Form I-349 - Schedule For Business Closure Or Organizational Change (Page 2 of 2) in pdf

Form I-349 - Schedule For Business Closure Or Organizational Change Page 2

Purpose of Form

I-349 must be completed and included with the final return of all corporations that have merged into another corporation,

undergone reorganization, dissolved, or withdrawn or surrendered authority to do business in South Carolina.

Complete the upper portion, place a checkmark or “X” in one of the boxes to indicate the appropriate type of

organizational change, and complete the section that applies to that type of organizational change.

NOTE: No account is closed until the corporation closes with the Secretary of State’s Office. You can contact the

Secretary of State’s Office at or by calling 803-734-2158.

Final Return Information

A corporation must follow the steps listed below when filing a "Final Return" and ceasing to exist or when withdrawing

from this state.

A domestic corporation must file Articles of Dissolution with the Secretary of State.

A corporation other than a domestic corporation must file an Application to Surrender Authority to do Business with

the Secretary of State.

The corporation must file a final tax return by the 15th day of the 3rd month after the end of the tax year after filing

the Articles of Dissolution or Application to Surrender Authority to do Business. The final return must include a

schedule showing the distribution of the assets to the stockholders.

•

An extension of time to file may be obtained by filing Form SC1120-T prior to expiration of the filing period if

there is tax due.

•

If the taxpayer is not required to make a payment for tax or license fee at the time of the extension, and the

taxpayer has been granted an extension of time to file a federal income tax return, it is not necessary to file a

separate state extension form. Attach a copy of the properly filed federal extension to the final South Carolina

return when filed.

The appropriate box in the upper right corner of the return should be marked in the space indicating the reason for

the final return.

Form I-349 - Schedule For Business Closure Or Organizational Change Page 2