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Tips on completing the Form Si 550

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the following information is provided.for educational purposes only and in no.way constitutes legal tax or financial.advice for legal tax or financial advice.specific to your business needs we.encourage you to consult with a licensed.attorney and/or CPA in your state the.following information is copyright.protected no part of this lesson may be.redistributed copied modified or adapted.without prior written consent of the.author before beginning this lesson.please make sure that you have your.stamped and approved articles of.organization back from the state.otherwise you will not have the.information you need to prepare the next.document as we discussed in lesson 2.California has a number of additional.requirements for your LLC to remain in.compliance with the state the first of.these requirements is called the.statement of information the purpose of.the statement of information is to keep.the state updated with your LLC's.contact information it includes your LLC.name your secretary of state file number.the LLC's address the names and.addresses of the member or members your.registered agent information as well as.a brief description of your business you.can find your secretary of state file.number on your stamped and approved.articles of organization that you.received back from the state you will.need to file your first statement of.information within 90 days of the.approval of your LLC then you will need.to file it again every two years it will.be due by the anniversary date of the.approval of your LLC the anniversary.date is the date the articles of.organization will stamped and approved.by the state the fee for filing your.initial statement of information is just.$20.in two years when you file again the.costs will remain the same at $20.failure to file on time whether it's the.initial or the ongoing statements of.information will result in the state.charging late fee of two hundred and.fifty dollars and they may eventually.dissolve or shut down.your LLC here are some examples of.deadlines let's say the approval date of.your LLC was February 15th in 2015 your.initial or the first statement of.information would be due by May 16th of.the same year that's within 90 days of.the approval date then your next.statement of information is going to be.due February 15th of the year 2017 this.is two years after the approval date.then your ongoing statements of.information will be due every two years.by the February 15th deadline let's look.at one more example because I know.hearing this all at once right away can.sometimes be a little bit confusing so.let's look at example two let's say the.approval date of your LLC was October.1st in 2015 and you may be watching.these videos in the future so these.dates are just arbitrary just to help.paint an example to make it a little bit.more clear again the approval date of.your LLC is October 1st 2015.your initial statement of information is.going to be due before December 30th of.2015.again this is 90 days from October 1st.the approval date then your next.statement of information will be due by.October 1st 2017 this is a full two.years after the original approval date.then your ongoing statements of.information will be due every two years.by the October 1st deadline once you.determine when your initial and your.ongoing statements of information are.due you should not take any chance that.your filings are delayed you should file.your initial statement of information as.well as your ongoing statements of.information as early as possible to make.sure the state receives them before.their due date the state allows you to.file your statements of information up.to three months before they are actually.due so we recommend that you take.advantage of this although the state.will send your LLC a reminder for.ongoing statements of information.it's a good idea to calendar the due.dates on your own and just a note here.they do not send you a reminder for the.initial statement of information that's.due within 90 days of the approval and.it's your responsibility to send that.the reminders that you receive after.that are going to be for the ongoing.statements of information again which.are due every two years even if you.don't receive a reminder you are still.responsible to file your statement of.information every two years.once your statement of information is.completed you will need to submit it to.the state along with the filing fee you.will find the accepted forms of payment.and the address where to send your.statement of information to below this.video it's a good idea to make a copy of.the statement of information that you.send to the state and keep it with your.business records we are now ready to.fill out your statement of information.you can download this document below the.video let's get started here we are.inside the statement of information this.is a three-page PDF document the first.and second pages do have instructions.and the third page is the actual.statement of information feel free to.read through pages 1 & 2 but we've.already discussed all the details within.this video this form can be filled out.on the computer or it can be printed out.and then fill it out by hand if you fill.it out by hand please make sure to use.blue or black ink make sure that you.print the documents on letter size.that's under standard 8 and a half by 11.inches also please note that I have a.professional version of Adobe Acrobat.you may just have a simple free version.called Adobe Reader and you may not have.as much functionality in order to type.inside the document if that's the case.no worries.again you can just print it out and fill.it out by hand another important thing.to make note of is at the bottom of page.two on the instructions they do list the.address where to send