Filing of Fictitious Business Name Statement

What Is a Fictitious Business Name?

A fictitious business name is one that does not use the business owner’s name. You need to file a fictitious name statement if you are running a business under an assumed name or one unique from your own.

Filing a fictitious name statement is required by law to connect the name of the business to the name of the owner. The advantage of this law is that it protects the consumer by allowing them to get information about the owner of a company if ever they have problem statements regarding the company, or if they need to file a lawsuit.

Where to File a Fictitious Business Name Statement

Where to file a fictitious statement example in excel about business name depends on which country you obtain your business license.

You can ask your city clerk with whom you filed your business license or your secretary of state. They are usually the ones who know where to file a business statement using another business name.

However, there are some cases where the fictitious business name statement can only be filed in the county where the business is located instead of where you registered, although the two are often the same.

When to File Fictitious Business Name Statement

This, too, depends on the country where the business obtains its license. But, in most countries, the fictitious business name statement should be filed within 40 days after the first day of business transaction.

If it is registered, the fictitious business name statement is effective for 5 years and the business need statements to renew or re-register prior to the date of expiration. The business will also have to re-register if they change their location.

Filing a fictitious business name statement also requires the business to open a business checking bank account in the name of the business. Banks will not also open a business account if your business does not have a copy of your DBA registration certificate.

The Restrictions of Fictitious Business Name Statement

Businesses can only use the terms “corporation,”, incorporated,” or any abbreviations for these terms (i.e., “Inc.” or “Corp.”) in their business name if they have registered as a corporation with the secretary of state. The registration of for corporation is a separate filing process and not done along with filing for fictitious business name statement.

In this case, if your business is using a fictitious name, most banks will not let you open for business bank account unless you have proof hat shows you have filed for a fictitious name. You can also find different formats such as statements in pdf, statements in word.

The Exceptions to Filing a Fictitious Business Name Statement

However, there are states that do not require a separate fictitious name filing for corporations, unless that business operates under a name that is different from the name under which the business is registered.

For example, if the business has an “Inc.” in their business name, they may not have to file for fictitious business name statement, because they are incorporated.

However, if they operate another business which does not have “Inc.” or “Corp.” in their business name—say, for example, they have “Enterprises”—they would have to file for fictitious business name statement specifically for the name that their business is currently doing business under.