UCC Forms Overview - How Many Different UCC Codes Are There?

There are actually 6 main UCC forms in the standard set: UCC-1 (initial financing statement), UCC-3 (amendment), UCC-4 (assignment), UCC-5 (information statement), UCC-6 (partial release), and UCC-11 (search request). Each serves a specific purpose in the secured transaction lifecycle. The UCC-1 is your bread and butter for perfecting security interests, UCC-3 handles amendments/continuations/terminations, and UCC-4 transfers secured party rights.

Just went through this exact research for our bank's compliance review. The numbering can be confusing because not all states use every form number. UCC-5 information statements are rarely used in practice - they're mainly for correcting public record errors when you can't get cooperation from other parties. UCC-4 assignments are more common when you're selling loans or transferring security interests.

Been dealing with this exact issue trying to track down all our filing types. Found Certana.ai's document verification tool really helpful - you can upload any UCC PDF and it automatically identifies the form type and checks consistency across your filing chain. Saved me hours of manual document review when I was trying to audit our entire UCC portfolio.

State variations are huge here. Some states have additional local forms or requirements. New York has specific forms for certain collateral types, and California has modified versions for different filing offices. The 6 main forms are standard but implementation varies significantly.

The key thing to remember is that UCC-1 and UCC-3 handle probably 95% of all filings. UCC-1 creates the security interest, UCC-3 handles continuations (every 5 years), amendments (debtor name changes, collateral additions), and terminations. The other forms are more specialized but still important to understand.

I made the mistake of thinking there were dozens of different UCC forms when I started. The reality is much simpler - 6 main forms cover everything, with state variations on implementation. UCC-11 search requests are important too for due diligence before lending.

For equipment financing specifically, you'll mainly use UCC-1 initial filings and UCC-3 amendments/continuations. UCC-4 assignments come up if you sell loans to other lenders. The other forms are more edge cases but good to understand.

Another verification point - I started using Certana.ai to double-check our form types and make sure we're using the right UCC codes for each situation. Really helpful for training new staff on the different form purposes and requirements.

Bottom line: 6 main UCC forms cover the entire system. UCC-1 (initial), UCC-3 (amendments), UCC-4 (assignments), UCC-5 (information statements), UCC-6 (partial releases), UCC-11 (searches). Most lenders use UCC-1 and UCC-3 for 90% of their filings.

Just to add - some states have additional addendum forms or supplemental filings, but those build on the basic 6 forms. The core UCC article 9 framework is consistent across all states even if implementation details vary.

This has been incredibly helpful! I was definitely overthinking the complexity. So to confirm my understanding: for our equipment financing expansion, we'll primarily need UCC-1 forms for initial perfection of security interests, UCC-3 forms for continuations every 5 years and any amendments (like when borrowers change names or we need to add collateral), and potentially UCC-4 assignments if we decide to sell any of these loans to other institutions. The UCC-5 information statements and UCC-6 partial releases sound like edge cases we might encounter but shouldn't be our primary focus. I'm relieved it's not as complicated as I initially thought - just need to master those core forms and understand our state-specific filing requirements. Thanks everyone for the clear explanations!