How to file a Statement of Information under the NEW CA Online Filing System | LLC Corp SOI Tutorial

hey this is attorney elizabeth potts weinstein and today we're going to go through how to do the statement of information filing in california for your llc or corporation under the brand new online filing system in california in early april of 2022 california came out with a brand new online filing system they did have a online filing system before that to create lcs and corporations and file statements of information but the new system is much more robust has a much more extensive security so you anybody can't just file things on anybody else's llc corporation and you can also file a lot of other documents like amendments and things of that nature but it's a different system today what we're going to do is go through how to actually file a statement of information we're going to use my corporation as an example but this would apply be almost the exact same for an llc as well so the first thing you need to do is to go to sos.ca.gov which is the website for the california secretary of state and you click on business and under there there'll be the biz file online so the first thing you do is you come to this screen and they actually as of the time i'm recording this have a a alert that says if you've never used this before you have to log in and create a user account so let's say if you didn't create a user account how would that work now if you go under forms it has the forms to to do initial filings to form an llc corporation but it doesn't have any forms for the statement of information and the reason is is because they've changed the system even in the last week to make it so that you have to be logged in and have access to a particular llc or corporation's account before you can file any statements of information or amendments or disillusions or anything else regarding it which is a great thing from a security standpoint so some random person can't file something that changes something in your llc or corporation the downside is that you have to have access online to your lco corporation so let's get into how you're going to do that so let's say you don't yet have access what you would do is then search for your corporation or llc in the search function and it'll come up here and then when you click on it it pulls over a slide over pop-up kind of thing that has information about your business now in here you can request access so if you hit request access it's going to actually have you sign in and then it will request access by sending an email message to the person who has access so if you somebody else has access to your llc corporation because they set it up it could be your lawyer your accountant it could be an online filing service like ink file or legalzoom they're going to get an email that they have to approve you having access now let's say you've never had access to this then instead of it having a button where it says ask for access what it's going to do there is it's going to send you a letter in the mail to your address that's on file that will have a pin and then you can set up access for it now if you've actually done any online filings with the old system for your llc corporation you should automatically have access tied to your email address but let's say you don't have a login yet how would you create that login when you go to login you go to don't have an account sign up and it's very simple you just put in your email create a password your first and last name very simple and then you'll get a login to this system now if you already have a login you sign in and the system will actually look different for you and how it will look like is over on the side you'll have your work queue and your records your work queue will include anything filings that you've started and you haven't finished or things that are pending that they're reviewing right now and then your records will include all the llc's or corporations where you've done a filing under the old system or under the new system now for me my records includes a whole lot of stuff because it's for all my clients that i've ever done filing for under the old system so it's very extensive but for you it'll probably just be one llc or corporation if you go under my records you can click on your llc or corporation the sidebar will then come up and what you can see here is you now have more options find an amendment which is typically you want to change the name or you want to change from member manager manager manager manager renderers remember manage for an llc that's what you use that for the statement of information is where you fulfill the requirement that every two years for llc every one year for a corporation you have to file this statement information that updates your address and stuff like that so let's click on that file statement of information this is for my law firm which is a s corporation it's a professional s corporation but it's gonna look pretty much the same for llc it's just gonna have a little bit different choices so the first thing that you come to is this privacy warning this is important mostly because everything that you file this online system is in the public database so someone can download that so if you want your home address to be private you need to have some other address that you're going to use for this as a physical location address so let's go down he has all the terms of use you can't do fraud et cetera et cetera and you have to check this box at the very bottom oh my goodness this is long okay to agree to the privacy warning and terms and conditions of use now this is the submitter um this is optional but i think it's a good idea to put in your name and address and name email address and phone number because if something goes wrong they can send you an email then the entity details should already be pre-programmed in here because it's linked up to your account into your llc or corporation then you're gonna have your business address my business address is actually already in here i think it's because i was messing with this earlier but it probably won't be pre-populated for you so for your business you're gonna have two addresses one is the street address which is supposed to be a physical location where a person is there and you're doing business and it can't be a p.o box and then you're gonna have the mailing address for the business so for me it's the same thing but for you it may be something different you also have the street address of the california office of corporation the principal office of your corporation could be in another state uh but the california address would obviously be here one of the nice things is that it lets you pre-populate so like you