Get the free STATEMENT OF DISSOLUTION - CT.gov

SECRETARY OF THE STATE OF CONNECTICUT MAILING ADDRESS: COMMERCIAL RECORDING DIVISION, CONNECTICUT SECRETARY OF THE STATE, P.O. BOX 150470, HARTFORD, CT 06115-0470 DELIVERY ADDRESS: COMMERCIAL RECORDING

How to fill out statement of dissolution

How to fill out a statement of dissolution:

1. Gather the necessary information: Before filling out the statement of dissolution, make sure you have all the required information at hand. This may include details about the company's business, shareholders, assets, debts, and any ongoing legal proceedings.
2. Begin with the heading: At the top of the statement, include the full legal name of the company, its address, and the date on which the statement is being filled out.
3. Provide background information: In a concise paragraph, provide a brief overview of the company's history, its purpose, and any significant events that have led to the decision to dissolve the company. Be sure to mention whether shareholders have approved the dissolution.
4. Outline the dissolution process: Clearly state the steps that will be taken to dissolve the company. This may involve paying off debts, selling assets, distributing remaining funds among shareholders, or any other necessary actions. Include target dates for completing each step, if applicable.
5. Address ongoing obligations: Explain how the company will fulfill any outstanding obligations, such as legal or contractual commitments, before or during the dissolution process. This could include notifying clients, creditors, or employees about the dissolution and outlining the plan for completing existing projects or contracts.
6. Discuss distribution of assets: If applicable, provide details on how the company's assets will be distributed among shareholders. Specify the proportion each shareholder will receive, based on their ownership stake or any other predetermined agreement.
7. Include signatures and contact information: At the end of the statement, leave room for all shareholders or authorized representatives to sign and date the document. Additionally, provide a contact person's name, address, phone number, and email for any inquiries related to the dissolution process.

Who needs a statement of dissolution:

1. Companies undergoing voluntary dissolution: A statement of dissolution is typically required when a company decides to dissolve voluntarily. It serves as an official declaration of the company's intent to wind down its operations and is often a legal requirement in many jurisdictions.
2. Shareholders or partners: Any individual with an ownership stake in the company will need to be aware of and involved in the dissolution process. By having a statement of dissolution, shareholders can understand the steps involved and their rights and responsibilities during the company's winding down period.
3. Regulatory authorities or government agencies: Depending on the jurisdiction, government entities or regulatory authorities may require a statement of dissolution to be filed for legal and administrative purposes. This helps ensure that all necessary procedures and requirements are met before the company is officially dissolved.
4. Creditors, clients, and other stakeholders: Providing a statement of dissolution can help inform creditors, clients, and other stakeholders of the company's decision to wind down its operations. This enables them to take appropriate action, such as settling outstanding debts or terminating contracts, and helps manage the transition smoothly for all parties involved.

In summary, filling out a statement of dissolution involves gathering information, providing background details about the company, outlining the dissolution process and any ongoing obligations, discussing asset distribution, and including signatures and contact information. This document is typically needed by companies undergoing voluntary dissolution, shareholders or partners, regulatory authorities, and various stakeholders involved with the company.

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What is statement of dissolution?

The statement of dissolution is a legal document filed by a business entity to officially terminate its operations.

Who is required to file statement of dissolution?

Business entities such as corporations, LLCs, and partnerships are required to file a statement of dissolution when they decide to cease operations.

How to fill out statement of dissolution?

The statement of dissolution can typically be filled out online or through a paper form provided by the relevant state agency. It will require information about the business entity, its owners, and the reason for dissolution.

What is the purpose of statement of dissolution?

The purpose of the statement of dissolution is to officially end the existence of a business entity, notify creditors and other stakeholders of the dissolution, and wrap up any remaining business affairs.

What information must be reported on statement of dissolution?

The statement of dissolution typically requires information such as the name and address of the business entity, the names of its owners or partners, the reason for dissolution, and any remaining business assets or liabilities.