Withdraw a Foreign Business in Wisconsin
In this guide to withdrawing a foreign LLC or corporation in Wisconsin, 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 Withdraw a Foreign LLC or Corporation in Wisconsin
To withdraw your foreign LLC or corporation in Wisconsin, you’ll need to file official state paperwork with Wisconsin’s Department of Financial Institutions: Division of Corporate and Consumer Services (DFI). Our guide shows you how to do it.
What is a foreign Wisconsin business?
When companies expand their business to another state, they’re called “foreign businesses.” To operate legally, they need to register with that 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 do I withdraw my foreign LLC in Wisconsin?
To withdraw your foreign Wisconsin LLC, file a Withdrawal of Registration of Foreign Limited Liability Company form with Wisconsin’s Department of Financial Services.
How do I withdraw my foreign corporation in Wisconsin?
To withdraw your foreign Wisconsin corporation, file an Application for Certificate of Withdrawal and Final Report Foreign Business Corporation with Wisconsin’s Department of Financial Services.
How do I file a withdrawal application in Wisconsin?
Wisconsin allows you to file by mail. If you choose to expedite your filing, you can file by mail or hand deliver the withdrawal application.
Mail:
Wisconsin Department of Financial Institutions
Division of Corporate and Consumer Services
P.O. Box 93348
Milwaukee, WI 53293-0348
Express delivery address:
Wisconsin Department of Financial Institutions
Division of Corporate and Consumer Services
4822 Madison Yards Way
4th Fl., North Tower
Madison WI, 53705
How much does it cost to withdraw a foreign business in Wisconsin?
Both LLCs and corporations pay $40 to file. Add $25 if you choose to have your filing expedited.
How long will it take Wisconsin to process my withdrawal filing?
Mailed filings can take 5 business days to process once received, or one day with expedited service.
Foreign Wisconsin LLC or Corporation Withdrawal FAQs
How will Wisconsin return my filed documents to me?
Wisconsin will mail a file stamped copy to the address provided on your application.
Can I withdraw my business by not filing the Wisconsin Annual Report?
Wisconsin requires that each foreign corporation and LLC file a Wisconsin Annual Report with the DFI. If a foreign corporation or LLC is no longer doing business in Wisconsin, it should withdraw. If a business does not file the annual report, the DFI will eventually revoke the certificate of authority to do business in Wisconsin.
Can a foreign business lose its ability to operate for not filing an annual report?
If the annual report is past due by 60 days, Wisconsin may issue a revocation of a foreign LLC or corporations ability to operate in the state.
If a registration is forfeited, are there late fees or penalties to re-register the business?
Foreign corporations registered in Wisconsin can only reinstate within the six months following revocation. They have to file a current annual report, any late report fees, and an application for a certificate of reinstatement. The filing fee for the certificate is $100. The filing fee for corporate annual reports is $40. After six months, you could form a new corporation by filing for new registration (a $100 base filing fee). But remember that there is no name protection after revocation so someone may take your corporate name if you wait.
Foreign LLCs have no window for reinstatement. Foreign LLCs that were revoked must apply for a new certificate of registration if they want to re-qualify to do business in Wisconsin. Filing for new registration of a foreign LLC costs $100.
Learn how to reinstate a Wisconsin LLC or Wisconsin corporation.
How long must a registered agent accept service of process after a withdrawal?
Once the corporation or LLC files for withdrawal, a Wisconsin registered agent is no longer required to accept service of process on their behalf. By filing for withdrawal, a business revokes the authority of its registered agent in Wisconsin. When a business withdraws from Wisconsin, it is required to provide a mailing address for future service of process.
Administrative revocation of a foreign business’s certificate of authority or registration does not automatically terminate the authority of the business’s registered agent in Wisconsin.
Learn more about the Wisconsin registered agent resignation process.
What is the difference between withdrawing and dissolving a business?
Foreign entities withdraw their business from a foreign jurisdiction. Domestic entities dissolve their business in their home state.
For example, an LLC that originated in Wisconsin is domestic to Wisconsin. If it stopped operating in the state, it would need to dissolve the business. If it operated as a foreign business in another state, it would need to withdrawal from that state if it wanted to close up shop.
Learn how to dissolve a Wisconsin LLC or a Wisconsin corporation.
What if I want to start a foreign LLC or corporation in Wisconsin?
You’re in luck! Head over to our comprehensive guides on how to form a foreign Wisconsin LLC or start a foreign Wisconsin corporation. Or hire us to do it for you!