- If there’s enough money from the sale after paying off the loan, go ahead and pay back your investors’ original capital contributions. Make sure to withhold enough to pay any outstanding liabilities (tax returns, property tax bills, outstanding contractor bills).
- Check with your registered agent regarding any publication requirements. Consider doing a publication even if it’s not required, as it can serve to legally notify contractors that they need to make any outstanding claims within a certain period of time or lose their rights to collect. If there is no publication requirement, consider sending a close-out letter to all past contractors to let them know you will be dissolving the company and to submit any outstanding bills within 30 days or lose their right to collect.
- Check with your real estate counsel for any recommendations they may have.
- Distribute any remaining funds according to the waterfall in your operating agreement.
- Make sure your Corporate Transparency Act filings are up to date with FinCEN before you dissolve.
- Have your Registered Agent file your dissolution papers before the end of the year.
What’s in a Securities Offering?
A private placement securities offering includes a number of documents, which collectively...