Why Do You Need An Oregon Reinstatement For Your LLC Or Corporation?
When a company falls into bad standing with the state, its credibility gets affected. It may even lose the benefits that come with its business entity type. If it stays delinquent long enough, the state may administratively dissolve it. Should that happen, the company will need to complete the Oregon reinstatement process if it wants to stay in business.
What Is Needed To File For Reinstatement?
Oregon reinstatement will bring back a company into good standing and will ensure the legitimacy of its operations within the state. In Oregon, this process involves the submission of formal paperwork and payment of corresponding fees and penalties.
An administratively dissolved Oregon company will have to find out first if it is eligible for reinstatement. To do this, you will have to visit the Business Registry Web Renewal page on the website of the Secretary of State. Enter your registry number. If you are eligible, you can generate the form, complete it, and print it afterward. You can file it with the Corporations Division of the Secretary of State by mail, by fax, or in person. If you choose to send the documents by fax, include a Fax Cover Sheet containing your credit card information.
How Much Will It Cost To Reinstate?
LLC – The Oregon reinstatement fee for dissolved LLCs is $100. The annual report fee costs $100 per missed year. If you want to receive a confirmation copy of your submission, add another $5.
Corporation – The filing fee for reinstating Oregon corporations is $100. Each missed annual report costs $100 per year. If you want a confirmation copy from the state, pay an additional $5.
How Long Will This Process Take?
LLC – The Corporations Division normally takes a week to finish mailed submissions. In-person filings take a day if you deliver the documents to the customer service desk. Meanwhile, the processing of fax filings also takes a week.
Corporation – The normal processing time for mailed documents is a week. The same applies to fax filings. As for walk-in submissions, the Corporations Division may take a day if you deliver the paperwork to the customer service desk.
What Is Required On The Forms?
LLC – Oregon LLCs will have to prepare the following information to accomplish the reinstatement form:
- Registry Number
- LLC Name
- Effective Date Of The Administrative Dissolution
- A Statement That The Grounds For Dissolution Did Not Exist Or Has Been Eliminated
- Principal Office Address
- Name And Address Of The Registered Agent
- Names And Addresses Of The Members And Managers
- Credit Card Information, If Filing By Fax
Corporation – A dissolved corporation will have to provide the following information:
- Registry Number
- Corporation Name
- Effective Date Of The Administrative Dissolution
- A Statement That The Grounds For Dissolution Did Not Exist Or Has Been Eliminated
- Principal Office Address
- Name And Address Of The Registered Agent
- Names And Addresses Of The Officers And Directors
- Credit Card Information, If Filing By Fax
What Cannot Be Changed On The Forms?
Generally, you can change any information related to your business when you file for Oregon reinstatement. You can edit all incorrect pieces of information and update them before filing.
What If My Company’s Name Is In Use When I Need To Reinstate?
LLC – One of the first things you need to do when reinstating is to check the availability of your company name. If your LLC name is already being used by another business entity, you will have to opt for a different one.
Corporation – When reinstating, you have to make sure that your company name is still available for you to use. If another business has taken it, you will have to change yours.
How Can DoMyLLC Assist With Streamlining?
As the owner of an Oregon company, you would want to always be in good standing with the state. However, certain circumstances can lead to the failure to comply with your state obligations. When that happens, you may end up losing your current status. It may even lead to administrative dissolution.
The whole process of Oregon reinstatement may be a bit challenging to people who have never gone through it before. If you think you need the help of experts, do not hesitate to contact a reliable company like DoMyLLC. Our team can provide you with personalized solutions and live support.
Oregon Reinstatement FAQs
Can you change your registered agent on the reinstatement?
Yes, you can make changes to the name or address of your registered agent on the reinstatement. You can easily correct it online or print the form and modify the information.
How many annual reports can your company fail to submit before the state prohibits reinstatement?
You can file for reinstatement when you have missed up to five annual report filings. If you go over that, you will no longer be able to revive your company.
How long can your company be inactive with the state before it has to start over as a new business entity?
Oregon allows administratively dissolved companies to reinstate within five years. After that, you will have to start over and file as a new business entity.