Why Do You Need Minnesota Reinstatement For Your LLC Or Corporation?
Being in bad standing long enough can cause a company to be subject to administrative dissolution by the state. Through the Minnesota reinstatement process, the business will be able to settle all pending obligations and continue its operations legally.
What Is Needed To File For Reinstatement?
If you want to return to good standing after the state administratively dissolves your company, you will have to go through the reinstatement process. It will allow you to correct your mistakes and settle any pending obligations.
LLC – In Minnesota, administratively dissolved LLCs that want to continue doing business have to be reinstated. The process is simple. You only have to file one annual renewal and pay the reinstatement fee. You can submit the documents to the Secretary of State by mail, in person, or online. Pay in cash or check if you file in paper form. If you do so online, you can either pay through check or credit card. Make the check payable to the Minnesota Secretary of State.
Corporation – Reinstating an administratively dissolved Minnesota corporation requires the filing of one annual renewal and payment of the reinstatement fee. You can submit the documents to the Secretary of State by mail, in person, or online. Payment for mailed and in-person filings should be in cash or check. Meanwhile, you should pay through a check payable to the Minnesota Secretary of State or a credit card if you file online.
How Much Will It Cost To Reinstate?
LLC – Minnesota LLCs that want to be reinstated need to pay the $25 filing fee.
Corporation – Reinstating a Minnesota corporation costs $25.
How Long Will This Process Take?
The processing time will depend on the method of filing. The Secretary of State normally takes around 5-7 business days to finish processing mailed documents. They process online filings within the day. On the other hand, they finish processing walk-in submissions while the filer waits.
What Is Required On The Forms?
LLC
- File Number
- LLC Name
- Name And Office Address Of The Registered Agent
- Principal Office Address
- Name And Business Address Of The Person Exercising The Principal Functions Of The Chief Manager
- Email Address For Official Notices
- Name And Daytime Phone Number Of The Contact Person
Corporation
- File Number
- Corporate Name
- Name And Office Address Of The Registered Agent
- Principal Office Address
- Name And Address Of The Chief Executive Officer
- Email Address For Official Notices
- Name And Daytime Phone Number Of The Contact Person
What Cannot Be Changed On The Forms?
LLC – A Minnesota LLC cannot use the annual renewal form to change the registered agent and registered office address or the names and addresses of its members or managers.
Corporation – You cannot change the name and address of your registered agent or the names and addresses of your company’s officers and directors using the annual renewal form.
What If My Company’s Name Is In Use When I Need To Reinstate?
LLC – If another business entity has registered the original name of your LLC before you file for Minnesota reinstatement, then you will have to use a new one.
Corporation – If the name of your corporation is no longer available when you reinstate, you will have to use a different company name.
How Can DoMyLLC Assist With Streamlining?
An administratively dissolved Minnesota company that wishes to continue doing business in the state will have to file a Minnesota reinstatement and pay the corresponding fees. The process may seem easy, but it can be challenging for people who have never done it before. Additionally, it may be hard to make time to deal with the transactions while you run your company.
If you think you need help, contact DoMyLLC. We are a third-party organization that offers personalized solutions and live support. Our team of professionals can help you every step of the way and ensure that you do not miss anything.
Minnesota Reinstatement FAQs
Can you change your registered agent on the reinstatement?
No, you cannot. The only document that an administratively dissolved company has to file to reinstate its business is the annual renewal form, and you cannot use it to make any changes to information related to your registered agent. To do that, you will have to file an amendment.
How many annual reports can your company fail to submit before the state prohibits reinstatement?
Minnesota does not have a limit for the number of annual report filings a company can miss. You can reinstate at any time regardless of how many reports you have failed to submit.
How long can your company be inactive with the state before it has to start over as a new business entity?
There is no time limit or deadline for administratively dissolved companies in Minnesota. You can reinstate anytime after the dissolution.