Understanding California's Statement of Information
Each year, the California Secretary of State sends your corporation/ LLC a "Statement of Information" form which you are required to fill out and return along with a nominal filing fee ($25 for corps, $20 for LLC's). The information sought is very simple (current address, officers, directors or managers and name and address of agent for service of process). If you fail to timely return the form, the fee jumps to $250. If you become too delinquent, the Secretary of State will suspend your corporation/LLC. To avoid these results, make sure the Secretary of State has your current information by logging onto www.ss.ca.gov/business/business.htm.
If any of the information for your entity is no longer accurate, please contact our corporate paralegal, Cheryl James. She will help you update your company's data. If you move or have changed agents for service of process, you must notify the Secretary of State or else your Statement of Information will be sent to your old address and may not be forwarded by the USPS to you. This has resulted in a few of our clients having to pay $250 for failure to timely file their statement of information.
We also recommend that you also enclose a self-addressed stamped envelope and a cover letter along with your statement of information and filing fee. The letter should request that the Secretary of State send you a file stamped copy of your statement of information. When you receive it, you should put the file stamped copy in your corporate minute book.
Or, you can comply the easy way. When you receive your statement of information, sign and date it and send it to Cheryl James. She will update all of the information, write the Secretary of State, provide the SASE and advance the filing fee. When she receives the file stamped copy, she will put the original in your minute book and send you a copy for your files. The total cost, including the filing fee, is $100.00. For more information, contact Cheryl at 949-975-7500 or email her at cjames@bkcglaw.com.
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