Why It's Crucial to File a Statement of Information Correctly

Adhering to state mandates is fundamental to running successful business operations. Statement of Information is among the common aspects that business owners would neglect yet require exquisitely by law. If you are confused about what this is, when you need to file, or how it influences your business, rest assured that it is not you alone. By this post, we shall simplify everything and show you how filing a Statement of Information is made easier via Smart Filing.

What Is a Statement of Information?

A Statement of Information (or, in some states, an annual report or biennial report) is a document that keeps your business information up-to-date with the Secretary of State. It typically includes:

Business name and address

Names and addresses of the key officers, directors, or managers

Registered agent information

Type of business activity

Each state has its own rules, forms, and deadlines to apply. Missing deadlines or filing wrong information can incur fines, penalties, or even suspension of your business status.

Who Needs to File a Statement of Information?

If you're in business as a corporation, LLC, or nonprofit entity in the U.S., somewhere in there is a good chance that a Statement of Information needs to be filed by your state. For example, under California law, domestic and foreign corporations need to file such a statement within 90 days of formation and each year thereafter. LLCs would typically be required to file these statements on a biennial basis, depending on the state.

So, even if there have been no changes to your business structure, you must still file to ascertain that your current records are accurate.

Why Filing Matters

Filing a Statement of Information might seem like a simple formal requirement, but it fulfills some very different and important roles:

Keeps You in Good Standing: Compliance empowers your business to operate smoothly; otherwise, you might face legal and administrative hurdles.

Avoiding Penalties: Failure to file may incur late fees, or worse still, you may lose your privilege to carry on business in that state.

Keeps the Public Records Up-to-Date: So clients, partners, and state agencies alike can have current, trustworthy information about your business.

Protects the Interest of Your Business: It enables the prompt delivery of essential legal and tax documents to you through your registered agent.

How to File a Statement of Information

Each state has its own procedure for filing a Statement of Information, but Smart Filing's process is simply faster and easier. Generally, here is the breakdown of what you need to do:

Look Up Your State’s Requirements

Every state has its own deadlines, forms, and fees. Smart Filing's resources page helps you find what your state requires.

Gather Business Information

Get ready to provide the names and addresses of your officers or members; a registered agent; and a principal business address.

Complete the Form

Use your state's official form or use the portal. Better yet, go with Smart Filing's guided assistance to be absolutely sure of accuracy and compliance.

Submit the Filing and Pay the Fee

Almost all will allow you to submit and pay online. Smart Filing can do that for you as well.

Let Smart Filing Help You Stay Compliant

At Smart Filing, we are not just a partner to LLC formation; we accompany your business through it all. We make it hassle-free to put your Statement of Information into the system, from tracking deadlines to filing with states.

Automatic Reminder for Deadlines

Professional Review for Accuracy

Filing Support State-Specific

Super Fast Secure Online Submission

Hundreds of businesses trust Smart Filing to keep them compliant so they can concentrate on growth and not government forms.

Final Thoughts

Filing a Statement of Information may be a tiny but very vital step in acknowledging the legality of your business. It is quick, simple, and complainable when you have the right tools. With Smart Filing, the distractions of missed deadlines and expensive blunders are now behind you.

Visit Smart Filing’s Resource Center for more information on your state’s requirements and get started with your filing today.