How To Withdraw a Foreign Arkansas Business
In this guide to withdrawing a foreign LLC or corporation in Arkansas, we’ll go over what it means to be a foreign business, the forms you’ll need to file to withdraw or cancel it, and anything else you need to know.
Steps to Withdrawing a Foreign Arkansas LLC or Corporation
To withdraw your foreign LLC or corporation in Arkansas, you’ll need to file official state paperwork with Maryland’s Department of Assessments and Taxation (SDAT). Our guide shows you how to do it.
What is a foreign Arkansas business?
When a company expands to another state, they’re called “foreign businesses.” To operate legally, they need to register with their new state by completing a process called foreign qualification. If the business stops doing business in that state, they can withdraw their business and cancel their foreign registration.
How to withdraw a foreign LLC in Arkansas?
File an Application for Cancellation by Foreign Limited Liability Company with Arkansas’s Secretary of State (SOS). It costs $50 to file this form.
How to withdraw a foreign corporation in Arkansas?
File a Certificate of Withdrawal of Foreign Corporation with the SOS. Its costs $300 to file this form.
How do I file the withdrawal paperwork?
Submit the original withdrawal or cancellation form, a Final Franchise Tax Report, and a check for fees by mail or in person. Fees include the filing fee as well as the franchise tax for the current year. Checks should be payable to Arkansas Secretary of State.
Mail:
Arkansas Secretary of State
Business and Commercial Services
State Capitol
Little Rock, AR 72201-1094
In person:
Victory Building
1401 West Capital Ave., Ste. 250
Little Rock, AR 72201
Foreign Arkansas LLC and Corporation Withdrawal FAQ
Do you need an Arkansas Department of Finance and Administration clearance first?
No, you do not need to request tax clearance from the Department of Finance and Administration before you file. But you do need to include a Final Franchise Tax Return with your application for withdrawal or cancellation.
How long does it take the state to process the withdrawal filing?
Arkansas BCS processes withdrawals within two business days.
Walked in documents are processed while you wait.
What agency do you need to file the withdrawal with?
Submit withdrawal documents to:
Arkansas Secretary of State
Business and Commercial Services
Mailing address:
State Capitol
Little Rock, AR 72201-1094
Physical address:
Victory Building
1401 West Capital Ave., Ste. 250
Little Rock, AR 72201
501-682-3409
What happens if you don’t file a withdrawal and just let your annual report filings go unfiled?
All Arkansas foreign LLCs are required to file the annual report and franchise tax by May 1 each year. You are responsible for the tax until you formally withdraw your from Arkansas. If you do not file your annual report and comply with franchise tax requirements by the due date, BCS will impose fines and revoke your authority to do business in Arkansas.
If you just don’t file an annual franchise tax report, how long before you lose your Certificate of Authority?
If a foreign corporation or LLC does not file its annual franchise tax report by May 1st, Arkansas BCS will send them a delinquency notice within 60 days. If the foreign business entity still does not file the report, they will be revoked on December 31st of that year.
What are the late fees and penalties to re-register if your registration is forfeited?
Your foreign business would have to re-qualify in Arkansas. BCS can collect fees, penalties, and interest for the most recent three year period. So if it has been more than three years since you were revoked, BCS can only collect your past due fees for the last three years.
Corporation Certificate of Authority: $310 minimum fee
LLC Application for Registration: $150 fee
How long does the registered agent have to accept service of process after a foreign corp or llc has filed a Certificate of Withdrawal of Registration?
When you file to withdraw your corporation or LLC, you revoke the authority of your registered agent in Arkansas. After a foreign corporation or LLC withdraws, service of process is made on the Secretary of state, not the registered agent.
If you wish to resign as Arkansas registered agent, make the appropriate filing with the Secretary of State’s office.
ARKANSAS BCS FORMS