A Certificate of Good Standing is a document issued by the Illinois Secretary of State showing the official existence of registered business entities like a Limited Liability Company (LLC), Corporation, LP, LLP or Not-for-Profit that is authorized to do business in Illinois.
This certificate is also referred to as the Certificate of Status, Certificate of Existence, Certificate of Authority, or Certificate of Status.
This is occasionally needed for the verification of a company. The most common reasons for one includes:
- Opening a business bank account or merchant account
- Applying for a business loan
- Signing up with vendors and suppliers to purchase inventory
- Registering or renewing business licenses
- Registering as a foreign entity in order to operate in other states
Read More: What is a Certificate of Good Standing?
What are the Requirements to get a Certificate of Good Standing?
The certificate is only available to an entity that is registered with the Secretary of State’s office. Entities that can register with the Secretary of State include Limited Liability Companies (LLC), Corporations, Limited Partnerships (LP), Limited Liability Partnerships (LLP) and Not-for-Profit Corporations.
In addition to being a registered entity, the Annual Report filing must be up-to-date and all state of Illinois fees and taxes paid.
Cost of an Illinois Certificate of Good Standing
The cost of a Certificate of Good Standing in Illinois varies depending on the entity
- Limited Liability Company and Corporation – $25
- Not-for-Profit – $5
- LP – $47
- LLP – $27
In addition to the state fee, a payment processing fee of 2.35% will be added.
How long is a Certificate of Good Standing valid in Illinois?
The length of time a certificate is valid will vary depending on the requestor, but is generally accepted within 60 days of purchase. Depending on the requestor a screenshot or printout from the Secretary of State’s website is sufficient, saving you from needing to purchase a certificate.
How to get a Certificate of Good Standing in Illinois
Step 1 – Visit the Illinois Secretary of State’s website.
Step 2 – Search for the registered business name.
Step 3 – Click on the name of the correct Corporation/LLC name
Step 4 – At the bottom of the screen, click on the button labeled “Purchase Certificate of Good Standing”.
How long does it take to get a Certificate of Good Standing in Illinois?
After paying the filing fee and checking out, you will be able to download and print immediately.
How can a company lose their status of Good Standing?
A company’s status is typically lost by not filing their annual report on time, timely paying of taxes or maintaining a registered agent.
For more information contact:
Illinois Secretary of State
Department of Business Services
501 S. 2nd St.,
Springfield, IL 62756
Phone: (217) 782-6961