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

by
Reinstate Utah Business

Running a business or forming an LLC in Utah 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 Utah, you do not need to worry. This guide will provide a step-by-step process to Reinstate your Business in Utah and get back on track.

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

How to Reinstate a Business in Utah

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 Utah 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 Utah, 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 Utah Registered Agent Services in Utah.

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 Utah

In Utah, reinstating your business needs a lot of preparation, more specifically if it is located in Salt Lake City. To be aware and prepared, we have gathered information on the steps to reinstate your Utah business. If it is manageable to Dissolve a Business in Utah, it is also bearable to reinstate your Utah 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 Utah business is determining why it is suspended or dissolved. This information can be found in the notice issued by Utah or by contacting the Utah 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 Utah Annual Reports and paying associated fees. In Utah, the LLC Annual Reports costs $20 while the Corporation Annual Report costs $15.
  • 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 Utah 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 Utah 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 Utah.

– WEBINARCARE EDITORIAL TEAM

Step 3: Obtain a Certificate of Existence

Certificate of Existence is a document issued by Utah 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 Existence 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 Existence in Utah, you will need to:

Get and Submit the Form

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

Online Application Process:
  • Visit the State Website: In Utah, 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 Utah Secretary of State to download the required application forms for the Certificate of Existence. Complete the forms, ensuring all information is accurate and up-to-date.
  • Provide Required Documentation: In Utah, you may need to include copies of your registration documents, Certificate 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 Utah Division of Corporations & Commercial Code, P.O. Box 146705, Salt Lake City, UT 84114, along with the required fees.
Pay Any Associated Fees

The fees for obtaining a Certificate of Existence cost $12, vary depending on the type of business entity. Some states also offer expedited processing for an additional fee. Check the Utah Secretary of State website for the most up-to-date fee schedule. The Certificate of Existence’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 Existence in Utah.

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 Existence, you can submit your reinstatement application to the Utah’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 Utah 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 Utah. The cost of the reinstatement fee amounts to $70. However, the cost will vary depending on the length of time your Utah 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 Utah’s Secretary of State. The processing time for reinstatement applications can vary depending on the Utah and the complexity of your case. Being patient and prepared to provide any additional information or documentation requested by Utah 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 Utah 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 Utah 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 Utah 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 Utah 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 Utah 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 Utah 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 Utah Business Attorneys and accountants, and evaluate which option best suits your needs and long-term business objectives.

