What do I do if I let my UCC filing lapse and it should still be active?
After a filing is lapsed it cannot be extended. A new financing statement may be filed and the debtor's signature is not required.
How many different actions can be performed per form?
Only one action can be performed per form. An amendment may be filed to add a secured party, but to change the collateral on the same filing, a separate UCC3 form must be filed.
What is a correction statement?
A correction statement is filed by the debtor to correct a financing statement the DEBTOR believes is inaccurate or has been wrongfully filed. The filing of a correction statement does not affect the effectiveness of an initial financing statement or other filed record. Only filing an amendment will "change" information provided on an initial financing statement.
What is the effective period of a financing statement?
A financing statement is effective for a five year period from the date on the UCC1 filing, after which it will lapse unless a continuation statement is filed prior to the lapse date. A continuation statement may be filed on the amendment form within six months of the expiration of the five-year period. The continuation statement extends the lapse date an additional five years from the original file date regardless of the filing date of the continuation.
What information is required to file a UCC1 financing statement?
The information required to file a UCC1 financing statement is:
The debtor's name (only one may be entered).
If the debtor is an organization, boxes 1e, f & g must be filled in.
The address for the debtor, including mailing address, city, state and zipcode.
The name of the secured party (only one may be entered).
The address for the secured party, including mailing address, city, state and zipcode.
How should I provide the debtor's information?
Extra care must be taken when providing the debtor's information because it will be indexed into the UCC system as it is provided and will have an affect on search results. If more than one debtor name is provided on a form be sure to provide the information as two separate debtors.
Where do I file my UCC1 financing statement?
File the UCC1 financing statements involving an organization in the Secretary of State's in the state where the corporation was domiciled. If the debtor is an individual in the Secretary of State's office where the individual resides. The following examples are exceptions:
File in the office designated for filing or recording of a record of a mortgage on real property.
The filing states it is filed as a fixture filing and the collateral is goods that are or are to become fixtures,
The collateral is as-extracted collateral or timber to be cut. These type of documents are filed in the County Recorder's Office.
What forms do you accept for filing?
The Secretary of State will only accept the National form UCC1, 3 and 5 for filing. We would prefer use of the Nevada form to request a UCC11 search, but in most cases we will accept any UCC11 form as long as it provides all the information necessary to complete the search. Forms may be downloaded from our website here.
When I conduct a search, why didn't I receive information on similar names?
This office can only provide a search for the name exactly as requested. It is impossible to anticipate all name variations a filing party might have filed. To ensure a complete search, separate searches for each variation of the debtor's name may be requested.
Are social security and/or tax identification numbers required?
No, social security and/or tax identification numbers, as well as other confidential information such as credit card and bank account numbers are not required. These types of information should not be included on your documents. The Secretary of State may reject filings for the inclusion of such information. These documents are public record, meaning anyone has access to them.
What is a "TRUST ACCOUNT" and what are its benefits?
A TRUST ACCOUNT is an account to which a customer may deposit funds to pay fees for services that the customer requests from any division in the Nevada Secretary of State's office.
The customer makes an initial deposit of at least $100 accompanied by the TRUST ACCOUNT APPLICATION to open the account. After the account is opened, at least $100 must be kept as the minimum balance. It is very important to maintain a sufficient balance necessary to complete transactions.
How do I open a Trust Account?
A Trust Account may be opened by either downloading an application from the SOS web site or by contacting the Accounting Division at 775-684-5780.
Why should I file online?
Online UCC filing have a lower fee than traditional paper filings and may be filed 24-hours a day, 7 days a week. Filing is immediate as compared to the processing time of a traditional paper filing.