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Renew Your Medical Corporation License NOW – Before the December 31 Deadline
Posted on: 12/5/2017

ISMS is alerting member physicians to renew their corporate license by Dec. 31, 2017!

If a physician does not renew a medical corporation license for his or her entity by the deadline, the Illinois Department of Financial and Professional Regulation (IDFPR) may issue a notice of violation to the corporation.*

According to the Illinois Department of Financial and Professional Regulation (IDFPR), a physician should renew his or her medical corporate license as soon as possible to avoid a year-end "traffic jam." The busy time could cause enough of a delay to place a timely license renewal at risk.

Licensure

Here's another reason not to wait until the last day: As December 31 falls on a Sunday this year, those renewing on that last weekend in December would not have access to any assistance should they need it.   

Medical corporations, limited liability companies, and professional service corporations in Illinois are required by law to obtain a license annually from IDFPR. Regardless of the date when the license was issued, corporate licenses expire at the end of each year – December 31.

Remember, medical corporations must be licensed by IDFPR separately from a physician's individual medical license and controlled substance license(s). 

NEW: IDFPR no longer accepts paper applications for renewing or obtaining a first license for medical corporations.

So don't delay, act now! Renew on IDFPR's Online Services Portal

Learn more with ISMS' Issue Brief, Licensure for Medical Corporations, Limited Liability Companies and Professional Service Corporations. This resource covers corporate structures and licensure deadlines, along with a detailed FAQ section.

If you have questions, contact David Porter at 312-580-2468 or by email.


The Issue Brief is a member benefit and is password protected.

If you need to request a username and password, contact online support at 888-476-7776 or onlinehelp@isms.org between 8:30 a.m. and 4:45 p.m. After-hours requests are answered promptly the next business day. You may also register online or retrieve your username or password.

* The notice of violation provides a period of 30 days from the date of the notice for the corporation to either file an answer to the satisfaction of IDFPR or submit an application for registration, including payment of the $50 application fee and a late fee of $100 for each year that the corporation operates without having been issued a certification of registration, with a maximum late fee of $500. If the corporation that is the subject of the notice of violation fails to respond to the satisfaction of the IDFPR, the Department may institute disciplinary proceedings against the corporation and may impose a civil penalty up to $1,000 after affording the corporation a hearing. 



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