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.
What is 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.
California Statement of Information Requirements
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.
How to File Your California Statement of Information
When filing your Statement of Information, there are four different submission options to choose from:
- File online using the California Secretary of State form submission portal
- Use California’s eForms service to scan and upload a completed PDF copy with signatures
- Mail in or hand deliver your documents to either the Sacramento or Los Angeles Business Entities Office
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.
What information is required for the Statement of Information?
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:
- The name of your corporation and the Secretary of State’s file number
- Contact information for all directors serving at the time of filing
- Any vacancies on the board of directors
- Contact information for all officers
- The physical address of the principal executive office
- Mailing address if different from the physical address
- A designated email address if that is how the corporation chooses to receive electronic renewal notices
- Statement of the general type of business of the company (e.g., retail department store, automobile manufacturer, wholesale cosmetic distributor, etc.)
Professional corporations and nonprofit corporations have slightly different filing requirements but require similar information.
Limited Liability Companies
California LLCs must also file a Statement of Information. Required information includes:
- The name of your LLC and the Secretary of State’s file number (foreign LLCs must use the name under which they’re authorized to contact intrastate business)
- Name and address of the LLC’s registered agent
- Physical address of the principal business office
- Mailing address if different from the physical address
- Contact information for the chief executive officer and any managers, or the contact information for all members, if no manager is designated
- An email address if the LLC chooses to receive renewal notices or any other notices through that method of communication
- The general type of business that describes the LLC
Annual and Biennial Reports
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.
Submitting Your California Statement of Information
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.
Filing Your California Statement of Information FAQs
Is a Statement of Information the same as an annual report in California?
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.
Do I need a lawyer to file a Statement of Information in California?
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.
How much does it cost to file a Statement of Information in California?
Filing fees are subject to change. Check the California Secretary of State website for the most current fee schedule.