What You Need To Know About Illinois Articles Of Organization
Similar to the other states that allow LLCs to be formed, part of that process involved filling out your articles of organization. This paperwork involves a substantial amount of information regarding the people involved with your company. At the top, you are going to place the name of your Illinois limited liability company, something that you have likely determined by doing in entity search. There are more aspects to this paperwork that needs to be considered. This is an overview of how to complete Illinois articles of organization.
Why You Need To Fill This Paperwork Out
This paperwork is connected to the formation of a limited liability company. In the state of Illinois, LLC-5.5 is the form that you can either obtain from the office of the Secretary of State or you can simply download it online. After writing the name of your LLC, you will then provide many different details regarding the registered agent, managers, members, and organizers that are part of this business. In particular, you must list not only their name but also their physical address. This is particularly necessary with the registered agent. This is likely a company or a single individual, that can act in this capacity. They will receive documents that they can then pass on to you, acting as a mediator for documentation related to taxes and your limited liability company.
How Much Does It Cost To File Or Articles Of Organization?
Filing the articles of organization will cost $150 in the state of Illinois. For those that prefer doing things on the Internet, this is also an option. Once you have downloaded and filled out the PDF, you also have the option of printing it and then sending it by regular mail. Either way, once it is received, within the span of a day, they will then begin to process that information. It is likely they will be looking for other forms of information that will include your operating agreement. This form, which is almost always an optional form, will present basic information about how your business operates. This may include the LLC law that will govern how your business operates and who is responsible for each different part. This can be turned in, along with your articles of organization, and should be done after you have found a registered agent.
The Main Purpose Of The Registered Agent
The primary purpose of a registered agent is to receive legal paperwork. That is their primary purpose in this scenario. They must be a resident of Illinois, and if they are not, they could be a foreign or domestic corporation that can act on their behalf. Corporations do require an authorization, and every corporation is likely to have a physical address that can be placed on this document. If you do not have one, you can always request the help of professional businesses that set up LLCs all the time. This will ensure that you will be able to fill out your paperwork, submit it, and take advantage of the protection offered by the LLC.
Will These Documents Be Rejected?
It is unlikely that documents that are submitted by professionals for LLCs will ever be rejected. This is because they are doing hundreds of them every single month. In the state of Illinois alone, there are likely 100 or more LLCs filed in each major city. It is one of the best strategies for protecting any type of business. If you submit this without properly verifying the information, there is always the possibility your documentation could be rejected. Getting advice from these other businesses is so vitally important to expedite the process of getting your LLC set up.
Modifying Your Articles Of Operation
Modifying these documents is something that you can also do. It may require several steps in order to accomplish this. For example, if you are changing the people involved with your business, you will certainly want to update this so that it can be known from a legal standpoint. If you never change any of the people, or if it is only you, there would be no need to ever look at these documents again. This is also true with the optional operating agreement that will likely not change for smaller businesses that operate independently of employees.
If you have not been able to properly submit your articles of operation, consider finding a business that specializes in this industry. This will allow you to obtain as much help as you need, allowing you to submit this documentation and get your LLC set up quickly. By having this entity protecting your assets, it will be an investment that will be worth every time. It also pays to contract with businesses that set up articles of operation every day. This can be done by contacting these local businesses that can help you out.