The Certificate of Good Standing is also referred to as the Illinois Certificate of Status, Certificate of Existence, or Certificate of Authority.
A certificate is occasionally needed for the verification of a company. The most common reasons to need 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
What are the Requirements to get a Good Standing Certificate in Illinois?
The certificate is only available to an entity that is registered and in compliance 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 Illinois Annual Report filing must be up-to-date and all state of Illinois fees and taxes paid.
A Sole Proprietorship or Partnership is not able to obtain a Certificate of Good Standing. To prove the existence of a Sole Proprietorship or Partnership, an Illinois Assumed Name Certificate is typically requested.
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
- Limited Partnership – $47
- Limited Liability Partnership – $27
- Not-for-Profit – $5
In addition to the state filing 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 company 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.”
Who provides the Certificate of Good Standing?
In Illinois, the Illinois Secretary of State provides a Certificate of Good Standing.
For more information, contact:
Illinois Secretary of State
Department of Business Services
501 S. 2nd St.,
Springfield, IL 62756
Phone: (217) 782-6961
Fax: (217) 524-8281
Email: sosbscorpexp@ilsos.gov
How long does it take to get a Certificate of Good Standing in Illinois?
After paying the filing fee and checking out, you can download and print immediately.
Does the state of Illinois require a letter of good standing?
The state of Illinois does not require one, but it may be needed to prove that your business is in good standing with the state when opening a bank account, applying for a business loan, registering for business licenses, etc.
How long is an Illinois Certificate of Good Standing valid?
Does the state of Illinois require a letter of good standing?
The state of Illinois does not require one, but it may be needed to prove that your business is in good standing with the state when opening a bank account, applying for a business loan, registering for business licenses, etc.
Is a Certificate of Good Standing necessary?
It is not necessary to order a Certificate of Good Standing unless an entity needs to verify the existence of your business.
How can a company lose its status of Good Standing?
A company’s status is typically lost by not filing its annual report on time, timely paying taxes, or maintaining a registered agent in Illinois.
What happens if a business isn’t in good standing?
A business that isn’t in good standing with the state could cause the entity to lose the liability protection for its owners, in addition to additional fees and penalties.
