Llc 1050 PDF Details

When a Virginia Limited Liability Company (LLC) decides it's time to close its doors, it follows a critical formal process highlighted by filing the LLC 1050 form, known as the Articles of Cancellation. This paperwork, essential for officially dissolving an LLC in Virginia, outlines several required steps and pieces of information, ensuring the company has properly wrapped up its affairs. Before an LLC can even submit this form, it must settle any outstanding fees, penalties, and ensure all its financial obligations are squared away. The form itself carries a $25.00 filing fee and can be filed online for added convenience, which eschews additional processing fees usually associated with paper filings. In the document, specific points such as the exact name of the company as recorded with the Commission, the company's SCC Identification Number, and the effective date of the organization's original certificate must be detailed. Furthermore, there is a vital section dedicated to the winding-up process, ensuring that the company has paid off its debts and distributed remaining assets among its members. Optionally, LLC members can also include a reason for the company's cancellation. Only authorized individuals, with various possible roles but explicitly excluding some titles, can sign off on this document, sealing the company's intent to dissolve. Moreover, this form highlights the importance of not submitting personal identifying information outside of the necessary details, as filings become public records. All these aspects come together to form a structured path toward officially cancelling an LLC in Virginia, initiating the final chapter of the company's existence within the state's legal and business registry.

QuestionAnswer
Form NameLlc 1050
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesllc 1050 cancellation, llc articles cancellation, va cancellation, articles of cancellation virginia llc

Form Preview Example

ARTICLES OF CANCELLATION OF A VIRGINIA LIMITED LIABILITY COMPANY INSTRUCTIONS

Filing Requirements

Pay all fees and penalties before submitting these articles to the Commission. If these articles are filed with an effective date on or before the annual registration fee due date, payment of the registration fee for the current year is not required.

Required Fees

Filing Fee: $25.00

 

File Online Today

 

Paper Filing

 

 

 

 

 

 

 

Visit https://cis.scc.virginia.gov to file articles of cancellation of a

 

Download from https://scc.virginia.gov/pages/Virginia-Limited-

 

 

Liability-Companies complete, print, and mail or deliver to below

 

Virginia Limited Liability Company in real time.

 

 

 

address:

 

 

 

 

 

 

Questions?

 

State Corporation Commission

Courier Delivery Address

 

 

 

 

Visit the CIS help page at https://scc.virginia.gov/pages/CIS-Help

 

Clerk’s Office

1300 E. Main St, 1st floor

 

 

P.O. Box 1197

Richmond, VA 23219

 

for how-to guides, answers to frequently asked questions, and

 

 

 

Richmond, VA 23218-1197

 

 

helpful videos.

 

 

 

 

 

 

 

 

 

 

 

Pay online with a credit card or eCheck. No additional

 

Include a check payable to State Corporation Commission.

 

processing fees apply for filing online.

 

DO NOT SEND CASH.

 

Specific Instructions

Article I Name

Provide the name of the company exactly as it appears on record with the Commission.

Article II Identification Number

To obtain the company’s SCC ID number, visit https://cis.scc.virginia.gov, or contact the Clerk’s Office.

Article III Effective Date

The certificate of organization’s effective date is the date the

Commission accepted the articles of organization, or the delayed effective time and date stated in the articles of organization.

Article IV Winding Up of Affairs

The company must wind up its affairs before filing these articles. The company must pay and clear, or arrange to pay and clear, all its debts, liabilities, and obligations. Then, it must distribute the remaining property and assets to its members.

Article V Other Information

Members may choose to include the reason for canceling the company.

Signature

One of the following officials with the right and power to manage the company’s business affairs must sign the articles:

•a manager or other selected person

•a member (e.g., an owner is a member), if there is no manager or other person selected

•an organizer, if the entity began without managers or members and no members exist

•a receiver, trustee, or other court-appointed fiduciary, if applicable

Do not use the following titles:

•Owner

•Registered Agent

•Attorney

•Authorized Person

•Officer

If signing on behalf of a manager or member that is a business

entity, also include the business entity’s name and the business entity’s relationship to the LLC.

Include the signature, printed name, position title (e.g., manager or member), and date signed. Providing an entity phone number or email address allows for quicker communication if there is an issue with the filing.

Personal Identification Number (PIN)

File electronically using the entity-specific PIN. For information on resetting the PIN, visit https://cis.scc.virginia.gov or call either telephone number below.

Important Information

The articles must be in the English language, typewritten or legibly printed in black, using the following guidelines:

•

use solid white paper

•

one-sided

• minimum 1.25" top margin and 0.75” all other sides

•

size 8 1/2" x 11"

•

no visible watermarks or background

 

 

 

 

logos

 

Do not include Personally Identifiable Information, such as a Social Security number, in a business entity document submitted to the Office of the Clerk for filing with the Commission. Information in these documents is available to the public. For more information, see Notice Regarding Personally Identifiable Information at www.scc.virginia.gov/clk.

Form LLC1050 (Rev. 07/20)

Form

LLC1050

(Rev. 07/20)

State Corporation

Commission

Articles of Cancellation of a Virginia

Limited Liability Company

Pursuant to § 13.1-1050 of the Code of Virginia, the undersigned, on behalf of the limited liability company named below, states as follows:

Article I

The limited liability company’s name:

 

____________________________________________________________________________________

Article II

The LLC’s SCC ID Number: _____________________________________________________________

Article III

The LLC’s certificate of organization issued by the Commission was effective on: ___________________

Article IV

The LLC has completed the winding up of its affairs.

Article V

Other information the members determine to include (optional):

 

____________________________________________________________________________________

 

____________________________________________________________________________________

 

Signature

The official signing this document has been delegated the right and power to manage the company’s business affairs and affirms the above statements are true.

Signature

 

 

 

Date

 

Tel. # (optional)

 

 

 

 

 

 

 

 

Printed Name

 

 

 

Title

 

Email Address (optional)

 

 

 

 

 

 

 

 

Business Tel. # (optional)

 

 

 

Business Email Address (optional)

 

 

Provide a name and mailing address for sending correspondence regarding the filing of this document (if left blank, correspondence will be sent to the registered agent at the registered office):

Name

Address

Required Fee: $25.00

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