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Biennial Statement

Biennial Statement

New York Biennial Statement

According to Section 408 of the New York Business Corporation Law, all domestic and foreign business corporations must file a Biennial Statement every two years.

The Biennial Statement should include the following information:

(i) The name of the chief executive officer,
(ii) The business address of the chief executive officer,
(iii) The location of its executive headquarters
(iv) The address where the New York Secretary of State will send copies of legal documents accepted on the corporation's behalf; and
(v) The percentage of women on the board and the number of males that make up the board.

After every 2 years, as an LLC, you need to comply with Section 301(e) of the Limited Liability Company Law to file Biennial Statement, including their mailing address to which any process accepted on their behalf would be mailed by New York's Secretary.

It’s Importance

The New York Department of State's records will show that a company or LLC that has not filed its Biennial Statement is late in the submission of its New York Biennial Statement. If you fail to file a NY Biennial Statement, it will be reflected on any Certificate of Status or status letter issued from the New York Department of State that can cause certain commercial transactions to not be completed.

To initiate litigation, companies and LLCs have to serve the process of New York’s Secretary of State’s method. Such process must be sent to the corporation or LLC at the postal address on file for service of process by the New York Department of State. A lot of companies often relocate without notifying the New York Department of State of their new address. A company or LLC can avoid a default judgment by filing a Biennial Statement in NYS, which allows them to update their address for service of process.

When To File

In New York, a company's filing period is the month in which its initial Certificate of Incorporation, Articles of Organization, or Application for Authority was filed with the Department of State of the State of New York. It is required to submit a Biennial Statement in NYS every two years.

At Legal Founders, we take care of all your legal documentations so that you can focus on your business and its growth while we deal with all the paperwork, process and follow-ups. Because of our impeccable track record we never fail to have your documentations processed smoothly and effectively.

Fill the form below and our team will connect with you to process your NYS Biennial Statement.
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