Iowa Corporation

What is an Iowa Corporation?

Iowa Corporation or Iowa INC, is a business formation registered with the Iowa Secretary of State. The Iowa Corporation will be able to issue shares of stocks to employees and investors, unlike an LLC in Iowa.

Iowa Corporation Requirements

1. State Filing Fee of $50.
2. A Registered Agent located in Iowa. See our service here.
3. Articles of Incorporation.
4. Beneficial Ownership Information Report filing. Your report must be submitted after company formation starting January 1, 2024.

Iowa Corporation Structure

IA Corporations are structured legally with the Iowa Articles of Incorporation. Like many states, the document for a Corporation formation is short and simple.

The required information to be listed:

• Name
• Shares
• Registered Agent
• Incorporator(s)

Iowa Corporation Name

In Iowa, a Corporation name must contain the word “Corporation”, “Incorporated”, “Company”, “Limited” or the abbreviation “Corp”, “Inc”, “Co.”, “Ltd.”.

Shares

A number is required to set the amount of shares the Corporation is rightfully allowed to issue.

Registered Agent

A Registered Agent in Iowa and an address is a requirement.

Incorporator(s)

The name and address of each Incorporator is to be listed on the Articles of Corporation for an Iowa Corporation.

How to File an Iowa Corporation

Steps to Incorporating an Iowa Corporation:

1. Naming Your Iowa Corporation: Every corporation must have a name. You must submit a name that both adheres to Iowa state law and that is not already registered with the Secretary of State. You can conduct a Business Entity Name search online to see if the name you wish to use is already registered or not.
2. Filing Articles of Incorporation: To form a corporation in Iowa, you must submit Articles of Incorporation to the Secretary of State. You can do this in person, by mail, or online. There is a $50 filing fee. Filings are generally processed in one to three days.
3. Iowa Registered Agent: When you file Articles of Incorporation, you must designate a registered agent. Your registered agent accepts service of process on behalf of your corporation. The agent must have a registered office within the state (a physical street location, not a PO box).
4. Corporate Bylaws: After you incorporate in Iowa, you need to write your corporation’s Bylaws. Bylaws lay out the initial ownership of your company (the shareholders and the number of shares they own), as well as address the management structure of your business. Bylaws are an internal document not filed with any government agency.
5. Opening Corporate Accounts: Once you form a corporation, you can open bank accounts for your business. Your corporation’s monetary transactions will be processed through these accounts. A bank will likely need copies of your Articles of Incorporation, Bylaws, and an initial resolution authorizing the opening of the accounts.
6. Biennial Report: Corporations in Iowa are required to file a Biennial Report every two years. Corporations must file during even-numbered years by April 1. There is a $45 filing fee (only $30 if filed online).
7. Beneficial Ownership Information Report: You must a file a BOI report with the Financial Crimes Enforcement Network after formation, starting January 1, 2024. The BOI report is free to file and must be submitted online.

What is the Difference Between Authorized and Issued Stock?

When you form a corporation, you must authorize a particular amount of stock. Authorizing is the same as creating the stock. Generally speaking, this can be as little or as much as you wish, although most corporations authorize around 100 shares (you can always authorize more shares later). Authorizing shares is done on your Articles of Incorporation.

Issuing shares is done at the first shareholders meeting. Issuing is the same as giving the shares to particular individuals (or entities). Until the shares are issued, they are not technically held (or owned) by any shareholder.

Shares are typically issued to shareholders in respect to the initial investment each shareholder has made in the corporation.

Iowa Registered Agent Duties

Your Iowa registered agent is bound by state law to fulfill the following duties:

• Have and maintain a registered office (physical street address) within the state
• Keep the registered office open during regular business hours
• Accept service of process on behalf of clients
• Contact clients when documents are accepted
• Forward documents to clients in a reasonable timeframe

Am I Required to Get an EIN When I Incorporate in Iowa?

Yes. Obtaining an Employer Identification Number is done through the Internal Revenue Service, not through a state agency. The Iowa Secretary of State will incorporate your corporation without an EIN, but an EIN is necessary for your corporation to pay federal taxes.

All corporations must have an EIN to file federal taxes. Even if a corporation conducts no business and makes no money, it must still file a tax return with the IRS.

You can obtain an EIN online at IRS.gov.

Iowa Corporation Biennial Report

After you incorporate in Iowa, you will have to file a Biennial Report every two years for your Iowa Corporation. Corporations file in even-numbered years. The Biennial Report is due between January 1 and April 1. There is a $45 filing fee (reduced to $30 if filed online).

There is no late fee should you miss the April 1 deadline, but the Iowa Secretary of State will administratively dissolve corporations that fail to file their Biennial Report.

Federal Beneficial Ownership Information Report Filing

Starting January 1, 2024, most newly-formed corporations are required to file a Beneficial Ownership Information (BOI) report with the Financial Crimes Enforcement Network (FinCEN) following company formation. On your report, you’ll need to disclose some basic details about your company and those with the most control over your corporation’s profits and operations. Save yourself from the additional paperwork with our $25 BOI report filing service.

Why Hire Corporate Filing Solutions to Form Your Iowa Corporation?

Starting your Corporation in Iowa shouldn’t be a hassle or a time consumer. That’s why we offer Filings Made Easy™ to make starting a Corporation in Iowa super easy.

Hire us and relax while our filing experts form your new Iowa Corporation. Our staff will process orders the same business day as they are received. To make things even easier, we bundle the first year of registered agent service and ensure your Iowa Corporation comes fully equipped and ready to do its job.

Start your Corporation in Iowa and get Registered Agent service for as low as $55 a year.