Keeping the company in good standing · A term for founders abroad
What is reinstatement?
Bringing a company the state dissolved back into existence, by filing what was missed and paying the fees, within a limited time.
Checked against the IRS's instructions and the states' own rules. Reviewed by Saais Patel, compliance reviewer.
Term 81 of 105 in the glossary, filed under R.Wyoming Secretary of State: business filing fees
Reinstatement, for a founder abroad.
A company dissolved by its state for missed reports or tax can usually be reinstated: file every missing report, pay what's owed plus a reinstatement fee, and the company carries on with the same name, file number and EIN, as if it hadn't lapsed.
- Wyoming: within two years of dissolution, with a $100 reinstatement fee; after that, a new company has to be formed.
- Delaware LLC: revival after cancellation, with every unpaid tax, penalty and interest, plus a revival filing.
A registered agent has to be in place first, so a lapsed agent is often replaced as part of it. What happens if you miss a filing sets out the steps.
Sources: Wyoming Secretary of State: business filing fees; Delaware LLC Act, subchapter XI: the annual tax, cancellation and revival.
Read next · guide · 4 minWhen a US company misses a filing: good standing, dissolution and reinstatementWhat founders ask next.
- Does reinstatement keep my EIN and bank account?
- It keeps the company, so the EIN stays the same. Tell the bank the company was reinstated, since it may have frozen the account while it was dissolved.
03 · See also
- Keeping the company in good standingAdministrative dissolutionA state ending a company that stopped filing or paying; usually reversible by reinstatement, at a cost, within a limited time.Read the term
- Keeping the company in good standingGood standingThe status of a company that has filed and paid everything its state requires; lost by missing a report or tax, and proved by a certificate.Read the term
- Keeping the company in good standingAnnual reportThe yearly filing a state requires to keep a company in good standing: $60 in Wyoming; a Delaware LLC files none and pays a yearly tax instead.Read the term
- Keeping the company in good standingWyoming annual report licence taxWyoming's yearly charge on an LLC: $60, or $0.0002 per dollar of Wyoming assets if more, due on the first day of the month it was formed in.Read the term
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