Fill Out Your 5 359 Texas Form

1. What is the purpose of the 5 359 Texas form?

The 5 359 Texas form, known as the Request for Certificate of Account Status, is used by entities that wish to terminate their legal existence or registration in Texas. This form ensures that all tax obligations are met and that there are no outstanding accounts before the entity is officially dissolved or removed from registration records.

2. Who should fill out this form?

This form is intended for individuals and organizations, including corporations and limited liability companies, that have completed all necessary tax filings and are looking to formally end their status in Texas. It's crucial that all affiliated businesses are accounted for if the entity is part of a larger group.

3. What information is required in Section A?

Section A requires basic information about the entity, such as its legal name, taxpayer number, and file number from the Texas Secretary of State. It also includes questions about whether the entity is part of a combined group for franchise tax reporting, which helps determine the correct tax reporting method.

4. What if the entity has not conducted business in Texas recently?

If the entity was formed outside Texas and has not conducted business there in some time, the form asks for the last day of business and whether the entity still has an active charter in its home state. This information is essential for processing the termination appropriately.

5. How does a forfeited certificate affect the termination process?

If the entity has a forfeited certificate or registration, this must be reinstated before ending the existence in Texas. The form provides options for how to receive the certificate once it has been issued, including by fax, email, or standard mail.

6. What documentation is required if the home state charter has been terminated?

In cases where the entity's home state charter has been terminated, it is necessary to include documentation from the home state. This documentation must have the official seal from the appropriate filing agency and indicate the effective date of filing. This requirement helps verify the entity's status in its home state.

7. How can I submit this form or get assistance?

The 5 359 form can be submitted by mailing it to the Comptroller of Public Accounts at the provided address. For online submissions or assistance, individuals can use the SOSDirect website for Texas Secretary of State filings. Local field offices are also available for help and can be located online.

8. How long does it take to receive the certificate after submission?

Requests for the certificate are processed in the order they are received. The time frame for receiving the certificate may vary based on demand and the specific details of the request. If the entity is not eligible for termination, a written notification outlining the necessary steps will be sent.

9. Where can I find additional information about the process?

Additional information about terminating an entity's existence or registration can be found on the Texas Comptroller's website. This site provides guidance on tax responsibilities and additional resources to help in the process, ensuring that all requirements are met before filing the termination request.

Filling out the 5 359 Texas form can be a straightforward process, but many people make mistakes that can delay their requests. One common error is not providing the entity's legal name or the correct taxpayer number. These details must match official records precisely. Double-checking this information is crucial to prevent processing delays.

Another frequent mistake is related to Section A's questions about affiliated groups. Individuals often overlook the requirement to answer whether the entity is a member of such a group. If the answer is YES, additional reporting details are necessary. Failing to provide the name and taxpayer number of the reporting entity can lead to confusion and a request for further information.

The accounting year start date is another area where errors occur. Many filers do not confirm whether the entity’s accounting year begin date is on or after the combined group’s year begin date. This detail is essential because it dictates whether the entity must be included in the combined group report. Misunderstanding this requirement can lead to incorrect submissions.

For non-Texas entities, the section asking if the entity is still conducting business in Texas often invites errors. Filers sometimes mistakenly answer YES when they should mark NO. If the business has ceased operations, providing the correct last day of business is necessary to avoid complications.

Next, some filers forget to include important documentation when their home state charter has been terminated. The form explicitly states that documentation bearing the appropriate seal must accompany the application. Neglecting this step will result in delays as the request cannot be processed without proper verification.

Lastly, when selecting how to receive the certificate, individuals might neglect to fill in all contact details, such as the telephone number or email address. Incomplete information can lead to difficulties in further communication. Always ensure all sections are filled in carefully to facilitate smooth processing of your request.

When navigating the process of terminating a taxable entity’s existence or registration in Texas, various forms and documents may complement the 05-359 Texas form. Below is a brief overview of these essential documents, which are crucial for ensuring compliance with the state's tax regulations.

• Form 05-358 - This document is the Application for Extension of Time to file franchise tax reports. It allows entities extra time to prepare their tax filings while remaining compliant with Texas laws.
• Form 05-164 - Known as the Franchise Tax Report, this is the primary tax reporting form required for most businesses operating in Texas. It must be filed in conjunction with your tax obligations.
• Form 05-153 - This is the Texas Franchise Tax Public Information Report. It provides necessary details about the entity's operations and is often submitted alongside the Franchise Tax Report to maintain transparency.
• Form 05-167 - This form is for the Franchise Tax No Tax Due Report. It is used by entities that do not owe any tax, confirming that they are in good standing with the state.
• Form 01-114 - Known as the Certificate of Formation, this document establishes the existence of a corporation or limited liability company in Texas and may be necessary for merging or terminating entities.
• Form 50-284 - This is the Application for Renewal of Registered Agent. Keeping a registered agent updated is critical for any entity looking to terminate or merge its status.
• Home State Documentation - If an entity was formed outside Texas, it must provide its state documentation for termination, including the effective date of the termination and any associated filings in its home state.

These documents play a significant role in the overall process of terminating an entity's existence in Texas. Ensuring that each form is accurately completed and submitted will aid in avoiding potential complications down the road. Compliance with these requirements is essential not only for adhering to state regulations but also for safeguarding the interests of all parties involved.

