Definition of Statement of Information (California)
To do business in California, your corporation or limited liability company (LLC) must file its initial Statement of Information within 90 days of completing your Articles of Incorporation.
What is a Statement of Information (California)?
A California Statement of Information is a document that is required by the California Secretary of State for certain types of business entities such as:
- Limited liability companies
- Limited partnerships
The Statement of Information shows information about the:
- Company’s owners/officers
- Business addresses
- Business description
The statement includes several optional sections. These optional sections include space for listing the business’s registered agent, your company’s stock or membership interests, and your organization’s fiscal year-end. You can choose to provide additional information about your business by filling out these sections.
Purpose of the California statement of information
The California Statement of Information serves as your first annual report. Periodic filings after the first report update the state with new information about your business that has occurred since the previous filing, such as changes in the entity’s name or address or changes in the names or addresses of its officers, directors, or partners.
You must file the Statement of Information every 2 years for your corporations or limited partnership. You must file every year for a limited liability company.
It’s important to note that a California Statement of Information is not the same as the Articles of Incorporation or Organization.
Some states call the Statement of Information an annual or biennial report.
You can file your California Statement of Information:
- Online through the Secretary of State’s website
- By mail
- In-person at one of the Secretary of State’s offices.
There is a fee for filing the document, which varies depending on the type of business entity.
If the Statement of Information has been filed, it can be found on this website.
It’s important to note that a California Statement of Information is not the same as the Articles of Incorporation or Organization. You must file the Articles of Incorporation when you form a corporation or limited liability company. The Articles of Incorporation or Articles of Organization are the initial documents that create the entity. At the same time, the statement of information regularly provides updated information about the business to the state government.
Why is it important to small businesses?
Failure to file the California Statement of Information on time can result in penalties and fines. In some cases, a failure to file the document can lead to the state dissolving your company. So, submitting your California Statement of Information is essential to remain in good standing.
Other relevant terms to California statement of information that can assist you
- Articles of Incorporation. Also called the corporate charter, the document filed with the state to create a corporation.
- A legal entity that is separate from the owners. Filing to file can result in taxation legal responsibility for you and your corporation.
- Limited liability companies (LLCs). A U.S. business structure that protects the owners from personal responsibility for the LLC’s debts and liabilities.
- Limited partnerships (LPs). A partnership structure where each partner’s liabilities are limited to the amount they put into the business.
Summary of the definition of the California statement of information
In summary, the California Statement of Information is a document required by the California Secretary of State for certain types of business entities. If you have a corporation, you must file every 2 years. If you have an LP or an LLC, you must file annually. This document includes basic information about the entity and its officers, directors, or partners and any changes that have occurred since the last filing.
Failing to file the Statement of Information on time can result in penalties and fines. In some cases, the entity may be dissolved by the state.