Frequently Asked Questions
What is required to restore my company to good standing?
Typically, a reinstatement filing is required. However, in some states, a company may simply comply by providing missing information and/or payment of past due fees. If the non-compliance is due to a missing annual report, there is sometimes a grace period during which the state will allow the company to simply file the required report and pay any past due fees, penalties, and interest in order to become current again. After that grace period, a reinstatement filing document and additional fees will also be required. In other states, the company will be required to file the past due report as well as reinstatement filing in order to become active and will not have a grace period before being placed into delinquent status. If the non-compliance is due to the fact that the company’s registered agent has resigned, it will be necessary to appoint a new registered agent. If the non-compliance is due to the fact that the company failed to file a return with the division of revenue/tax, it will be necessary to obtain tax clearance from the division of revenue and to file a reinstatement filing along with a copy of the tax clearance certificate with the corporations division. CorpCo can assist with any type of reinstatement filing. Contact us for more information regarding the reinstatement of your company.
Why is my company not in good standing?
Following are the most common reasons that a company may cease to be in good standing: Failure to File Annual Report/Pay Annual Fees Required Registered Agent Resigned Failure to File Return with Revenue Division
How do I know if my company is not in good standing?
If a company fails to comply with the requirements of any state in which they are registered, that state will take action to indicate in their records that the company is not in good standing. Each state uses its own terminology to indicate the status of the company. Following is a list of the terms that may be used to indicate that a company is not in good standing: Revoked Void Forfeited Not Compliant Inactive Bad Standing Not in Good Standing Past Due Delinquent Involuntary Dissolution Administrative Dissolution