Reinstate a Business in Oklahoma | A Step-by-Step Guide

by
Reinstate Oklahoma Business

Running a business or forming an LLC in Oklahoma can be a rewarding yet challenging experience. When operating a business, unforeseen circumstances may arise, leading to the suspension or dissolution of the entity. If your business has been suspended or dissolved in Oklahoma, you do not need to worry. This guide will provide a step-by-step process to Reinstate your Business in Oklahoma and get back on track.

Webinarcare Editorial Team will help you easily reinstate your Oklahoma business. You must be guided by all the factors gathered in this article.

How to Reinstate a Business in Oklahoma

Understanding Dissolution and Suspension

Before diving into the reinstatement process, it’s essential to understand the difference between dissolution and suspension.

Dissolution

Dissolution is the legal termination of a business entity. This can happen voluntarily by the owners or involuntarily by Oklahoma due to non-compliance with state laws and regulations. When a business is dissolved, it must cease all operations and settle outstanding debts and liabilities.

Suspension

The state can suspend a business entity for various reasons, such as failing to file Annual Reports or paying taxes. When a business is suspended, it loses its right to conduct business within Oklahoma, and the owners may be personally liable for any debts or liabilities incurred during the suspension period. Hiring a Registered Agent for your documents to be compliant is very important. You could check out the Best Oklahoma Registered Agent Services in Oklahoma.

LLC Service

Rating & Pricing

Top Features

Learn More

#1 Recommendation

$299 Per Year

  • Free LLC Formation

  • RA service in all states

  • Legal consultation

Learn More

$125 Per Year

  • Flat price for RA service

  • LLC formation package

  • Fast service

Learn More

How to Reinstate a Business in Oklahoma

In Oklahoma, reinstating your business needs a lot of preparation, more specifically if it is located in Oklahoma City. To be aware and prepared, we have gathered information on the steps to reinstate your Oklahoma business. If it is manageable to Dissolve a Business in Oklahoma, it is also bearable to reinstate your Oklahoma business. Keep in mind that you should follow the mentioned steps below. 

Step 1: Determine the Reason for Suspension or Dissolution

The first step in reinstating your Oklahoma business is determining why it is suspended or dissolved. This information can be found in the notice issued by Oklahoma or by contacting the Oklahoma Secretary of State. Common reasons for suspension or dissolution include:

  • Failure to file Annual Reports
  • Failure to pay taxes or fees
  • Failure to maintain a Registered Agent
  • Non-compliance with state laws and regulations

Step 2: Resolve Outstanding Issues

Once you have identified the reason for your business’s suspension or dissolution, you must resolve the outstanding issues. This may include:

  • Filing any missing Oklahoma Annual Reports and paying associated fees. In Oklahoma, the LLC Annual Reports costs $25 while the Corporation Annual Report costs $0.
  • Paying any outstanding taxes or fees
  • Appointing or updating your Registered Agent information. 
  • Resolving any non-compliance issues with state laws and regulations

Ensure that you keep records of all payments and documents submitted to the Oklahoma Secretary of State, as you may need to provide proof of compliance during the reinstatement process. We recommend hiring the Best Registered Agent Services if you plan to reinstate your business. This will ensure that your documents are up to date.

It is suggested that you speak with a legal professional before you begin reinstating your Oklahoma business. They’ll understand what’s best for you and your company. To safeguard your personal assets from business debts, you can always start an LLC in Oklahoma.

– WEBINARCARE EDITORIAL TEAM

Step 3: Obtain a Certificate of Good Standing

Certificate of Good Standing is a document issued by Oklahoma that verifies that your business is in compliance with all state requirements and is authorized to conduct business within the state. Although obtaining a Certificate of Good Standing is not always required for reinstatement, it can be beneficial in demonstrating your business’s compliance and may expedite the reinstatement process.

To obtain a Certificate of Good Standing in Oklahoma, you will need to:

Get and Submit the Form

The form is available on the Oklahoma Secretary of State website. You can download the form and mail it or submit it online. 

