Saturday, March 13, 2010

HOA's Don't Lose Your Corporate Status



All California homeowner associations must file the Nonprofit Corporation Statement of Information (SI-100) and the Statement of Common Interest Development (SI-CID) with the Secretary of State every two years.  If you choose not to file these every two years your corporate status will likely be suspended.  Do not confuse the need to file these with filing your taxes.  It is not necessarily going to happen at the same time.
The fee to file these forms is not substantial and run at $20 for the SI-100 and $15 for the SI-CID. The due date is tied to the association’s incorporation month, not its fiscal year.  So be sure to place a reminder in your personal calendar to remind you to file these forms every other year.  If you are using Outlook, simply schedule the reminder once as a recurring Task and you computer will remind you when the forms are to be filed.  These forms are often overlooked but it is an important detail.  The State will send out these forms but if the mailing address for the association has changed the forms may not get to you.
You may access fill-in forms directly through the links below.
Both forms are available through the Secretary of State website at www.ss.ca.gov.
Boards should follow these steps to avoid the suspension of your corporation.
  1. Know the incorporation date of your association.
  2. Determine when the forms were last filed.
  3. Schedule a reminder for the next due date.
  4. Advise any new manager/management company of the due date. 
  5. Ask for a copy of the completed forms that were filed

3 comments:

  1. We just bought a condo last August and I was recently voted in as the new Treasurer of our small HOA (4 units) in Orange County. I recently discovered that our SI-100 and SI-CID are delinquent by about ten months. I immediately completed both forms and mailed them to the Secretary of State's office along with our HOA's check for $35. When the check wasn't cashed, I called the SOS office and was told that they are FOUR MONTHS behind in opening/processing SI-100s and SI-CIDs. According to the SOS office, SI-100s can be filed online but SI-CIDs may be filed via snail mail only. And since HOAs must file both forms together, I had no option but to mail them. The SOS website shows our corporation is still "ACTIVE", so fortunately it was not been suspended as of yet. Since our forms and check are just sitting at the SOS office waiting to be opened and processed, I realize that we run the risk of being suspended before the envelope is even opened. Should we be proactively doing anything during these next few months to ensure our corporation is not suspended before the envelope is opened and the forms are processed/the check is cashed? Any thoughts or suggestions how we should proceed? Thank you so much for your thoughts and insight.

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  2. Hoa take some valuable decisions which are very important thing to get status because company can loss their status by taking wrong decisions.

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  3. I am always searching online for articles that can help me. There is obviously a lot to know about this. I think you made some good points in Features also. Keep working, great job ! Waterproofing membrane

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