How to Restore an LLC

Business man looking at paperwork
Business man looking at paperwork (Image: Christopher Robbins/Photodisc/Getty Images)

A limited liability company that fails to file annual tax returns and informational statements and pay required fees can expect to lose its good standing and may forfeit the right to conduct business. Although this is serious, it does not necessarily mean the business cannot restore its good standing and reopen for business. The specific procedures for restoring an LLC vary among states.

Reinstatement Procedures

As a starting point, contact the secretary of state for your state to get specific information and instructions on restoring an LLC. File any delinquent paperwork and pay all the applicable taxes, penalties, interest and fees. Most states also require an LLC to get a tax clearance certificate from the local government. Next, complete and file a petition for reinstatement along with the required fee. Filing options generally include mail, but faxing or delivering the documents in person most often speeds up the process. The difference in processing time for documents mailed and those hand-delivered can be months.

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