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BCa 12.20 Form: What You Should Know

The articles are not for distribution to the members unless specifically notified or required to do so. When should I submit a corporate articles of dissolution form to the Secretary of State? You should submit a completed Articles of Dissolution Form as soon as possible, if possible, but no later than six months after the corporation had been in existence for four years or in the event of dissolution that is more than four years. What if I have an active Illinois Corporation? As a corporation is dissolved, the remaining assets of the defunct corporation will be sold to pay the debts or liabilities of the corporate entity. If the debts or liabilities arise out of an ongoing relationship, you may not have sufficient time to file Articles of Dissolution with the SOS. What is the procedure for filing Articles of Dissolution? The SOS will mail to you either a hard copy (in which case you must submit two copies) or on request, a computerized version. How do I submit Articles of Dissolution to the Secretary of State? You must submit Articles of Dissolution in person, in person, or by U.S. Mail to: Secretary of State PO Box 51650 Springfield, IL 62 What are the documents that I must retain if I am the sole stockholder of a dissolved corporation? You must retain a copy of the stock certificate for three (3) years. What documents must I retain for two or more separate Articles of Dissolution? You must retain a copy of each Article of Dissolution for three (3) years. If any of the Articles of Dissolution relate to the dissolution of an entity other than your own LLC, you must retain a copy of each separate Articles of Dissolution for five years. You should also retain a copy of the Notice of Dissolution for the five (5)-year period. What if I change my mind about the Articles of Dissolution and decide to dissolve my corporation before filing? You should submit the appropriate Articles of Dissolution form on Form BCA 12.

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