Online Application Process:
  • Visit the State Website: In Oklahoma, they offer an online portal for business services, which includes the option to request a Certificate of Status.
  • Register an Account: You may need to create an account or log in to your existing account to access the application process.
  • Provide Required Information and Documentation: The online application typically requires basic information about your business, such as the entity name, identification number, and business type. You may also need to upload supporting documents. 
Paper Application Process:
  • Download and Complete the Appropriate Forms: Visit the Oklahoma Secretary of State to download the required application forms for the Certificate of Good Standing. Complete the forms, ensuring all information is accurate and up-to-date.
  • Provide Required Documentation: In Oklahoma, you may need to include copies of your registration documents, Articles of Organization, Annual Reports, or other supporting materials.
  • Mail or Deliver the Application: Once you have completed the forms and gathered the necessary documents, mail or deliver the application package to the Oklahoma Secretary of State, 421 N.W. 13th Suite 210, Oklahoma City, OK 73103, along with the required fees.
Pay Any Associated Fees

The fees for obtaining a Certificate of Good Standing cost $20, vary depending on the type of business entity. Some states also offer expedited processing for an additional fee. Check the Oklahoma Secretary of State website for the most up-to-date fee schedule. The Certificate of Good Standing’s processing time varies from state to state. Also, it depends on the expedited filing as well. It can take a few days to a few months to obtain the Certificate of Good Standing in Oklahoma.

Provide Proof of Compliance

To prove compliance with state requirements, you must file Annual Reports and pay the necessary taxes.

Recommended: Legalzoom’s annual report services provide a comprehensive and streamlined approach to ensuring businesses maintain compliance and transparency. Their attention to detail and dedication to client satisfaction make them the go-to choice for all your annual reporting needs. We recommend using –

LegalZoom – Starts at $99 + filing fees

Step 4: Submit Reinstatement Application

Once you have resolved all outstanding issues and obtained a Certificate of Good Standing, you can submit your reinstatement application to the Oklahoma’s Secretary of State. The reinstatement application process may vary depending on the state and the type of business entity (corporation, LLC, etc.).

In general, the reinstatement application process will require:

  • Completing a reinstatement application form is typically found on the Oklahoma Secretary of State’s website.
  • Providing proof of compliance with state requirements, such as filing Annual Reports, paying taxes, and maintaining a Registered Agent.
  • Pay the reinstatement fee in Oklahoma. The cost of the reinstatement fee amounts to $50. However, the cost will vary depending on the length of time your Oklahoma business has been suspended or dissolved.

Step 5: Wait for Approval

After submitting your reinstatement application and all required documentation, you must await approval from the Oklahoma’s Secretary of State. The processing time for reinstatement applications can vary depending on the Oklahoma and the complexity of your case. Being patient and prepared to provide any additional information or documentation requested by Oklahoma during this time is essential.

Step 6: Notify Creditors and Stakeholders

Once your business has been reinstated, you must notify creditors and stakeholders of your business’s renewed status. This may include:

  • Sending a formal letter to creditors and stakeholders informing them of the reinstatement.
  • Updating your Oklahoma business’s website and social media accounts to reflect the reinstated status.
  • Informing any relevant licensing or regulatory agencies of the reinstatement.

Step 7: Resume Business Operations

After your Oklahoma business has been reinstated and all relevant parties have been notified, you can resume your business operations. Be sure to maintain compliance with state laws and regulations moving forward to avoid future suspensions or dissolutions.

Reinstating or Creating a New Business?

Whether to reinstate a business or start a new one from scratch depends on several factors specific to your situation. Here are some points to consider when making your decision:

  • Costs: The costs of reinstating and starting a new business can vary significantly. Reinstating a business may involve paying outstanding taxes, fees, and penalties while starting a new business requires registration fees and potential legal costs. Compare both options’ costs to determine which is more financially viable.
  • Business History and Reputation: If your previous business has a strong reputation and established customer base, reinstating it may be more beneficial than starting from scratch. On the other hand, if your Oklahoma business has a negative history or unresolved legal issues, start fresh with a new business.
  • Time and Effort: Reinstating a business can be a time-consuming process, as you need to resolve outstanding issues, submit a reinstatement application, and wait for approval. Starting a new Oklahoma business may be faster, as you can register the business and begin operations relatively quickly. Consider which option is more time-efficient based on your situation.
  • Legal and Regulatory Compliance: If your previous Oklahoma business was suspended or dissolved due to non-compliance with state laws and regulations, you should carefully evaluate whether you can maintain compliance if the business is reinstated. If you are confident in your ability to comply with requirements, reinstating the business might be a good option. However, starting a new Oklahoma business might be a better choice if you still determine your ability to maintain compliance.

Ultimately, deciding to reinstate a business or start a new one from scratch depends on your circumstances and goals. Consider the abovementioned factors, consult with professionals such as Oklahoma Business Attorneys and accountants, and evaluate which option best suits your needs and long-term business objectives.

