Filing Articles of Organization in Illinois
In order to form an LLC in Illinois, you must file Articles of Organization with the state. In this article, we’ll walk you through the process with our PRIME Corporate Services guide. Need more help? You can reach out to one of our PRIME advisors for a free consultation.
Step 1: Obtain your Illinois Articles of Organization form
Step 2: Fill out the Illinois Articles of Organization form
Step 3: File the Articles of Organization form
Step 1: Obtain Your Articles of Organization Forms
The form is accessible online, and you can submit it virtually or download it to be mailed to the Illinois Secretary of State.
Step 2: Fill Out The Forms With Accurate Information About Your Illinois LLC
Once the form is obtained, you should fill it out with the following required information. Important note: the online form has additional sections to fill out, whereas the hard copy only requires the information listed below.
- Entity Name
- Entity Address
- Business Purpose
- Registered Agent Name
- Registered Agent Address
- Governing Authority
- Effective Dates
- Effective Duration
An ideal business name is legally correct, creative, and memorable. Here are some factors to look out for when choosing a business name:
- It should meet the Illinois naming guidelines.
- The name can’t be in use by another Illinois business
Your Illinois business name must meet the state’s naming guidelines, including:
- It must contain the phrase “limited liability company” or (LLC or L.L.C.). Low-profit LLC’s must state “L3C.”
- The name cannot have language implying that the LLC is connected with a state or federal government agency or corporation.
- The name must be distinguishable from other business entities.
- The name can’t include “Corporation, Corp., Incorporated, Inc., Ltd., Co., Limited Partnership, and L.P.”
- The name can’t contain restricted words (banks, insurers) .
- The name can’t contain words that imply corporate fiduciary unless permitted by the Secretary of Financial and Professional Regulation.
Check Name Availability:
To make sure your desired business name is available, conduct a name search on the Illinois Secretary of State website. This process is free and easy to do.
If you have any questions about this process, schedule a free consultation call with one of our PRIME advisors.
Register Your Domain Name:
Part of the process of reserving your name is to see if your desired web domain is available. It is best practice to reserve the URL ahead of time, so someone else doesn’t take it.
Location of LLC Office
The state requires that the person filing on behalf of the business lists the county name in which the officer resides.
Purpose
The LLC can be formed for any purpose as long as it is legal. Pay attention to specific language or licensing that may be required for licensing, tax-exemption, or tax-deductible status.
Governing Authority
The business leader must decide if the organization will be member-managed or manager-managed. A list of contact information of the respective governing authority.
Registered Agent and Address
In Illinois, the registered agent manages the LLCs legal documents. The requirements for choosing an agent include:
- Your registered agent can be anyone 18 years or older.
- They must have an Illinois residential address.
- They must be available at the registered office during regular business hours.
- The agent’s address cannot be a P.O. box.
Effective Dates and Duration
You must choose an effective start and end date for your Articles of Organization. If a dissolution date is not designated, the LLC will be considered perpetual.
Step 3: Submit the Paperwork
Finally, to complete the registration process for your Illinois LLC, you need to officially file the Articles of Organization with the Illinois Department of State.
This can be completed online or in person. The state filing cost is $150 and can be mailed to:
Department of Business Services
Limited Liability Division
501 S. Second St., Rm. 351
Springfield, IL 62746
The expected turnaround time is roughly 10 business days. To expedite the process by mail, you can pay an extra fee.
If you have any questions about this process, schedule a free consultation call with one of our PRIME advisors.
Steps After Your Illinois LLC Is Officially Formed
Once you’ve filed your Articles of Organization, you should take the following steps:
- Create an Operating Agreement
- Get an EIN
- Open a Business Bank Account
- Get Licenses and Permits
Create an Operating Agreement
It is best practice to create a Illinois LLC Operating Agreement, a legal document that outlines the role each person plays within the LLC.
This step is not required but it is still a good idea. This agreement can be filed at any point during the Articles of Organization. This will be kept in your LLC’s private business records.
Get an EIN
An Employer Identification Number (EIN) is an LLC’s social security number. This number is needed for hiring employees or opening business bank accounts.
You can get your EIN through the IRS website, mail, or fax.
Open a Business Bank Account
Opening a business bank account is important, in order not to mix your personal with your business assets. The sooner an account can be opened, the less likely it is to mix the assets.
Get Licenses and Permits
Acquiring the proper licenses and permits are key to registering your LLC. The U.S. Small Business Administration (SBA) guide has federal business licenses and permits guidelines.
Local clerks are a good place to ask about county licenses and permits.
PRIME Corporate Services can help you with all of the steps in this process. Reach out to us today for a free consultation!