Keeping California Informed: A Guide to Annual Statement of Information Filings
Running a business in California requires keeping the state updated on your company’s essential details. This is where the Statement of Information (SOI) comes in. But don’t worry, it’s not an unexpected pop quiz! This blog post will simplify the process of filing your annual SOI in California.
What is a Statement of Information?
Think of the SOI as your company’s annual report card for the California Secretary of State. It ensures the state has current information about your business, including:
- Business Name: Your official business moniker.
- Filing Number: The unique identifier assigned by the Secretary of State.
- Addresses: Both your mailing and physical business address.
- People Power: Names and addresses of key players like officers (for corporations) or members/managers (for LLCs).
- Agent for Service: The designated person who receives legal documents on behalf of your business.
- Business Purpose (Optional): A brief description of what your company does.
Filing Frequency: Annually for Corporations
California corporations are required to file an SOI every year. This helps maintain transparency and keeps the state’s records up-to-date. The deadline is on the last day of the anniversary month the business registered, incorporated, or formed in the state. A company can get ahead by filing it up to 6 months in advance of the deadline.
Missing the Mark: Penalties for Late Filings
Filing your SOI on time is crucial. Failing to do so can result in penalties and even suspension of your business ability to operate in California. The hefty late fee ($250) significantly outweighs the filing fee itself ($25).
Filing Made Easy: Online is the Way to Go!
The good news is that filing your SOI can be done conveniently online through the California Secretary of State’s website. This saves time and ensures everything is submitted accurately. It takes very little time to complete. Select “File a Statement of Information” under the Business Entities section. Then enter the Company Name or Corporation Number; search, and click on your entity name. This will allow you to see when the SOI is due and logging in will allow you to file.
Accountalent is unable to file these on behalf of our clients, but if you are looking for support; often times your registered agent will file for a nominal fee.
Stay Informed, Stay Compliant
Filing your annual SOI is a vital part of maintaining good standing with the state of California. By following these simple steps, you can ensure your business stays compliant and avoids any potential penalties. For more in-depth information and specific filing instructions, visit the California Secretary of State’s website.