Minnesota businesses need to file renewals with the Secretary of State in order to remain active. It is a good time to check your entity’s status with the Minnesota Secretary of State and renew your business or amend/change your filing if necessary. Here are some reminders:
- Any entity that has filed with the Minnesota Secretary of State must file an annual renewal once every calendar year, beginning in the calendar year following the original filing with the Secretary of State.
- Not only do entities need to renew annually, but assumed names, D/B/As, and other names must be renewed as well.
- Entities that fail to file their annual renewal will be effectively terminated (this can be referred to as “Administrative Termination” or “Statutorily Dissolved”). Ultimately, entities that are not renewed in a timely manner are no longer recognized as existing in Minnesota.
- If an entity, assumed name, D/B/A, etc. is terminated, there is a process for retroactive reinstatement. However, there will be additional costs, and the name still needs to be available (and there are no guarantees).
- Things can become very complicated if an entity fails to renew in a timely manner. So, it is a good idea to set a calendar reminder and make sure to check renewal status every year. The good news is that the renewal process with the Minnesota Secretary of State’s Office is readily accessible, and it can usually be completed online – click here to get started!
FMJ does help a number of clients with the annual renewal process, and we are happy to help with questions or renewal/amendment issues. Please reach out to Attorney Jennifer Anderson or Transaction Manager Beth Scanlon to discuss your annual renewal plan or any other questions you may have about this process.
Related Attorneys
Jennifer L. Anderson
Beth E. Scanlon