How to Withdraw a Foreign LLC or Corporation in South Dakota

 

Withdrawing a foreign South Dakota LLC or corporation means officially ending the business’s ability to legally operate in South Dakota. We’ll show you how it’s done.

What is a foreign South Dakota business?

A foreign business is a company formed in another state that wants to do business in South Dakota. “Foreign” does not mean from another country. The term foreign simply means the business was created outside of South Dakota.

To operate legally, the business may need to register through a process called foreign qualification. If it stops doing business in South Dakota, it can withdraw its registration.

Steps to Withdraw a Foreign Business in South Dakota

If your out-of-state business has stopped operating in South Dakota, you should:

1. File an application with South Dakota’s Secretary of State to withdraw your foreign LLC or corporation.
2. Check with South Dakota’s Department of Revenue to ensure all tax obligations are satisfied.
3. Notify your South Dakota registered agent (if you have one) that you’re withdrawing your business from South Dakota.

How do I withdraw my foreign LLC in SD?

To withdraw your foreign South Dakota LLC, file a Notice of Cancellation of Certificate of Authority with South Dakota’s Secretary of State (SOS).

How do I withdraw my foreign corporation in SD?

To withdraw your foreign South Dakota corporation, file an Application for Certificate of Withdrawal with the SOS.

How much does it cost to withdraw a foreign business in Oklahoma?

Both foreign LLCs and foreign corporations pay $10 to file their applications with the state.

 

Foreign South Dakota LLC or Corporation Withdrawal FAQs

How much does it cost to cancel your out of state registration with South Dakota?

To withdraw your South Dakota foreign limited liability company in South Dakota, there is a $10 filing fee.

Do you need a South Dakota Department of Revenue clearance first?

No. But a South Dakota registered agent resignation may be necessary.

How long does it take the state to process the withdrawal filing?

Your withdrawal will be processed in about two business days.

What agency do you need to file the withdrawal with?

South Dakota Secretary of State Office
500 E. Capitol Ave.
Pierre, SD 57501
Phone: (605) 773-4845
Fax:  (605) 773-4550
Email:  [email protected]

What happens if you don’t file a withdrawal?

If you stop doing business in South Dakota but do not file a withdrawal, you may continue to receive annual report notices and fees. If you fail to file, the state can revoke your authority to do business. To operate in South Dakota again, a foreign entity may need to file a new Certificate of Authority and pay the required filing fee.

If I don’t file my annual report, do I lose my authority to do business in South Dakota?

Yes, a foreign entity that has been administratively revoked may not carry on any business except that necessary to wind up its business affairs in South Dakota.

What are the late fees and penalties to re-register a foreign business in South Dakota?

If a foreign business loses its authority to operate in South Dakota, it must file a new Certificate of Authority to register again. The filing fee is $750, and the business must start the registration process over.