FAQs

How do I reinstate my dissolved Oklahoma business?
File “Application for Reinstatement” with Oklahoma Secretary of State and pay the applicable fee.
Can I reinstate my Oklahoma business online?
Yes, you can reinstate your Oklahoma business online by submitting a “Application for Reinstatement” with the Oklahoma Secretary of State.
How long does it take to reinstate a dissolved Oklahoma business?
Generally, it takes 2 to 3 weeks for the reinstatement process to be completed in Oklahoma.
What documents do I need for Oklahoma business reinstatement?
You need to file a “Application for Reinstatement” and, if required, the annual reports with the Oklahoma Secretary of State.
What is the cost to reinstate an Oklahoma business ?
The cost to reinstate an Oklahoma business varies based on the length of the period of involuntary revocation.
Can I operate my business while it’s inactive in Oklahoma?
No, you cannot operate your business while it’s inactive in Oklahoma.
What happens if I don’t apply for business reinstatement in Oklahoma?
If you fail to reinstate your business in Oklahoma, it will be permanently dissolved.
Do I need to complete any other steps after reinstating a Oklahoma business?
You may need to update your business registration documents and renew your licenses and permits.
Can an Oklahoma business be reinstated with any outstanding debts?
Yes, but you will still owe the outstanding debts you incurred before the dissolution.
What is the fee for renewing a license in Oklahoma?
The fee for license renewal varies by license type in Oklahoma.
When is the best time to apply for reinstatement of my Oklahoma business?
It is recommended that you apply for reinstatement of your Oklahoma business as soon as possible to limit additional penalties or late fees.
Is there a timeframe to renew my Oklahoma business license after reinstatement?
Yes, you must renew your business license before the expiration date set by the Oklahoma regulatory association governing your business.
Can I change my business structure when reinstating my Oklahoma business?
Yes, but it requires filing additional documents and notifying all necessary governmental agencies.
Can I continue to use my previous Oklahoma business name when reinstating?
Yes, if the name is still available and is in line with Oklahoma business law
How do I know if my Oklahoma business is eligible for reinstatement?
If your Oklahoma business was dissolved due to failure to file annual reports or taxes, it is generally eligible for reinstatement after these issues are addressed.
Will I be issued a new EIN when reinstating my Oklahoma business?
No, your Oklahoma business will retain its original EIN after reinstatement.
Does my Oklahoma business need to lose its company status before reinstatement?
No, it is recommended you retain your company status in order to speed up your reinstatement process in Oklahoma.
Is a registered agent required when reinstating an Oklahoma business?
Yes, registered agent service is required as part of doing business in Oklahoma.
Can I keep the same business registration number when reinstating my Oklahoma business?
Yes, you can keep the same registration number in Oklahoma after business reinstatement.
Does my Oklahoma business need to be completely current on all past fees before reinstatement?
Yes, all past due fees must be cleared before reinstatement.
Were your employees required to file unemployment during the dissolution of my Oklahoma business?
Your defunct business must mail duplicates of the DE-5304 to both EDD and the registrar by the end of the month.
Can I still add to or change by business paperwork in Oklahoma during the reinstatement process?
No, additional filings or changes cannot be completed until after the reinstatement process is finished and your Oklahoma business is fully reinstated.
Is Oklahoma a difficult state to reinstate a business in?
No, reinstating a business in Oklahoma is relatively straightforward and simple.
Can I use expedited services to reinstate my Oklahoma business faster?
Yes, you may be able to expedite your reinstatement application with the Oklahoma Secretary of State.
Is there a penalty for late reinstatement of my Oklahoma business?
Yes, there are additional late fees and penalties assessed for delinquent reinstatement filings in Oklahoma.
Can my business be reinstated over the phone in Oklahoma?
No, you cannot initiate reinstatement of your Oklahoma business over the phone.
What must I do to reactivate my sales tax permit when reinstating my Oklahoma business?
To reactivate your sales tax permit, just restart your registration with the Oklahoma Tax Commission (OTC).
Can I sell products or services immediately after reinstating my Oklahoma business?
Yes, after Colorado reinstatement proceedings are complete, your business will be viewed as once again methodically operating as it conduct business ordinarily.
How can I reinstate my business in Oklahoma?
You can reinstate your business in Oklahoma by submitting the necessary paperwork and fees to the Oklahoma Secretary of State’s office.
What do I need to do to reinstate my Oklahoma business?
To reinstate your Oklahoma business, you will need to file the necessary documents and pay any outstanding fees or taxes owed to the state.
How much does it cost to reinstate my Oklahoma business?
The cost to reinstate your Oklahoma business will vary depending on the type of business and the amount of time that has passed since the business was dissolved.
What is the process for reinstating an Oklahoma business?
