Sometimes, business doesn’t unfold as planned, and the decision to wind up a company must be made. If you’re ready to dissolve your business, here are the essential steps:
What Do You Need to Wind Up a Company?
When you initially formed your business, you received a Certificate of Formation. To wind up your company, you will need a Certificate of Dissolution for corporations or a Certificate of Cancellation for LLCs.
Before starting the winding-up process, ensure all franchise taxes are fully paid. Once this is done, the next step involves preparing the Certificate of Dissolution/Cancellation, which should be signed by you or another responsible executive. If you need assistance with preparing these certificates, we are here to help.
Your documents must include a cover memo, outlining the topic and providing details about the company. Once completed, the documents must be submitted to the Delaware Division of Corporations, along with a filing fee. As of the most recent update, this fee is $204, though it may vary annually. Payments can be made online or during the document submission.
Typically, the entire process takes 3-5 business days.
Important Note:
Before winding up your company, make sure to close any corporate bank accounts. We also recommend consulting with legal professionals or business consultants for additional guidance.
For any further assistance, feel free to reach out to us.
Contact Us for Assistance
We offer a range of services to help you manage or wind up your business. Feel free to contact us for further information or questions.
Get in Touch
For pre-sales inquiries or help with winding up your company, call us at +1 302 310 21 76 (WhatsApp available!).
