Utah Statement of Termination
Understanding this form
The Statement of Termination is a legal document used to dissolve a limited partnership (LP) or a limited liability limited partnership (LLLP). Unlike similar forms, which may require ongoing reporting or operation details, this form specifically indicates that the partnership has completed its business activities and is officially terminating its existence. Using this statement properly ensures that the entity is legally recognized as dissolved and releases partners from future obligations.
Main sections of this form
- Entity name and number: Identifies the partnership being dissolved.
- Termination effective date: Specifies when the termination takes effect, either immediately upon filing or on a future date.
- Signature lines: Requires the signatures of all general partners or designated individuals to validate the termination.
- Declaration: A statement certifying the accuracy of the form under penalties of perjury.
When to use this form
This form should be used when the partners of a limited partnership or limited liability limited partnership decide to close their business formally. Typical scenarios include completion of business goals, agreement among partners to dissolve the entity, or expiration of a defined partnership term. By filing this document, partners can ensure that their business is legally dissolved and that they are no longer accountable for any future liabilities.
Who should use this form
- General partners of a limited partnership or limited liability limited partnership.
- Individuals responsible for winding up the activities of a dissolved partnership.
- Legal representatives handling the closure of the business entity.
How to complete this form
- Identify the partnership: Enter the name and entity number of the LP or LLLP.
- Select the termination date: Choose whether the termination will be effective immediately upon filing or on a specific future date.
- Gather signatures: Ensure that all general partners sign where indicated or that the appropriate person designated to wind up has signed.
- Complete the declaration: Fill out the declaration indicating that the information provided is true to the best of your knowledge.
- Prepare for filing: Include any necessary copies and postage if you wish to receive a filed copy.
Does this form need to be notarized?
This form does not typically require notarization unless specified by local law. It is important to check specific state regulations to ensure compliance.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to enter the correct entity number or name, which can delay processing.
- Not signing the form or obtaining signatures from all required parties.
- Providing an outdated termination date or failing to specify if the termination is effective immediately or at a later date.
- Neglecting to include additional copies for return if a filed copy is requested.
Why complete this form online
- Convenience of downloading the form anytime without needing to visit a legal office.
- Editability allows partners to complete the form accurately and avoid mistakes.
- Reliability in using professionally drafted templates ensures compliance with state regulations.
Legal use & context
- Filing this form with the state creates a public record of the partnership's dissolution.
- Completing the form correctly is essential to avoid future liabilities associated with the partnership.
- This document protects the interests of the partners by formally indicating the end of business operations.
What to keep in mind
- The Statement of Termination is essential for legally dissolving a limited partnership or limited liability limited partnership.
- Accurate completion and filing of this form protect partners from future liabilities.
- Understanding the specific requirements of your state is crucial for valid termination.
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FAQ
Submit a UT Registration Information Change form When you remove a member from a Utah LLC, you must submit an LLC Registration Information Change form ($13) with the Utah Division of Corporations. You can file this form online, by mail, or by fax. By Fax: (801) 530-6438.
Utah DBAs expire every three years and require renewal. You can renew your Utah DBA online. The processing fee to renew your assumed name is $27.
File articles of dissolution with the Secretary of State. You can submit this document by mail to Utah Division of Corporations and Commercial Code. There is no filing fee required for filing articles of dissolution. The state agency usually takes five to seven business days to process the articles of dissolution.
You can cancel/dissolve a DBA by completing the Letter of Cancellation . How do I obtain copies/certificates of a DBA? You can obtain copies/certificates of a DBA by doing a Business Registration Search , then finding the entity you are looking for, then you click on the details of that entity.
In Utah you're required to submit a statement of dissolution form to the Division of Corporations and Commercial Code, which can be found online. There is a mandatory fee for regular processing, and additional fees for optional expedited processing. Regular processing takes about five to seven business days.
To cancel a Business Name Registration (DBA) a letter of cancellation must be presented to the division. The cancellation letter should include the following information: 1) Statement requesting the Division to cancel the Business Name Registration (DBA). 2) Address of the business.
This is often called filing for a DBA, or doing business as. For example, if ?ABC Company LLC? wants to do business as ?ABC Furniture Rental? then the owners have to file a DBA. Utah requires a business to file for a DBA designation if it seeks to do business under a name other than its formal "legal" name.
You can register as many DBAs as you want. But remember that each requires a separate registration and filing fee, a separate brand identity (name, logo design, etc.), and periodic renewal registrations.