The process for reinstating an Oklahoma business involves filing the necessary paperwork, paying any outstanding fees or taxes owed to the state, and submitting an application for reinstatement.
How long does it take to reinstate an Oklahoma business?
The time it takes to reinstate an Oklahoma business will depend on the number of documents that need to be filed, the backlog at the Oklahoma Secretary of State’s office, and the complexity of your case.
What are the reasons why a business in Oklahoma might be dissolved?
A business in Oklahoma may be dissolved for reasons such as failing to file annual reports, failing to pay taxes or fees, or for other violations of state business laws.
What are the consequences of a business being dissolved in Oklahoma?
If a business is dissolved in Oklahoma, it will no longer be able to operate legally, which may result in a loss of business assets, contracts, employees, and customers.
Can I reinstate an Oklahoma business that has been dissolved by the state?
Yes, you can reinstate an Oklahoma business that has been dissolved by the state by following the necessary procedures and paying any outstanding fees or taxes.
What documents do I need to file to reinstate an Oklahoma business?
The documents needed to reinstate an Oklahoma business will depend on the reason for dissolution and the specific requirements of the Oklahoma Secretary of State’s office.
What is the deadline for reinstating an Oklahoma business after it has been dissolved?
The deadline for reinstating an Oklahoma business after it has been dissolved will vary depending on the specific circumstances of each case.
Can I reinstate an Oklahoma business that was voluntarily dissolved?
Yes, you can reinstate an Oklahoma business that was voluntarily dissolved by filing the necessary forms and paying any outstanding fees or taxes.
What is the difference between dissolving and revoking a business in Oklahoma?
Dissolving a business in Oklahoma is usually voluntary, while revoking a business is done by the state due to noncompliance with state regulations.
What happens if I don’t reinstate my Oklahoma business?
If you don’t reinstate your Oklahoma business, your assets may be seized, contracts may be cancelled, employees may be terminated, and you may be subject to fines and penalties.
Can I reapply for a Oklahoma business license after it has been revoked?
Yes, you can reapply for a Oklahoma business license after it has been revoked by following the necessary procedures for reinstatement.
Can I file for reinstatement of an Oklahoma business that has been terminated by the IRS?
Yes, you can file for reinstatement of an Oklahoma business that has been terminated by the IRS by following the necessary procedures and paying any back taxes owed.
What is a certificate of good standing in Oklahoma and do I need one to reinstate my business?
A certificate of good standing in Oklahoma is a document that verifies that your business is current with all state fees and taxes. You may need one to reinstate your business.
Can a sole proprietorship in Oklahoma be reinstated?
If a sole proprietorship in Oklahoma has been dissolved, you may still be able to reinstate it by filing the necessary documents and paying any outstanding fees or taxes.
Can I appeal the revocation of my Oklahoma business license?
Yes, you can appeal the revocation of your Oklahoma business license by following the appeals process established by the state.
What are the benefits of reinstating an Oklahoma business?
The benefits of reinstating an Oklahoma business can include recovering lost assets, rebuilding customer relationships, and continuing to generate revenue.
Do I need a lawyer to reinstate my Oklahoma business?
You do not necessarily need a lawyer to reinstate your Oklahoma business, but it may be helpful in certain cases to have legal advice.
Can I dissolve my Oklahoma business and then reestablish it under a new name?
Yes, you can dissolve your Oklahoma business and then register a new one with a new name, but you will need to file the proper paperwork with the state.
How can I prevent my Oklahoma business from being dissolved?
To prevent your Oklahoma business from being dissolved, you should file annual reports, pay all fees and taxes on time, and comply with all state business regulations.
What is a reinstatement fee in Oklahoma?
A reinstatement fee in Oklahoma is a fee that you may have to pay to the state to have your business reinstated.
What is a registered agent in Oklahoma and do I need one to reinstate my business?
A registered agent in Oklahoma is a person or company that accepts legal documents on behalf of your business. You may need one to reinstate your business.
Can I start a new Oklahoma business if my old one was dissolved?
Yes, you can start a new Oklahoma business if your old one was dissolved, but you will need to file the necessary paperwork and get a new business license.
Is there a grace period for reinstating my Oklahoma business after it has been dissolved?
The grace period for reinstating your Oklahoma business after it has been dissolved will depend on the specific circumstances of your case.
How do I know if my Oklahoma business has been dissolved?
You can check the status of your Oklahoma business by searching the public records of the Oklahoma Secretary of State’s office.

Also Read

Conclusion

Reinstating a business in Oklahoma can be complex and time-consuming. However, following the steps outlined in this guide, you can successfully reinstate your business and resume operations. Remember to stay diligent in maintaining compliance with state laws and regulations to avoid future issues and ensure the continued success of your business.

Leave a Comment