Getting a Wisconsin certificate of good standing is a regular part of doing business. But there are three ways to request one — by phone, fax, and email.
The state Division of Corporation does not accept requests via social media such as Facebook or Twitter. Requests must come either by phone, fax, mail, or email.
A person requesting a printout must provide his or her name, address, telephone number, and registered business type. A fee of $5 applies to each request.
How to Obtain a Status Certificate
The United States Citizenship and Immigration Services has announced changes to how people become naturalized citizens. The agency says anyone applying for citizenship must prove they’ve continuously lived in the US since January 2009. They also say applicants must provide evidence proving they don’t threaten national security. If you want to apply for citizenship, here’s what you’ll need to do.
How to Make an Electronic Copy Request
You’ll need to complete a form online to obtain an electronic copy. You must provide the following information:
• Your full legal name
• A physical address where you can receive mail
• An email address where you can be reached
• Your social security number
• Your driver’s license number
• The account holder’s name
• The type of certificate(s) you want
• If you are requesting multiple certificates, list each one individually
You’ll also need to upload a photo ID showing proof of identity. For example, a passport or government-issued identification card.
Once you’ve submitted the request, the department will review your application and send you a confirmation email within 24 hours.
If you don’t hear anything within 48 hours, contact the DFI Customer Service Center at 877-824-4357.
How To Request a Printed Copy
You can do it yourself if you want a printed copy of your certificate. All you need are some basic tools and a printer. First, log into MyCSR Portal and select Print Certificate. From there, you can fill out the form and submit it. Once you receive the PDF, you can print it off and keep it safe. If you don’t feel like doing it yourself, you can send a request to your CSR manager. They’ll take care of everything.
“Good Standing” Opinions Issued
A good standing opinion is a document issued by a council stating whether a person or entity is qualified to do business within a particular jurisdiction. In most cases, a good standing opinion is issued after an application has been submitted to the department of financial institutions (DFI). However, some states issue good standing opinions without receiving applications.
The DFI does not issue certificates of good standing but rather certificates of status. Certificates of status are similar to good standing opinions. Lenders use them to determine whether a borrower is eligible to receive loans.
The DFI issues status certificates after receiving information about a loan application. If the lender wants to verify the borrower’s eligibility to obtain financing, he or she must request a status certificate.
Most states require certificates of the good standing to be renewed annually. Some states will issue good standing opinions if there is an active dispute between parties or if the applicant is facing bankruptcy.
Why might a business need a Wisconsin Certificate of Status?
A Wisconsin COS is an essential document you’ll need to start your own business. This legal form helps you establish a corporation, LLC, limited liability company, partnership, sole proprietorship, nonprofit organization, or another type of entity. You’ll use it to file paperwork with the state, pay taxes, open bank accounts, and much more.
Obtaining a Business License in Another State
Registering to do business in another state is called “registration.” This is usually done by filing a status certificate with the Secretary of State’s Office. You’ll need to register if you are doing business with out-of-state companies. You’ll also need to file a form known as a “Certificate of Foreign Corporation,” which is required in every state except Wyoming.
A COS gives your company credibility and legitimacy. This helps investors feel comfortable about investing in you. Without a COS, it could be difficult to secure funding. If you don’t have one, we recommend getting one now. You can use our template here.
Investors will want to know if your company has a COS before investing in you. They are looking for evidence that you have been operating legally and ethically.
If you don’t already have a COS, we suggest getting one now. We offer a free consultation to help you understand what a COS is and how it works.
We can help you build a COS that protects you against fraud.
Opening a Business Bank Account
How do I open a business bank account? Do I need a business checking account? What about a business savings account? Is there anything else I need to know?
There are many services available through our One Stop Business Portal. Registering your business online saves you money and time. We provide free information, including how to apply for a bank loan, what documents you need, and much more.
If you already have a business checking account, it might make sense to continue using it. We’ll help you set up a checking account if you don’t have one.
You can use your personal credit card to pay bills, but you must keep track of your spending. You can use your debit card if you want to avoid paying interest.
We recommend opening a business savings account. This way, you won’t lose access to your funds if your business closes unexpectedly.
Buying Business Insurance
A COS is an important documentation for insurance companies. It helps them know whether the applicant is a legal person or not. It will also check if the applicants meet all the criteria set by states.
Forming Contracts with State/Other Businesses
Certificates of Status prove that you are an official organization. These documents certify that you meet certain requirements set forth by state or local government agencies. They are used to make sure that companies comply with regulations and laws.
There are many different types of certificates of status available, including:
• Licenses – This type of document certifies that you hold a specific license to do something. For example, a liquor license allows you to sell alcohol.
• Permits – This type of document permits you to do something. For instance, a building permit lets you build a house.
• Certification – This type of document verifies that you meet certain standards or qualifications. For example, a certification might verify that you completed training courses.
• Registration – This type of document identifies you as a member of a group. For example, registration with the American Red Cross certifies that you belong to the organization.
• Approvals – This type of document indicates that someone else approved of your work or product. For example, a food inspector gave his approval to the quality of your meat products.
Selling/Transferring the Business in Whole or in Part
A COS is an important legal document that shows how much money sellers are willing to pay for their businesses. If you sell or transfer part or all of your business, you’ll want to ensure that you comply with the law.
The IRS requires that sellers file a COS every time they sell or transfer ownership of a business. This applies whether the transaction involves buying or selling a business. In addition, some states require sellers to file a COS even if they don’t intend to sell or transfer the business.
If you plan to sell or transfer part or most of your business, it’s best to consult with a lawyer about what documents you need to prepare and submit. You might also want to talk to your accountant about filing a COS.
Renewing Certain Permits and Licenses
Certificate of Status – An official document that confirms the presence of a company or organization within Wisconsin – is used to renew some types of permits and licenses. They can help streamline the process by helping you avoid delays and confusion.
Frequently Asked Questions
What is certification of existence?
Certification of Existence (COEs) is a method of certifying the existence of something. COEs are often used to certify the existence of a person, place, thing, or event. A COE may be issued by a government agency, non-profit organization, company, or individual.
Do I need an EIN for my LLC?
If you have started a business as an individual (sole proprietorship), then you do not need an Employer Identification Number (EIN). If you have incorporated your company (a corporation) or formed a limited liability company (LLC), then you will need an EIN. An EIN is issued by the IRS and is necessary if you want to deduct any expenses related to your business. You can apply online at www.irs.gov/businesses/small-businesses-self-employed/apply-ein.
James Rourke is a business and legal writer. He has written extensively on subjects such as contract law, company law, and intellectual property. His work has been featured in publications such as The Times, The Guardian, and Forbes. When he’s not writing, James enjoys spending time with his family and playing golf.