your first annual report. This same report is required on a regular basis to update the state record of your corporation with any changes to the business. Reports must be filed yearly in California for stock, cooperative, credit union, and foreign corporations. California Statement of Information reports are filed biennially (every two years) for domestic nonprofit corporations and limited liability companies.
Life gets busy when you’re running a business, but deadlines are not negotiable. Forgetting to file or incorrectly filing could cost you hundreds of dollars in penalties and additional stress that you would probably rather not endure. At ZenBusiness, we can help make filing annual or biennial reports easy through use of our automated technology and expert staff. You can also use our Worry-Free Compliance service to help you stay compliant and track your documents for future filings and reports.
A California Statement of Information is the same as an annual and biannual report. This document serves the purpose of updating the state with any new information about the business entity.
You don’t need a lawyer to complete and file your Statement of Information in California. That being said, forming and keeping a business compliant can be challenging. Take a look at the business formation and maintenance tools and services that ZenBusiness offers to understand where you can receive help and spend less time stressing about the administrative stuff.
Filing fees are subject to change. Check the California Secretary of State website for the most current fee schedule.
California Business Resources