You may be asked to provide a certificate of existence for your Utah limited liability company (LLC). Banks and creditors often ask for this document before issuing business credit to ensure you comply.
A Utah 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 Utah Certificate of Existence?
In Utah, a certificate of existence, known as a certificate of good standing in most states, verifies that your LLC fully complies with state regulations. The state will issue the certificate if you’ve met all deadlines and filed all relevant reports.
Keep in mind that you’re not required to get a certificate of existence in Utah, 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. This is simply part of their due diligence and risk assessment, confirming that your business has no outstanding regulatory issues.
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 Utah
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 Utah. That means you’ll need to be up to date on all Utah business licenses, permits, and reporting requirements.
Which Department Issues Certificates of Existence in Utah?
In Utah, the Division of Corporations and Commercial Code issues certificates of existence. You can obtain one online.
How to Get a Certificate of Existence in Utah
Visit the Division of Corporation website and search for your business.
Click “details” to view your LLC information, then select “purchase certificate of existence.”
The fee is $12, and assuming your LLC is in full compliance, you should receive your certificate within ten days.
Alternatively, you can download the request form and mail it, along with the fee, to:
Division of Corporations
PO Box 146705
Salt Lake City, Utah 84114-6705
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.