The name you have chosen for your business is a crucial part of its identity and a requirement for registering a limited liability company in Illinois.
Your LLC name defines your brand and what it stands for so that the government and other business entities can easily identify you.
As a legal expert working with my team to help thousands of companies in the LLC industry, I will take you through the steps needed to change the name of your Illinois LLC.
Quick Summary
- You can change an LLC name in Illinois by filing a name amendment with the Illinois Secretary of State.
- You must register your new LLC name with the Illinois Secretary of State so that other businesses do not use the same name.
- Visit relevant authorities in the state after you have gotten a new LLC name to know if you need to make any changes or provide information for updates in your records.
Four Steps To Change An LLC Name in Illinois
You can change your LLC name in Illinois by following these four steps:
1. Choose A New Illinois LLC Name
First, you need to choose a new Illinois LLC name, which has to be approved by the LLC's owner or the LLC's members.
Remember to abide by the name requirements before you choose a name. For example, the tag LLC must be at the end of the name and shouldn’t be similar to other existing business names.
2. Check If The Name Is Available In Illinois
You can always check with the Illinois Secretary of State to see if your chosen LLC name is available for you to use.
Make sure that the name does not infringe on the trademark rights of other businesses, and remember to protect your LLC's rights if it is going to be used as a trademark too.
3. File A Name Reservation Form
You must file a name reservation form with the Illinois Secretary of State by paying the filing fee of $25.
The form will contain relevant information, such as the name you wish to reserve and your name and address, which you must complete and submit.
You can access the name reservation form by selecting Form LLC-1.15: Application to Reserve a Name via the Illinois Secretary of State LLC forms page.
You can use this same form to transfer or cancel a reservation [1].
4. File An Illinois Amendment Certificate
Filing articles of amendment online will require you to pay a filing fee of $50 to be processed within the time frame of your choice.
Non-expedited service will be reviewed within ten days of submission.
Expedited service submissions will be reviewed for compliance within 24 hours (excluding weekends and holidays) [2].
To file articles of amendment form online, go to the Illinois LLC Amendment page and click "File" at the bottom. You will be directed to enter your Illinois filing number in the search box.
Select "Continue," and complete the form.
What To Do After You Change Your Illinois LLC Name
After you change an LLC name, you will have to do the following:
- Make Changes to Your LLC Operating Agreement: You must modify your LLC operating agreement to incorporate the new name.
- Get in Touch With Your Bank: You must contact your bank to see if you need a new LLC bank account.
- Check Your Business License and Permits: You have to contact the relevant authorities in Illinois to see if you need to update your business license and permits or get new ones with the new LLC name.
- Find Out If You Need to Get a New EIN: You can check out the IRS guide to see if you need to reapply for a new Employer Identification Number (EIN).
- Inform the IRS: You should inform the IRS in Illinois of your new LLC name. You can submit a copy of the Certificate of Amendment and a name-change letter to update your new name in their records.
- Make Changes On All Other Legal Documents: Once your new Illinois business name is in use, change your other Illinois business resources, such as your formation documents, marketing materials, and website. Also, plan a customer-level campaign to inform the media and the public about your new name.
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FAQs
Do I Need to Change My Illinois LLC Name If Someone Else Has It?
Yes, you need to change your Illinois LLC name if someone else has it and has registered it with the Secretary of State.
Do I Have To Notify The IRS Of My New Illinois LLC Name?
Yes, you have to notify the IRS of your new LLC name, providing them with information surrounding your name change so that they can update their records.
Do I Have to Get A New EIN If I Got A New Illinois LLC Name?
No, you do not have to get a new EIN if you have a new Illinois LLC name. However, it would help if you still verified from the IRS guide that you do not need to provide any information.
Do You Need Help Changing Your Illinois LLC Name?
If you run an LLC and you do not have the time to change your Illinois LLC name due to other tasks you have to handle, you need not worry.
The INC file team will help guide you through the process of changing your LLC name in Illinois.
References:
- https://www.ilsos.gov/publications/pdf_publications/llc115.pdf
- https://www.ilsos.gov/departments/business_services/amendments/llc_instructions.html
