The initial step of filing the Articles of Incorporation, for your Illinois Corporation, has been completed by Guidant. The following information is important and will assist you in maintaining your corporate status:
- Articles of Incorporation: Within your Zip File there are several important documents. Your Corporation was established by filing “Articles of Incorporation” with the Secretary of State. You will find the Articles in the Corporate Documents folder in your Zip File.
- Tax Identification Number: The Tax Identification number for a business entity is known as an employer identification number (EIN). The EIN operates like a Social Security number for the entity and is required for many necessary activities, such as opening a bank account. Your EIN has already been filed with the IRS, and can be found in the Corporate Documents folder in your Zip File.
- State Mandated 401(k) Plans: The state of Illinois requires that all businesses offer their employees a 401(k) Plan. The 401(k) Plan you established for your organization through Guidant Financial meets this requirement however you do need to opt out through the state website. For the state requirements and to opt out please visit their website here: https://www.ilsecurechoice.com/
- Annual Report to Illinois SOS: Every domestic corporation is required to file an annual report each year with the Illinois Secretary of State. The annual report is due within 60 days immediately preceeding the first day of the anniversary month. The annual report form can be found through the Illinois Secretary of State’s website at: http://www.cyberdriveillinois.com/departments/business_services/publications_and_forms/ bca.html. The filing fee is $75.00. Failure to timely file may result in monetary penalties or administrative dissolution of your Corporation. Please contact the Illinois Secretary of State at (217) 782-6961 for more information.
- Business License: Your Corporation may be required to obtain a license or permit issued by the State of Illinois. To assist you in making this determination, please refer to: https://www.illinois.gov/business/registration-licenses-permits.html for state, city and county licensing authorities.
- Business Taxes: Illinois imposes various taxes on businesses. For more information, please contact the Illinois Department of Revenue at (800) 732-8866 or visit: http://www.revenue.state.il.us/.
- Employees: If your Corporation will have employees, state law may require worker’s compensation insurance coverage and you should visit the Illinois Worker’s Compensation Commission website at: http://www.iwcc.il.gov/ or call (866) 352-3033.
Many Corporations with employees will be subject to unemployment tax requirements. Information may be obtained from the Department of Employment Security website at: https://ides.illinois.gov/faqs/employer.html or call (312) 793-5700.
- Record Keeping: Every domestic corporation is responsible for keeping at its principle office: correct and complete books and records of account, minutes of the proceedings of its shareholders, board and executive committee current names and addresses of all shareholders and the number and class of shares held by each.
- Change of Address and/or Resident Agent Information: In the event your Corporation’s principal office address, your registered office address and/or your resident agent changes, you will be responsible for taking the necessary steps to inform both the Secretary of State and the Internal Revenue Service (IRS) of the address change. To notify the Illinois Secretary of State, you can make changes using forms that can be found through the Illinois Secretary of State web site located at: http://www.cyberdriveillinois.com/departments/business_services/publications_and_forms/ bca.html. Notify the IRS, we have included additional information, including a Change of Address IRS Form, in the file in order to assist you in completing this process.
- Additional State Requirements: It is important to note that the Illinois Secretary of State may have additional requirements above and beyond what has been detailed above. It is your responsibility to read any and all information sent to you by the Illinois Secretary of State or any other agencies, to assure that you are remaining compliant. Failure to remain compliant and/or respond to requests for information in a timely manner may result in dissolution of your Corporation.
This form is provided to you for informational purposes only. You are responsible for determining the correct information and completing the necessary requirements for your entity. Information provided is subject to change based on state requirements. It is important that you always check the information provided above with the most up to date information as provided by the Secretary of State and other government agencies.
