Chapter 8 - Continuing Responsibilities
After its initial organization, a formal business association must continue to meet certain statutory requirements.
Business Entity Reports must be filed to maintain current contact information for the public record. This report does not require financial or business activity of the entity. The filings are due during the anniversary month of the organization's formation or the anniversary month when granted authority to do business in the state of Indiana.
The purpose of the business entity report keeps the entity in good standing within the records of the Secretary of State. Failure to do so may allow a creditor to pierce the corporate veil and subject a shareholder's personal assets, such as bank accounts and other property, to the satisfaction of the debts and liabilities of the corporation.
As a courtesy the Secretary of State sends a reminder notice of the filing obligation. The office sends an email 90 days prior to the due date. If the business has yet to file the report 30 days prior to the due date the office sends a letter through regular USPS to the principal address. INBiz users will receive both an email reminder and an alter of their INBiz dashboard.
A for profit business association must file the report biennially ( every two years) in the anniversary month of formation along with a $50.00 filing fee ($32.00 online). You may access the online filing feature or print the report to mail to the Secretary of State here Business Entity Reports must be filed annually with a $20 filing fee ($22.00 online) for nonprofit entities.
Whenever the Registered Agent, Registered Agent's address, or Principal Office Address changes, a written notification must be given to the Secretary of State. You may file these changes online via INBiz or by paper
Notice of Change of Principal Office Address 50656
Used to change principal office address
Notice of Change of Registered Office or Agent 26276
Used to change registered agent information
Notice of Change of Principal/Officer 50655
Used to change the Principal's or Officer's information
It is important to treat the corporation or formal association as a separate and distinct entity. Note: Treating the corporation like a corporation includes, among other corporate acts, issuing stock certificates which represent share ownership, electing directors and officers, filing the biennial report, keeping annual shareholder meeting minutes and maintaining a corporate bank account and financial records.
Filing Articles of Incorporation (see Chapter 5 and/or 6) marks the official beginning of a formal association. The official end to an entity is effective only upon the filing of Articles of Dissolution. Although an entity may stop doing business, it is still necessary to meet all statutory requirements such as business entity reports, until it is voluntarily dissolved.
Businesses must obtain an Employer Identification Number. See Chapter 7.
If you have a business with employees you have numerous responsibilities. Indiana Department of Workforce Development offers an employer handbook . The agency can be contacted at DWD at (317) 232-7436 or (800) 437-9136 or www.in.gov/dwd/