How do you dissolve an Illinois Corporation?
To dissolve your corporation in Illinois, you submit in duplicate the completed BCA 12.20, Articles of Dissolution form by mail or in person to the Secretary of State along with the filing fee.
What is the filing fee to dissolve or cancel an Illinois Corporation?
To dissolve your Illinois Corporation, a $5 filing fee is required. Expedite is an additional $50 requested in person.
Do you need a Department of Revenue clearance before the Illinois Secretary of State will accept your dissolution?
No. The Illinois Secretary of State will check your franchise tax status before accepting you articles of dissolution.
How long does it take the state to process the filing in Illinois?
Normal processing is seven to ten days and expedited processing requested in person is processed in 24 hours.
How long before someone can take your business name?
If you voluntarily dissolve your Illinois Corporation, the business name is immediately available to another entity that wishes to register with the secretary of state using your name.
What is the penalty if you just don’t file your annual reports?
For failure to file your annual report and pay the fee, the penalty is administrative dissolution in 90 days if you have not corrected the delinquency. The monetary penalty depends upon the amount of franchise tax that your corporation owes to the Illinois Secretary of State. You will have to speak to the Corporate Documents Office at (217) 782-1837 to receive help determining your penalty and interest. The Application for Reinstatement carries a $200 filing fee.
Where do I send my Illinois Corporate Articles of Dissolution?
Department of Business Services
Michael J. Howlett Building
501 S. Second St., Rm 328
Springfield, IL 62756
(217) 782-6961, or
Illinois Secretary of State
69 W. Washington, Suite 1240
Chicago, IL 60602