Changes to IL Business Entity Law – Effective July 1, 2018

 

Exciting news from the IL SOS! The long-awaited Entity Omnibus Act (EOA) is finally in effect. This will allow domestications and conversions for all entity types.

The domestications will allow an Illinois entity to transfer its home state to another jurisdiction or a foreign entity to change its domestic state to Illinois.

Domestications will be filed on form EOA 305.

The conversions will allow an entity to change from one business entity to another. The conversions will be filed on EOA 205.

The filing fee will be $100 per form. Expedite will be an additional $200 per form.