Big news in the world of UCC! The International Association of Commercial Administrators (IACA) has upgraded the national UCC forms. The primary focus of these updates lies in enhancing the instruction pages, making it easier for users to navigate and complete the forms accurately.
It’s important to note that most states are currently accepting both the current and new forms; however, the transition process varies from state to state. With the end of a quarter quickly approaching, more states are beginning to phase out the older edition of the UCC forms. Additionally, there are a handful of states that are choosing to reject the new form altogether for now.
We are tracking all of the changes so you don’t have to! You can find the latest UCC forms, along with the older version, by visiting our UCC Forms Library. Our website also contains a guide summarizing which form is currently accepted in each state. Our self-service UCC filing platform, UCC Filing Manager, has been updated to automatically use the preferred form of each state. UCC Filing Manager will not only help you avoid rejection pitfalls from using outdated forms, but by utilizing e-filing and auto-continuation notices, you can lower your costs, have a faster turnaround time, and receive notice prior to the lapse of a financing statement.
As always, feel free to reach out to your favorite Capitol Services UCC filing specialist or [email protected] for any additional information.