the statement of.information - the only thing is that you.may be watching this video in the future.so we ask you to cross-reference the.address.you find within your documentation or.that you're watching it in this video.and just reference the address that we.have listed below this video that's the.most up-to-date and accurate address.alright let's get started in order to.save time I've already filled out the.information within this document under.Section 1 you're going to list the name.of your LLC and remember to include the.full name with the abbreviation LLC or.LLC dot under number 2 you're going to.list your secretary of state file number.I just included a bunch of X's because I.don't have an actual file number for.California number 3 you're going to.leave blank this is only for LLC's that.are formed outside of the state of.California under number 4 for your.initial statement of information you're.going to leave this box unchecked now.moving forward your ongoing statements.of information you're going to be using.the same PDF document however if you.haven't had any changes to the address.or any information for your LLC all you.have to do is simply check this off you.can skip numbers 5 all the way down.through 14 basically a 5 through 14 and.then on 15 you just date print put your.title and sign for now because this is.your initial statement of information.again you're going to leave them or 4.unchecked and number 5 I'm gonna list.the address and the principal office of.the business in number 6 I'm going to.leave it blank because the mailing.address is the same as the street.address now this is a little confusing.because number 7 says the street address.of the California office so this one has.to be within the state of California.most likely both of these addresses will.be the same for you in my case for this.example they're the same so I just fill.them in twice scrolling down number 8.where it says name and complete address.of the chief executive officer if any.this typically would just apply to.corporations so you can leave this blank.in number 9 10 11 you're going to list.the names and the addresses of the LLC's.member or members in this case this is a.single-member LLC I've just listed my.name and my address.heading down under section 12 and 13.this is where we're going to list the.registered office and the registered.agent in this case I am the registered.agent for my LLC so gonna include my.name and my address again remember your.LLC's registered agent could be a friend.or a family member that lives in the.state or if you've hired a commercial.registered agent you'll simply just list.the name of that company here and their.address on 13-under number 14 they're.asking for a brief description of the.type of business now this doesn't have.to be an elaborate sentence it can just.be a few simple words such as this.example plastics manufacturing and.shipping other examples could say.landscaping services marketing.consulting etc then in number 15 you're.going to list the date you're going to.print your name under title you can put.managing member afterwards once you.print out the document you'll simply.sign here where it says signature take.your payment of $20 and you're going to.send that to the state again the.accepted forms of payment and the.address were to send this document to.are listed below the video.so let's go over some important points.which we mentioned earlier in the video.that this initial statement of.information is going to be due within 90.days of the approval of your LLC and.then it will be due again within two.years of the approval date again it's.basically a way for the state to make.money and most importantly they keep.your contact information up to date and.if businesses don't file the statement.information it helps the state keep the.records clean because they eventually.dissolve and shut down businesses so.you'll have to come back to this lesson.in approximately a little bit less than.two years you're going to download this.document again and just make changes to.any information that's updated if.there's no changes to any of the numbers.five six seven eight nine ten all the.way down to fourteen it's really simple.all you do is put the name of the LLC.your secretary of state file number you.checkoff number four that says there's.been no changes go down to number.fifteen fill out the fill in the date.your name your title and sign let's just.do one quick walk through again before.we wrap this up again.number one name of the LLC number two.secretary of state file number number.four for the initial statement of.information you leave it unchecked for.the ongoing statements of information.you check it off if there have been no.changes or you leave it unchecked and.then you go ahead and just update your.address below number five you're going.to list the street address or in this.case this is the printable office.address of the LLC and you're gonna list.it again in number seven the address of.the California office if your LLC is out.of state in number seven you can list.the street address down here number.thirteen the address of your registered.agent you can put that up here for your.California address if you don't have an.address in the state hopefully that.makes sense.number eight you can see up over number.nine you're gonna list the names and.addresses of the member or the members.of the LLC number twelve and unless the.name of the registered agent number.thirteen you're gonna list the address.of the registered agent fourteen a brief.description and a fifteen you date print.your name your title and then you print.out this form and sign the document.alright and that completes this lesson.

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Form Si 550 FAQs

Notice answers to questions about Form Si 550 . Find out the most welcome topics and more.

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