Illinois Aged Corporationsaka Reddi Corps/Reddi LLCs/Aged Corps/Ready Corps/Ready LLCs/Shelf Corps/Shelf LLCs/Shell Corps/Shell LLCs
What Are Illinois Aged Corporations?
Illinois aged corporations are corporations that has already been filed, recorded and in good standing with the Illinois Secretary of State. Generally, these corporations are anonymous meaning there are no shareholders, directors or officers. It has never conducted business. It has no assets and no liabilities. It remains inactive, on the shelf, until purchased.
What Are The Benefits of an Aged Corporation?
- It is ready to begin business today.
- You will have a corporation with an aged incorporation date.
- It may be easier to obtain credit and loans. Many lenders require that a company be between 6 months and 2 years old in order to obtain a loan.
- You can show corporate longevity.
- You will have an established history giving clients more confidence in your company.
Can I Change The Name?
Yes, you can change the name. You can order the name change at the time you purchase the Aged corporation. The name change should be expedited so that all of your paperwork will reflect the name of your choice. The price for an expedited name change is $300 and, if accepted, will be effective within 24 hours of receiving all signed paperwork.
How Soon Can I Have It?
The Aged corporation can usually be shipped out within 24 business hours (an Aged Corp with a name change will take longer). The turn around time really depends on when the Client can return ALL signed paperwork to the Firm (fax or email is sufficient for signatures). For no additional fee the articles of incorporation and the EIN can be faxed or mailed to you on the day your order is completed so you can open a bank account.
Can I Get Proof That Is In Good Standing?
Yes, the Illinois Secretary of State website shows that the aged corporation is in good standing. AMC Legal also provides a disclosure statement, signed by the client and AMC Legal, disclosing information regarding the business including: inactivity, tax status and good standing.
What Has Been Done with the Aged Corporation Since it was Incorporated?
The corporation was recorded with the county after it was incorporated, as required by law. Once an aged corporation is 1 year old it will have an EIN and the annual report will have been filed. All required tax returns will be filed at the appropriate times. Copies of all tax returns will be provided with the Aged Corporation.
Does the Aged Corporation have a Credit Score or DNB number?
No, these corporations were incorporated and put on the shelf, hence, the name shelf corporation. Therefore, there is no established credit history. The only time the corporation was touched after incorporation would be to file any required annual reports or tax returns.
What Else Will I Need?
Though this corporation was incorporated some time ago, you will still need to customize it to fit your needs. If it doesn’t have an EIN yet, you will need one. Other recommended services are a Sub S election, an Amended Annual Report to reflect your information on the Secretary of State website, an Indemnification Agreement and the Corporate Counsel Service. Depending on your situation, you may also need a Shareholder’s Agreement, Business Registration, Unemployment Report, New Hire Forms, and a Name Change or DBA. See the services page for descriptions of these items.
Also, if the annual report has already been filed for that year, you may want to file an amended annual report to reflect the current President and Secretary names on the Illinois Secretary of State website, some banks, not all, prefer this for opening a new bank account. The fee for that filing is $150. You may also want to change the registered agent. AMC Lega’s registered agent service is included in the sale price until the filing of the next annual report. The fee for that filing is $100.
What about other companies that sell aged corporations?
Please be wary of some services offering aged corporations. Only an Illinois attorney can advise you or your legal needs for incorporating a business and only an Illinois attorney can legally file incorporation papers on your behalf.
Some services only file the corporation and do not follow through with the other necessary paperwork such as county recording, annual reports and tax returns. This can leave you with a paperwork and tax nightmare after you purchased an aged corporation.
In Illinois, the county recording is required within 15 days after receiving the approved articles of incorporation. (No longer required for corporations created after 1/1/11). If you are looking at other services, ask about these items and ask for proof of filing.
AMC Legal will provide copies of all documentation that is required to prove that your corporation is in good standing with the county, state and the IRS.
