Is Your Company Thinking of Doing a Name Change?
The Oklahoma Corporation Commission (OCC) must be advised in writing of any name change within thirty (30) days of the change. Determination will be made by the Surety Department if a new operator number will be necessary to be assigned or whether the company may retain the current operator number issued under the company's prior name. The below outlines what will be required for each business entity type.
If the name change involves a CORPORATION/LLC:
1. Did the FEIN change? If so, the new entity will need to submit its own Category B Surety and form 1006B separate from the original entity to be established as a new operator. Once the new entity is a valid operator, the old operator may request a release of the old operator’s surety.
2. Did the FEIN remain the same? If so, the Surety Department will need an SS-4 showing the Entity Name and FEIN assigned to it; if no SS-4 is available then a letter from the IRS showing both the name and FEIN assigned to it would be needed. The operator will need to submit a new form 1006B with the new name and update any surety instrument with the new name, specifically, a Bond on form 1006, a Letter of Credit on Form 1006C, or a Certificate of Deposit. If the operator is using a Financial Statement as surety, it will need to submit an updated form 1006A with the new name.
3. The new business name must be registered with the Oklahoma Secretary of State and be in Good Standing.
If the name change involves a PARTNERSHIP: ...
1. If a majority of the membership changes, then a new operator's number will be required.
2. In a husband/wife partnership, a divorce will always constitute the need for a new operator's number.
3. In a husband/wife partnership when one of the other becomes deceased, this constitutes a change from a partnership to a sole proprietor and a new operator number will be required (unless this was the only marriage for both the husband and wife, in which case the surviving spouse can keep the same number). If the surviving spouse remarries, a new number will need to be issued.
If the name change involves a SOLE PROPRIETORSHIP: ...
1. If the sole owner was originally set using their initials and the change reflects that they now want to use their full name, the OCC can use the same number, but the operator must provide a letter requesting such a change.
For specific questions concerning name changes contact one of the following:
Surety Department of the Oklahoma Corporation Commission at 405-521-2331 or
Taxpayer Assistance of the Oklahoma Tax Commission at 405-522-5883 or 405-522-5884