A UCC-1 does not stay accurate forever. Debts get paid, secured parties merge and borrowers change their names. The UCC-3 form handles all of that.
What can a UCC-3 do?
It can amend the original filing, for example to change the collateral or the secured party's address. It can assign the filing to a new secured party. It can continue the filing for another five years. And it can terminate the filing once the debt is settled.
When must a continuation be filed?
A filed financing statement is effective for five years. UCC section 9-515 allows a continuation statement only within the six months before that period expires. If it is not filed in that window, the filing lapses.
Say a statement was filed on March 10. The five years end on March 10 five years later, so the window opens on the September 10 before that date and closes on March 10.
What is the 20 day termination rule?
Under UCC section 9-513, within 20 days after a secured party gets an authenticated demand from a debtor, it must file or send a termination statement. Ask the filing office or a lawyer how the rule applies to your debt.
What should you check before you file?
Look up the original filing first and copy its file number exactly. A UCC-3 that points at the wrong file number changes nothing. Read the debtor name and the secured party name on the record, and make sure they match the form.
Keep the acknowledgment the office sends back. It is your proof that the amendment, continuation or termination was accepted, and it helps if a lender or buyer asks later.
How do you file a UCC-3?
- Find the original file number in the state UCC search.
- Pick the action: amend, assign, continue or terminate.
- Complete the form for your state with the file number and the changes.
- File with the same office that holds the original statement.
- Check the search again to confirm the record shows the change.
State fees and forms differ. Our state pages list the amounts each office publishes. If you want help, you can ask our private filing service. State fees are separate. This is a guide, not legal advice.
Sources
Timing rules come from the model law text linked above. State forms and fees are on the state pages.