Be wary of individuals or non lawyer services selling aged corporations. If the corporation has engaged in any transactions other than the ones described above, they may have incurred liabilities that you may not know about for years. Only buy from a reputable company, preferably a law firm in the business of selling aged corporations.
What about buying an aged corporation from another state for doing business in Illinois?
If you purchase an aged corporation from another state, you cannot move the company into Illinois. It will forever remain a foreign corporation. Illinois only allows you to qualify a foreign corporation for doing business in Illinois. Once qualified, you will need to do annual reports in both states, your home state and Illinois. You will also need a registered agent in both states. Also, if you are ever sued, you may be required to travel to that state to defend the lawsuit.
What do I get if I purchase an aged corporation from AMC Legal?
With each aged corporation you will receive: original articles of incorporation, county registration (if incorporated prior to 1/1/11), state approval letter, minutes, bylaws, specimen stock certificate, issued stock certificates, gold foil seals, corporate binder, separation tabs for paperwork, stock transfer ledger, specimen stock transfer ledger, registered agent service until corporate anniversary, disclosure agreement, stock transfer agreement and a detailed invoice to use for business expense records all customized to your corporation. If available you will also receive: copies of annual reports, copies of tax filings and EIN.
Notice: If you are purchasing an aged corporation to obtain a loan, please contact your loan provider(s) to discuss what is required. AMC Legal will NOT issue a refund for an aged corporation based upon inability to obtain a loan.
List of Available Aged Corporations
|Inc. Date||Inc Name||State of Inc.||County Recorded||Annual Report||EIN||Tax Return||Price|
|8/3/16||Lake Shore Services Inc.||Illinois||N/A||Filed 2018||Yes||Filed 2017||$2900|
|4/24/14||Cuddle Cub Inc||Illinois||N/A||Filed 2018||Yes||Filed 2017||$3600|
|4/24/14||Giddy Gumballs Inc||Illinois||N/A||Filed 2018||Yes||Filed 2017||$3600|
|8/02/13||Feathered Cap Concepts Inc||Illinois||N/A||Filed 2018||Yes||Filed 2017||$4200|
|7/02/13||Heads Up Production Inc.||Illinois||N/A||Filed 2018||Yes||Filed 2017||$4200|
|7/02/13||Let 'Er Rip Inc.||Illinois||N/A||Filed 2018||Yes||Filed 2017||$4200|
|8/15/12||Foremost Resources Inc.||Illinois||N/A||Filed 2018||Yes||Filed 2017||$4600|
|8/3/16||Windy City Resources Inc.||Illinois||N/A||N/A||Yes||N/A||SOLD|
|4/24/14||Groovy Goat Inc||Illinois||N/A||N/A||Yes||N/A||SOLD|
|8/3/16||Central Connections Inc.||Illinois||N/A||N/A||Yes||N/A||SOLD|
|8/02/13||Above Board Services Inc||Illinois||N/A||N/A||Yes||N/A||SOLD|
|8/02/13||One Fell Swoop Inc||Illinois||N/A||N/A||Yes||N/A||SOLD|
|7/02/13||Breakthrough Concepts Inc.||Illinois||N/A||N/A||Yes||N/A||SOLD|
|8/15/12||Midwest Initiative Inc.||Illinois||N/A||N/A||Yes||N/A||SOLD|
|4/26/12||Second City Solutions Inc||Illinois||N/A||N/A||Yes||N/A||SOLD|
|4/26/12||Windy City Concepts Inc||Illinois||N/A||N/A||Yes||N/A||SOLD|
|3/01/11||Castlewood Concepts Inc.||Illinois||N/A||N/A||Yes||N/A||SOLD|
|8/19/09||First Rate Company||Illinois||Yes||N/A||Yes||N/A||SOLD|
|2/26/08||VIP Group Inc||Illinois||Yes||N/A||Yes||N/A||SOLD|
|2/26/08||Professional Concepts Inc||Illinois||Yes||N/A||Yes||N/A||SOLD|