You may be asked to provide a certificate of existence for your Kentucky limited liability company (LLC). In addition, many creditors ask for a certificate of existence before issuing business credit.
A Kentucky certificate of existence is relatively easy to obtain, but it does take some know-how. Lucky for you, this handy guide walks you through the process.
What Is a Kentucky Certificate of Existence?
A certificate of existence, known as a certificate of good standing in most states, is issued by the state of Kentucky and verifies that your LLC complies with all state regulations. The state will issue the certificate if you’ve met all deadlines, such as annual report filings.
Keep in mind that you’re not required to get a certificate of existence in Kentucky, but banks and creditors might request one, so it’s wise to have it on hand.
In What Situations Would I Need a Certificate of Existence?
Again, a bank or creditor might request a certificate of existence when you apply for a business loan or business credit. But, again, it’s nothing to worry about; just part of their due diligence and risk assessment to verify that you’re registered to do business in the state and fully compliant.
In addition, if you expand your business to other states, you’ll have to register as a foreign LLC. In such cases, the new state may request a certificate of existence from your home state.
Requirements to Obtain a Certificate of Existence in Kentucky
You must have a registered business entity in the state, either an LLC or a corporation. Sole proprietorships and partnerships do not register with the state, so they cannot obtain a certificate of existence.
You’ll also need to comply with all legal requirements for your LLC or corporation in Kentucky. That means you’ll need to be up to date on all Kentucky business licenses, permits, and reporting requirements.
Which Department Issues Certificates of Existence in Kentucky?
In Kentucky, the Secretary of State issues certificates of existence. You can obtain one online.
How to Get a Certificate of Existence in Kentucky
Visit the Secretary of State’s website and search for your business.
Click on your business and select “certificates.” Then fill in the requested information and submit payment.
The fee is $10, and assuming your LLC complies; you should be able to access your certificate online immediately.
Alternatively, you can download the request form and mail it to the following:
Division of Business Filings
P.O. Box 718
Frankfort, KY 40602
Getting a certificate of existence may seem like a hassle, but you won’t think that when you need financing. So be sure to get it done when you have a chance – you, and your LLC, will be happy you did.