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Maryland UCC5 - National Financing Statement Correction Statement and instructions

Category:
Secretary of State - Business Entity
State:
Maryland
Control #:
MD-SKU-0646
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Description

UCC5 - National Financing Statement Correction Statement and instructions
The Maryland UCC5 — National Financing Statement Correction Statement is a form used to correct errors on a financing statement filed with the Maryland Department of Assessments and Taxation. It is used to make changes to an existing filing of the UCC1 Financing Statement, UCC3 Financing Statement Amendment, or UCC5 Financing Statement Amendment. The form can be used to correct a debtor’s name, add or delete secured parties, delete or restate collateral descriptions, or add or delete a subordinate filing. There are two types of instructions for the Maryland UCC5 — National Financing Statement Correction Statement. The first type of instruction is for correcting errors on an original filing. The second type of instruction is for deleting or restating collateral descriptions. The form must be completed in full and signed by the debtor or secured party, and then filed with the Maryland Department of Assessments and Taxation. The filing fee for the Maryland UCC5 — National Financing Statement Correction Statement is $30.00.

The Maryland UCC5 — National Financing Statement Correction Statement is a form used to correct errors on a financing statement filed with the Maryland Department of Assessments and Taxation. It is used to make changes to an existing filing of the UCC1 Financing Statement, UCC3 Financing Statement Amendment, or UCC5 Financing Statement Amendment. The form can be used to correct a debtor’s name, add or delete secured parties, delete or restate collateral descriptions, or add or delete a subordinate filing. There are two types of instructions for the Maryland UCC5 — National Financing Statement Correction Statement. The first type of instruction is for correcting errors on an original filing. The second type of instruction is for deleting or restating collateral descriptions. The form must be completed in full and signed by the debtor or secured party, and then filed with the Maryland Department of Assessments and Taxation. The filing fee for the Maryland UCC5 — National Financing Statement Correction Statement is $30.00.

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FAQ

?How to File UCC Documents with the Department Filing Fees: Filings of 8 or fewer pages cost $25 and filings of 9 or more pages cost $75. If you have further questions please email the UCC division at sdat.ucc@maryland.gov or call at 410-767-1459.

A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.

An assignment adds a secured party. An amendment to add a secured party adds a secured party.

In these situations, you can file a UCC-3 termination yourself with your secretary of state. You must swear under oath that you've satisfied the debt in full and complete the UCC termination form.

Suppose you discover an outdated UCC filing on your credit reports which have already been released. In that case, you can dispute the mistake and ask the business credit reporting agencies to remove it from your reports. Keep in mind, however, that no federal law requires them to do so.

A UCC filing won't impact your business credit scores directly because it doesn't indicate anything about your ability to repay your debts. However, it can affect your ability to get credit again in the future.

Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.)

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More info

Instructions for National Correction Statement (Form UCC5)​​ Please type or laserprint this form. Be sure it is completely legible.Instructions for Information Statement (Form UCC5)​​ Please type or laser-print this form. National UCC Financing Statement (Form UCC1) (Rev. Items 1 - 7 — Read all Instructions, especially Instruction 1; correct Debtor name is crucial. Follow. Instructions completely. UCC5 Correction Statement (National) Form. This is a Official Federal Forms form and can be use in Uniform Commercial Code (UCC). The following PDF forms are provided to assist with your UCC processing. The following forms are PDF files which require Acrobat Reader to view.

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