Question: How do I keep my Arizona LLC in good standing with the Arizona Corporation Commission?
Answer: Once you start your Arizona limited liability company (LLC), there are some very important issues to consider to keep the LLC in good standing with the Arizona Corporation Commission. When an LLC is not in good standing, the ACC will first classify the LLC as delinquent and then administratively dissolve or revoke the LLC’s existence if the LLC does not correct the problem within the time period listed on the ACC’s delinquency notice.
Here’s how to keep your LLC in good standing with the Arizona Corporation Commission:
- Publish your Notice of Publication if Required! Arizona LLC law requires that within 60 days of the date the Arizona Corporation Commission approves the Articles of Organization, a Notice of Publication must be published for three consecutive publications in a newspaper of general circulation in the county of the LLC’s known place of business in Arizona. Publication in a newspaper is not necessary if the LLC’s known place of business is in Maricopa County or Pima County. The LLC may be dissolved if it does not publish and file an Affidavit of Publication with the ACC when publication is required.
- If your LLC moves, tell the Arizona Corporation Commission! Always notify the Arizona Corporation Commission of any change of address of the business or its members or managers. If you move the known place of business address for your LLC, or if your Statutory Agent’s address changes, you must submit a Statement of Change of Known place of Business or Statutory Agent. You may also use this form to update your member/manager addresses. However, adding or removing members and/or managers requires an amendment to be filed. Please note that the ACC does not allow the Postal Service to forward mail, so once you move you will no longer receive critical documents from the Arizona Corporation Commission. Therefore, it is extremely important that you notify the ACC of any address changes.
- If any member or manager moves, tell the Arizona Corporation Commission! If the address of a member or manager in the LLC’s Articles of Organization changes, the LLC must notify the Arizona Corporation Commission of the new address. To change the address of a member or manager complete and submit a Statement of Change of Manager or Member Addresses to the Arizona Corporation Commission.
- Maintain a Statutory Agent at all times! If your statutory agent has resigned, you must appoint a new agent immediately. The form, Statement of Change of Known place of Business or Statutory Agent, can be downloaded by clicking here. There is a $5.00 fee to file this form and it may also be expedited for an additional $35.00.
- Make sure that your LLC’s duration has not expired! Every LLC that we form has a perpetual duration, but some people create LLCs with a specified dissolution date. When you originally organized your LLC, you may have chosen a specified period of time that your LLC would exist. If you intend to operate your LLC beyond that original life span, you must file an Amendment to the Articles of Organization with the Corporate Filings Section of the ACC to extend the life period of the LLC. You may obtain the amendment form by clicking here. The fee to file an amendment is $25.00. Expedited service is available for an additional $35.00.
- Make good on any Non-sufficient funds (NSF) checks! If you bounced a check payable to the Arizona Corporation Commission, you must submit the payment amount plus a $10.00 fee, which is imposed on all NSF checks. The payment you submit cannot be a personal check or business check. The payment must be a cashier’s check, money order, or cash (accepted only at the ACC’s counter).
If your LLC has been dissolved or its authority revoked for any of the above reasons, you have six years from the dissolution date to correct the deficiency. This may be accomplished by filing the necessary documents, paying all fees that are due, and including the proper reinstatement fee. The reinstatement fee is $100.00.
Note: Your LLC’s name will only be held for six months after the date of delinquency. After that time anybody can create an Arizona entity with the exact name of the dissolved company.
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