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Get the Form LLC-5.5(S) FTP Directory Listing. Description. Print Form Illinois Limited Liability Company Act LLC5.5(S) April 2007 Articles of Organization .

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How to fill out the LLC-5.5 online

The LLC-5.5 is a crucial document for establishing a limited liability company in Illinois. Filling out this form correctly ensures compliance with state regulations and sets the foundation for your business.

Follow the steps to complete the LLC-5.5 online successfully.

  1. Click ‘Get Form’ button to obtain the LLC-5.5 form and open it in the editor.
  2. In the 'Limited Liability Company Name' section, enter the name of your business. Ensure that it includes the required terms like 'Limited Liability Company,' 'L.L.C.,' or 'LLC.' The name cannot contain terms such as 'Corporation,' 'Corp.,' or 'Inc.'.
  3. Provide the 'Address of Principal Place of Business' where your company records will be maintained. Remember that a P.O. Box alone or c/o is not acceptable.
  4. Indicate the effective date of the Articles of Organization by checking the appropriate box for either the filing date or a later date (not to exceed 60 days after the filing date). If selecting a later date, fill in the specific month, day, and year.
  5. Fill in the 'Registered Agent's Name' and 'Registered Office Address.' Make sure to include the first name, middle initial, last name, number, and street address of the registered office, avoiding just a P.O. Box.
  6. State the general purpose for which the limited liability company is organized. If more space is needed, you may attach additional sheets.
  7. If applicable, enter the latest date upon which the company is to dissolve. Leave this space blank if the duration is intended to be perpetual.
  8. In the optional section for 'Other provisions for the regulation of the internal affairs of the Company,' you may include any additional clauses.
  9. Select either option a or b regarding the management structure of the company, indicating whether it is managed by managers or vested in members. List the names and addresses as required.
  10. Finally, provide the 'Name and Address of Organizer(s).' Sign the form in black ink, affirming the correctness of the information provided. Include the date of signing.
  11. After completing all fields, save your changes, and choose to download, print, or share the completed LLC-5.5 form as needed.

Complete your LLC-5.5 form online to ensure smooth processing and compliance.

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Creating your LLC in California requires two separate filings: Articles of Incorporation, and a Statement of Information. Your Articles of Incorporation form your business in California and the Statement of Information is a periodic filing first required within 90 days of formation.

Illinois recently enhanced their online filing portal to include the Illinois LLC 5.5 form (Articles of Organization). The service provides for Routine filing (typically a 10 day turn-around) or expedited filing (24 - 48 hour turn-around). Either service type can be secured online with a credit card.

Illinois is one of only a few states that permits the organization of a type of limited liability company commonly referred to as a "Series LLC." Such a company has the ability to create within itself separate "series" or "cells" that have their own inter- ests, liabilities and members.

Another potential disadvantage of the series LLCs is that tax treatment and reporting requirements vary depending on the state. Sometimes, the rules aren't crystal clear. States might treat each series as a separate tax entity or have the master LLC and all series treated as a single entity.

A Series LLC gives you all the same benefits as a regular LLC, but it serves as a sort of "umbrella company" with additional flexibility and protections for multiple companies or lines of business within your overall operation.

A Series LLC consists of the “parent” or “umbrella” LLC with one or more series that are established under the parent. Each series has characteristics that are separate from the Series LLC itself and every other series. Each series can have its own assets, members, managers, purpose, and investment objectives.

LLCs and Ltds are governed under state law, but the primary difference is Ltds pay taxes while LLCs do not. The abbreviation “Ltd” means limited and is most commonly seen within the European Union and affords owners the same protections as an LLC.

A Series LLC must first file Articles of Organization with the Illinois Secretary of State (Form LLC-5.5(S)) just as a standard LLC does. The only difference is the filing fee ($400 instead of $150) and an additional provision that must be added to the Series Articles of Organization.

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