Definition: Form 132 Oregon is a vital financial document utilized by businesses operating in the state of Oregon for reporting purposes. This form, which is officially known as the Annual Report for Domestic and Foreign Corporations, is mandated by the Oregon Secretary of State to ensure compliance with state regulations and to maintain accurate records of corporate entities within the jurisdiction. It provides valuable information regarding the business operations, financial status, and ownership structure of the companies subject to this requirement.
Overview:
Form 132 Oregon serves as an annual reporting requirement for both domestic and foreign corporations operating within the state. Compliance with this form is essential to maintain active status, mitigate potential penalties, and ensure transparency in the business environment. While the process may seem daunting, understanding the intricacies of this document is crucial for a seamless reporting experience.
Filing Requirements:
To meet the filing requirements for Form 132 Oregon, corporations must submit the form by the designated deadline, typically on or before the anniversary month of their original incorporation or qualification. Failure to file the form or submit it after the due date can result in penalties, including late fees and the potential suspension of business operations.
Key Information Sections:
Form 132 Oregon includes several essential sections that businesses need to complete accurately:
- Identification: This section captures vital details, such as the company’s legal name, assumed business name (if applicable), and registered office address.
- Principal Office Address: Companies must provide the physical street address of their principal office location, including city, state, and ZIP code.
- Mailing Address: This section requires corporations to specify the address where they prefer to receive official correspondence from the Secretary of State. This address may be different from the principal office address.
- Registered Agent: The registered agent acts as the official contact point for the corporation and receives service of process and important legal documents on its behalf. This section must include the registered agent’s name, address, and contact details.
- Officers and Directors: Businesses must provide the names and addresses of all officers and directors associated with their operations.
- Shares and Stockholders: This section requires companies to disclose the total number of authorized shares and any amendments made to the initial offering. Additionally, they must list the names and addresses of all stockholders with significant ownership.
Filing Fees:
Form 132 Oregon incurs a filing fee to cover administrative costs associated with processing the annual report. The fee structure varies depending on the corporation’s authorized shares; the greater the number of shares, the higher the fee. It is essential to review the fee schedule provided by the Oregon Secretary of State’s website to accurately determine the cost associated with submitting the form.
Final Thoughts:
Completing and filing Form 132 Oregon is a crucial step for corporations operating in Oregon. Accuracy and timeliness are paramount, as errors or late submissions may result in penalties or the potential suspension of business activities. Seeking assistance from a qualified legal or financial professional can streamline the process and ensure compliance with state regulations, allowing businesses to focus on their core operations and maintain good standing within the state.