can just copy this from wherever else you've used your address and it'll put that in there which is super awesome so you don't have to type the same thing over and over again which is what you had to do under the old system then you're going to go into officers and directors this is also pre-populated because i was messing with the system earlier you would add the name of the officer or director for an llc you'd be adding the name of the members of the business and then you have to put in what positions they hold so for example for an llc it could be a manager it could be a member for a corporation it it's going to be the chief executive officer the chief financial officer and the secretary in california that can all be the same person so there's special rules like in many states you have to have different people in california there are special rules if you have a corporation where you're literally the only person who owns it then you can just have one director one person who has every single office et cetera if you have a corporation where there's two owners then you have to have two directors otherwise the corporation has to have three directors directors are the board of directors it's who technically hires the officers now i have a corporation where there's one owner so it's this bizarre thing where i'm the director i'm the ceo i'm the cfo i'm the secretary i'm everything which is okay because it's a one-owner business so i'm going to save that and it's all in there um i don't have any additional officers i'm also going to add my name as the director and then i can pre-populate the address which i'm very excited about and save okay so i have one director number of vacancies is not none okay so now the agent of service of process is also me personally so your a your registered agent could be an outside entity uh like northwest is one i recommend for a lot of people they charge uh different register agents charge between typically 100 150 a year some of them charge a lot more legal zooms like more than 200 a year the registered agents of this required it can't be the llc or corporation itself but it can be another entity or a human person so i'm the human person who it is for my corporation but it could also be outside agency that you hire so this is all filled in now the type of business you're just going to put a really short description of the type of business to know what category goes in so i have a professional corporation so in california i can't have an llc uh there aren't professional llc's in california but there are many states professional just means that you're someone who's licensed under some state agency to do the work that you do do the services that you do so typically it's a lawyer a doctor a therapist there's a lot of other kind of medical fields uh the idea is if you need to take a test and get a license you probably have to get a professional corporation or a professional llc instead of a regular one now side note which we'll talk about this when i redo the video for forming analyses and corporations now they're going to help you when you fill this out so you don't form the wrong entity because they're going to ask questions if it's professional and the old system was common for people to form llc's or regular corporations when they needed a professional one and then they would because they wouldn't know and it'd be all wrong so legal services yes i always want to get my email notifications if something is wonky and then this is a new question and one of the reasons we can't just file the nothing's changed statement of information which you once you get everything filled in for the first time every other year you can file this nothing change statement you can't do it this year because they ask you this new question this is the does an officer or director have an outstanding finance final judgment issued by the division of labor standards enforcement or court of law for which no appeal there from its pending for a violation of any wage order or provisions of the labor code very very specific uh for me that would be no hopefully for you as no then you go to review and you're going to sign this and you have to add a signature today that's nice okay now i'm not going to go in and put in my credit card on camera but the next thing you do is you put in a credit card the state of california doesn't take american express which i like i actually had to get a credit card just to do filings in the state of california because they don't take american expressions which is what i use for everything else in my business so you're going to have to use visa or mastercard here do you want to get a certified copy of this filing i don't usually get a certified copy of the statement of information however i usually get a certified copy of the original forming documents when i file an llc and i probably do it for any amendment this is really up to you i'm not going to um file this document because it doesn't need to be filed right now and because actually nothing change i'm going to wait until it's up it is actually due right now the processing fee is zero dollars because it's not due yet normally i think it's going to be 20 that of course might change by the time that you're watching this so then you would go to the next step and actually file it now if i don't do anything if i save the draft and i go to my work queue it should be in here as a draft so if you're not quite sure if you've got everything right you need to go back and check you can save it as a draft it'll be in here this is a really nice feature so that way you don't have to start all over again which is how the old system works and by the way don't forget just to remind you of the deadlines the statement of information has to get filed for llc's every two years and for corporations every year and it's based upon the month that you created your llc so let's go back and i'll show you how that works i'm going to search for my business and pull it up and if you look in here you can see that the statement of information due date is october 31st 2022 it's october because i formed this corporation in october 1st 2012. again this is attorney elizabeth weinstein if you have any questions about what we did today you can go ahead and leave them in a comment below and i'll try to point you in the right direction thumbs up if you found this helpful subscribe for more videos like this and you can sign up for the patreon that i just launched yesterday if you want to get more contact with me and support the channel thanks a lot for watching bye

Channel: Elizabeth Potts Weinstein

Views: 24,586

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Id: FY-ruxQelBE

Length: 13min 35sec (815 seconds)

Published: Tue Apr 19 2022