FAQs

How can I reinstate my dissolved Utah LLC?
You can reinstate your dissolved Utah LLC by filing a reinstatement application with the Utah Division of Corporations.
What is the fee for reinstating a dissolved Utah corporation?
The fee for reinstating a dissolved Utah corporation varies depending on the corporation’s type and how long it has been dissolved.
Can someone else submit my Utah LLC reinstatement request for me?
Yes, as long as they have your written permission to do so.
How long does the Utah business reinstatement process take?
The Utah business reinstatement process can take 5-10 business days.
Will I need to file a new Utah business registration if my business was dissolved?
If your business was dissolved, you will need to file a reinstatement application, not a new registration application.
Do I need to have a registered agent for my reinstated Utah LLC?
Yes, Utah requires all LLCs to have a registered agent.
Can I change my Utah LLC name during the reinstatement process?
Yes, you can change your Utah LLC name during the reinstatement process.
What happens if I do not file to reinstate my Utah corporation?
If you do not file to reinstate your Utah corporation, it will remain dissolved and in bad standing with the state.
Can I still operate my Utah business if it was dissolved?
No, you cannot legally operate a Utah business that has been dissolved.
What paperwork do I need to submit for my Utah LLC reinstatement?
You need to submit a reinstatement application and any necessary documentation to the Utah Division of Corporations.
Can I reinstate my Utah business while it has outstanding taxes owed?
No, you cannot reinstate your Utah business if you have outstanding taxes owed.
What is the minimum amount of time my Utah corporation must be dissolved before I can reinstate it?
A Utah corporation can be reinstated at any time after being dissolved.
Can my Utah LLC be reinstated online?
Yes, Utah does allow LLC reinstatement applications to be submitted online.
Do I need to provide a reason for reinstatement of my Utah corporation?
No, you do not need to provide a reason for reinstating your Utah corporation.
Can I still use my Utah business name if it was dissolved?
No, if your Utah business was dissolved, you cannot legally use the same business name.
What will happen to my Utah business name if I do not reinstate my business?
If you do not reinstate your Utah business, your business name may be available for someone else to use.
What is the penalty for operating a Utah business while it is dissolved?
Operating a Utah business while it is dissolved can result in fines and legal action.
How can I verify that my UT LLC has been reinstated?
You can verify that your UT LLC has been reinstated by checking the Utah Secretary of State website.
Where can I find the Utah LLC reinstatement form?
You can find the Utah LLC reinstatement form on the Utah Division of Corporations website.
Can a Utah corporation that was dissolved in bankruptcy be reinstated?
Yes, a Utah corporation that was dissolved in bankruptcy can be reinstated.
Do I need to file to reinstate my Utah business with the IRS as well?
No, you do not need to separately file with the IRS to reinstate your Utah business.
Will reinstating my Utah business reinstate any licenses or permits I may have had?
No, reinstating your Utah business, will not automatically reinstate any licenses or permits you may have had.
Is there a reinstatement fee discount for military members stationed in Utah?
Utah does offer a fee discount for military members stationed in Utah who are reinstating a business.
Can a foreign Utah business that was dissolved be reinstated?
Yes, foreign Utah businesses that were dissolved can be reinstated.
How long do I have to reinstate my Utah business before I need to reapply for an EIN?
Your EIN will remain the same even if your business is dissolved and reinstated.
Can I change the ownership structure of my Utah business during reinstatement?
Yes, you can change the ownership structure of your Utah business during reinstatement.
Can I get a delayed reinstatement for my Utah corporation?
Utah does not offer a delayed reinstatement option for corporations.
Can a Utah LLC be reinstated if the registered agent is no longer available?
Yes, a Utah LLC can be reinstated if the registered agent is no longer available, but a new registered agent must be appointed as part of the reinstatement.
Are there any fees associated with reinstating a Utah business?
Yes, there is a reinstatement fee of $225 and any unpaid fees or taxes owed to the state must be paid.
Do I need to renew my Utah business if it has been inactive?
Yes, if your Utah business has been inactive but hasn’t undergone dissolution, you still need to renew it.
How long do I have to file my Utah business’s reinstatement paperwork?
You have five years to file reinstatement paperwork for your Utah business.
Can I reinstate my Utah LLC online?
Yes, you can reinstate your Utah LLC online through the Utah Division of Corporations and Commercial Code’s website.
Can anyone file a reinstatement for my Utah business?
No, only the Utah business’s owners or legal representatives can file a reinstatement.
What if my Utah business’s name has been taken during my period of inactivity?
If someone has taken your Utah business’s name during your period of inactivity, you’ll need to choose a new name.
Can I reinstate a Utah business that has gone through dissolution?
A dissolved Utah business cannot be reinstated. Instead, you must file a new Utah business registration.
What happens if I don’t pay the reinstatement fee for my Utah business?
If you don’t pay the reinstatement fee for your Utah business, it won’t be reinstated and will remain inactive.
Can I file my Utah business’s reinstatement paperwork in person?
Yes, you can file your Utah business’s reinstatement paperwork in person at the Utah Division of Corporations and Commercial Code’s office.
How long does it take to process a Utah business’s reinstatement paperwork?
It typically takes 5-7 business days to process reinstatement paperwork for a Utah business.
What documents do I need to file Utah business reinstatement paperwork?
You’ll need to file an Application for Reinstatement with any required documentation and fees for your Utah business.
Can I expedite the reinstatement of my Utah business?
Yes, you can expedite your Utah business’s reinstatement for an additional fee.
What is the process for reinstating a Utah corporation?
The process for reinstating a Utah corporation is the same as any other business entity. You must file an Application for Reinstatement with the Utah Division of Corporations and Commercial Code.
Will I need to submit a new Utah business license application when reinstating my business?
No, you won’t need to submit a new Utah business license application when reinstating your business.
Can I reinstate a Utah business that has been administratively dissolved?
Yes, you can reinstate a Utah business that has been administratively dissolved, but you’ll have to pay all fees and follow the reinstatement process.
Can I reinstate my Utah business if I’m late on filing annual reports?
Yes, you can reinstate your Utah business if you’re late on filing annual reports, but you’ll need to file the reports before you can be reinstated.
What if my Utah business has filed for bankruptcy during its period of inactivity?
If your Utah business has filed for bankruptcy during its period of inactivity, it may complicate the reinstatement process.
How far back can I reinstate a Utah business?
You can reinstate a Utah business as far back as five years from the date it was dissolved.
Can I file for reinstatement for Utah multiple businesses at once?
You’ll need to file reinstatement paperwork separately for each Utah business you wish to reinstate.
What happens if I try to operate my Utah business while it’s still inactive?
Operating a Utah business while it’s inactive may result in fines or other legal consequences.
Can I file for reinstatement of a Utah business that was voluntarily dissolved by its owners?
Yes, you can file for the reinstatement of a Utah business that was voluntarily dissolved, so long as it has been less than five years since the dissolution date.
What is the difference between a Utah LLC and a Utah corporation when it comes to reinstatement?
There is no significant difference between restoring an LLC and reinstating a corporation in Utah; both types of entities must file an Application for Reinstatement to be brought back into legal standing.
How can I check the current status of my Utah business?
You can check the status of your Utah business by looking it up in the Utah Division of Corporations and Commercial Code database.
Will I need to submit a new Utah federal tax ID number when reinstating my Utah business?
You won’t need to submit a new Utah federal tax ID number; you should use the same number you received when your business was initially registered.
How can I prevent Utah business dissolution?
Paying all applicable fees and taxes promptly and regular filing of required paperwork according to regulators are best ways to protect a Utah business from dissolving.
Is there a grace period to file administrative and/or renewal documents in Utah?
While there might be a limit for the entity’s business type of a listed grace period/threshold in Utah, it’s the responsibility of each company to maintain the submission of administrative forms within the designated term.
Can I keep my existing Utah business’s EIN (Employer Identification Number) if reinstating the business?
Yes, the EIN is used constantly unless ownership/business structure changes.

Also Read

Conclusion

Reinstating a business in Utah 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