• Form 05-356: Application for Franchise Tax Status. This form allows entities to request franchise tax status and receive confirmation regarding their tax obligations before termination, similar to the way Form 05-359 checks tax compliance prior to dissolution.
• Form 05-358: Texas Franchise Tax Report. This document requires entities to report their financial information annually. Both forms ensure that tax obligations are fulfilled before any termination or dissolution process.
• Form 05-356-1: Consent to Use of Texas Franchise Tax Report. This form can be submitted alongside a request for a certificate, similar to the 05-359, which also requires details about the entity's tax standing.
• Form 05-359M: Affidavit of Compliance with Franchise Tax. This affidavit serves to declare that the entity has complied with all franchise taxes, paralleling the compliance checks conducted in the 05-359.
• Form 05-357: Request for Letters of Good Standing. This form verifies whether an entity is in good standing before conducting business in Texas, akin to the verification process that Form 05-359 establishes for entities looking to terminate.
• Form 05-355: Texas Franchise Tax Cancellation Form. This document streamlines the cancellation process for franchises and is similar to Form 05-359 as both deal with the legal termination processes for Texas entities.
• Form 07-860: Application for Certificate of Account Status. This application confirms the status of an entity’s tax accounts, much like the 05-359, which confirms tax account status prior to cessation of existence.
• Form 05-348: Amended Franchise Tax Report. This report allows entities to amend previous tax reports. Both forms require an assessment of tax compliance before any dissolution or termination can proceed.
• Form 05-351: Statement of Change of Registered Agent or Office. This form updates official records and can affect an entity's standing, similar to how Form 05-359 processes changes before terminating an entity’s status.

Each of these forms serves a specific purpose, yet they all intersect through the theme of maintaining compliance with Texas tax laws and regulations before an entity can legally terminate its existence or registration. Proper filing and compliance are crucial steps in the process and ensure that all obligations are settled before dissolution.

Filling out the 5-359 Texas form requires careful attention to detail. Here is a list of things you should and shouldn't do to help ensure a smooth process.

• Do ensure that the entity’s legal name is entered exactly as it appears in the official records.
• Do verify that the taxpayer number and file number are accurate and up to date.
• Do check whether the entity is part of an affiliated group that must file a combined report.
• Do confirm whether the entity’s accounting year aligns with that of the combined group, if applicable.
• Do select the appropriate category of termination, whether it is for termination, merger, or entity conversion.
• Don’t rush through the form; take your time to ensure all information is correct before submission.
• Don’t forget to provide your preferred method for receiving the certificate, whether by mail, fax, or email.
• Don’t leave any sections blank; if a question does not apply, indicate that clearly.
• Don’t submit the form without double-checking all entries for errors or missing information.

By following these guidelines, you can help ensure that the certification process proceeds as smoothly as possible.

Understanding the 5-359 Texas form can be challenging due to various misconceptions. It’s essential for entities looking to terminate their existence or registration in Texas to have accurate information. Below are some common misconceptions about this form, along with clarifications on each point.

• Misconception 1: The form is optional for all entities.

This is not true. The form must be completed by entities that wish to officially terminate their legal existence or registration in Texas. Failing to submit this form could lead to ongoing tax liabilities.

• Misconception 2: All entities can immediately terminate their registration.

Not all entities are eligible to terminate their registration immediately. They must first satisfy all filing requirements for taxes administered by the Comptroller.

• Misconception 3: There are no consequences for failing to close tax accounts.

In reality, if an entity does not close its tax accounts before termination, it may face penalties or ongoing tax obligations.

• Misconception 4: The form does not require input from members of an affiliated group.

It actually does. If the entity belongs to an affiliated group, it must provide information about the reporting entity in Section A.

• Misconception 5: You can submit the form in any format.

The form must be submitted in the specific format outlined on the form itself. Electronic submissions can be made using SOSDirect, but all guidelines should be followed carefully.

• Misconception 6: Only Texas entities need to complete the form.

This is incorrect. Non-Texas entities that wish to terminate their business in Texas must also complete the form and provide relevant information about their operations.

• Misconception 7: You can receive the certificate without confirming your tax status.

This is false. A certificate will only be granted after the entity’s eligibility has been assessed, confirming that there are no outstanding tax obligations.

• Misconception 8: It’s unnecessary to provide the last day of business if no longer conducting business in Texas.

This is a misconception. The last day of business must be indicated for proper record-keeping and to confirm the entity's status.

• Misconception 9: Assistance is unavailable if issues arise during the process.

In fact, assistance is readily available through local field offices or by calling the provided numbers. Entities can seek help if they have questions or need clarification.

Addressing these misconceptions can help ensure a smoother process when completing the 5-359 Texas form. Understanding the requirements thoroughly can prevent delays or issues related to tax compliance and entity status.

When filling out the 5 359 Texas form, understanding the requirements and process can streamline your experience. Here are five key takeaways to consider:

• The form is essential for any entity wishing to terminate its existence or registration in Texas, and all tax obligations must be current before submitting it.
• Precise information about the entity, including legal name, taxpayer number, and file number, is required in Section A. It's crucial to fill this out accurately to avoid delays.
• If your entity is part of a combined group, the reporting entity’s information needs to be included in the applicable sections. This inclusion is mandatory based on the status of your accounting year.
• For entities formed outside Texas, you must indicate whether the business is still active in the state and provide details about the last day of business if it's no longer operating.
• Don't forget to check the preferred method of receiving your certificate. Options include email, fax, or standard mail, and your selection will affect how quickly you receive confirmation of the termination.

Reviewing each section carefully and ensuring that all required information is provided will help facilitate a smoother process in terminating your entity's registration in Texas.