Why Do You Need Kentucky Reinstatement For Your LLC or Corporation?
When a company falls into bad standing, it will have to face noncompliance fines and may lose the benefits offered by its entity type. One way of dealing with those issues is through Kentucky reinstatement.
What Is Needed To File For Reinstatement?
The reinstatement process varies depending on the state where your company is conducting its operations. In Kentucky, a dissolved company has to use the reinstatement packet.
Generally, the state will administratively dissolve a Kentucky company if it fails to file its annual report by June 30. You will have to complete the Reinstatement Application form and Reinstatement Annual Report form. You can also include a Statement of Change of Principal Office and Registered Office if you need it.
Additionally, an administratively dissolved business entity needs a Letter of Good Standing from the Revenue Cabinet. For-profit corporations also need a Letter of Good Standing from the Division of Unemployment Insurance. You can request the letter on your own or let the Secretary of State do it for you. The state will only process the reinstatement once they receive the letter.
How Much Will It Cost To Reinstate?
LLC – The reinstatement of an administratively dissolved LLC comes with a $100 fee. Delinquent annual reports cost $15 each. There is no late fee for past-due reports.
Corporation – When you reinstate your administratively dissolved corporation in Kentucky, you will have to pay the $100 fee. You will also have to pay $15 for every annual report you have failed to file. There is no late fee for past-due reports.
How Long Will This Process Take?
LLC – The Secretary of State normally starts processing LLC reinstatement filings within the day. However, it may take 3 business days to finish the filing process.
Corporation – The office of the Kentucky Secretary of State can begin processing corporate reinstatement filings within the day. Still, they may need up to 3 working days to finish.
What Is Required On The Forms?
LLC – You will have to prepare certain pieces of information to complete the forms in the reinstatement packet.
- LLC Name
- Business Entity Type
- Name And Address Of The Registered Agent
- Principal Office Address
- Names And Addresses Of The Members Or Managers
- Signature And Title Of The Authorized Representative
Corporation – You may need the following pieces of information to complete the forms in the reinstatement packet:
- Company Name
- Business Entity Type
- Name And Address Of The Registered Agent
- Principal Office Address
- Names And Addresses Of The Officers And Directors
- Signature And Title Of The Authorized Representative
If you are filing a Statement of Change of Principal Office Address along with the reinstatement, the following are needed from you:
- Entity Name
- Old Principal Office Address
- New Principal Office Address
- Name And Signature Of The Authorized Agent
If you are attaching a Statement of Change of Registered Agent and/or Registered Office Address:
- Entity Name
- Name And Office Address Of The Previous Registered Agent
- Name, Office Address, And Signature Of The New Registered Agent
- Name And Signature Of The Authorized Representative
What Cannot Be Changed On The Forms?
LLC – You cannot change any information related to the members or managers of your LLC using the reinstatement form. However, you can update that on the annual report you will file.
Corporation – The Kentucky reinstatement form does not have a section for changing information related to the officers and directors of a corporation. You can update their names and addresses in the annual report instead.
What If My Company’s Name Is In Use When I Need To Reinstate?
Another business entity can immediately take the name of an administratively dissolved company in Kentucky. If yours is unavailable when you reinstate, you will have to use a new one. Make sure it follows the state naming regulations.
How Can DoMyLLC Assist With Streamlining?
If you find the Kentucky reinstatement process to be slightly confusing, contact a third-party organization like DoMyLLC. Our team of experts has extensive experience in dealing with that type of transaction. We can also offer personalized solutions to make sure that the service you are getting is suitable for your situation. You can expect live support too.
Kentucky Reinstatement FAQs
Can you change your registered agent on the reinstatement?
You can change the name and address of your company’s registered agent by attaching a Statement of Change of Registered Agent and/or Registered Office Address.
How many annual reports can your company fail to submit before the state prohibits reinstatement?
The state allows reinstatement at any time after the administrative dissolution. It does not matter how many annual reports you have missed.
How long can your company be inactive with the state before it has to start over as a new business entity?
There is no deadline for the reinstatement of an administratively dissolved business entity in Kentucky. However, the state will not protect or reserve your company name.
If you want to start over, you can file for the organization of a new business entity.