Filing Your Certificate of Good Standing
What is a Certificate of Good Standing?
Other names for a Certificate of Good Standing
Certificate of Existence
Certificate of Authorization
Certificate of Status
Also known as a Certificate of Existence, Certificate of Authorization, or a Certificate of Status, the Good Standing Certificate is a one-page document provided by the secretary of state and provides conclusive evidence of the status of your business entity. In many cases it can be valid up to three months.
When do you need a Certificate of Good Standing?
There are a few key reasons why your company might need a Certificate of Good Standing:
- Other state governments as part of the process of applying for Foreign Qualification for your business to register to do business in states other than your home state
- Lenders or banks that want to get proof of your business’s existence and business history as part of evaluating your creditworthiness for a loan or when carrying out certain types of transactions
- Investors or business partners who want to make sure your business is legitimate and in compliance with laws and regulations
- Licensing agencies and regulators — in order to renew or obtain certain permits and licenses
- Business brokers or buyers — if you are seeking to sell your business and need to show proof of its existence, history and compliance
How do I get a Certificate of Good Standing?
After you form your LLC or corporation, it’s important to stay up-to-date on filing your annual report, biennial report, or other required forms and compliance paperwork. To stay in good standing, your business needs to meet a few key requirements, depending on your company’s home state. These typically include:
- Being up-to-date on annual or biennial fees to the secretary of state to register or renew your business
- Filing annual or biennial reports
- Paying any other necessary business fees or franchise taxes to state regulators
To get a Certificate of Good Standing, you’ll need to file the appropriate form with your state, or you can have Incfile file for you.
Help to Obtain a Certificate of Good Standing
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To obtain a Good Standing Certificate, the business entity must be registered as a legal entity with the secretary of state, and cannot be in default of corporate regulations, suspended or revoked by the state.
Filing Your Certificate of Good
Standing
Common questions about filing a Certificate of Good Standing
Why do I need a Certificate of Good Standing?
A Certificate of Good Standing is typically needed in the normal course of business by another organization (business partner, bank, lender, investor or regulatory authority) to prove that your business entity is legally registered with the state and is in good standing. The Certificate of Good Standing proves that you have paid any necessary fees and filed required paperwork to keep your business chartered, registered and in compliance with your state authorities.
How long is a Certificate of Good Standing valid?
The validity of a certificate in terms of age is determined by the organization that has requested it. Under most circumstances a requesting organization will require that the document is not older than 30 days.
What will happen if my entity is not in good standing?
If the entity that the certificate is being requested for is not in good standing, we will contact you and provide details as to the status of the corporation or LLC and issue a full refund or provide assistance in bringing the entity back to good standing. This process is usually referred to as reinstatement.
How long does it take to obtain a Certificate of Good Standing?
The filing time depends on the governing state agency and varies by state.
