What is an LLC annual report and where to file

What is an annual report for an LLC? 

An LLC annual report is a form states use to gather updated information on businesses operating within the state. Some states assign other names to annual report forms, including a statement of information or, if the report is not filed annually, a biennial, periodic or decennial report. Not only do these reports update the state on your business’s most recent information, but it can also be used to update investors or other stakeholders. 

The following information is often included in an annual report: 

• The business’s legal name.
• The LLC’s address. 
• The name and address of your business’s registered agent. 
• The name, address and contact information of the person who should be the recipient of important tax documents. 
• The names of all current members, officers, directors or managers. 
• The LLC’s employer identification number (EIN). 
• Debit or credit card information to pay the filing fee.

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How much are annual report filing fees?

Most states require you to pay a filing fee when you submit your annual report. This report’s filing fees range from $0 to $4,500, depending on the state, type of business and the business’s activities. 

Here are some examples of filing fees:

• In Kentucky, the annual report filing fee is $15 each year. 
• In Hawaii, the annual report filing fee is $12.50 if you file online or $15 by mail.
• In Colorado, annual reports are called periodic reports; their filing fee is $50 due each year. 
• In California, an annual report is called a statement of information, and the filing fee is a minimum of $800 yearly. The minimum fee is subject to increase based on your business’s annual earnings. 

Where to file an annual report for an LLC

Most states require you to file your annual report with the secretary of state or the division of corporations. Generally, you will receive a reminder from the state of when your annual report is due with instructions on where to file the report. In most states, business owners can file their reports online or by mail. 

Here are some examples of where to file annual reports in different states:

• In Arkansas, you can file your LLC annual report with the Arkansas Secretary of State. To do so, you must opt to file your franchise tax online; at that point, the system will walk you through the process of filling out the annual report form and paying the filing fee (called the franchise tax in Arkansas). 
• In Maine, you must file your annual report with the Maine Secretary of State. You can do so online by visiting Maine’s annual report filing page. You can either sign up for an account or submit the report as a non-subscriber.
• In California, you must file your annual report with the California Secretary of State. You can do so using its bizfile online system. 

To find out where to file an annual report in your state, Northwest Registered Agent offers a state-by-state annual report filing guide. 

However, if you would like assistance filing your annual report, many LLC formation companies offer these services. For example, ZenBusiness provides annual report filing services for $100 plus state filing fees. Similarly, LegalZoom offers annual report filing services for $99 plus state filing fees. 

Read our best registered agent services guide for a more comprehensive list of companies that can help file your annual report. 

Penalties for not filing

The penalties for not filing an annual report vary by state. Some states will accept late filings but charge a late fee. However, more often, states will dissolve your business if you do not file on time.

Here are a few examples of how states handle late annual report filings: 

• In Kentucky, if you’re late filing your annual report, your business will be in bad standing with the state. At the 60-day mark, you will receive a notice asking you to file your annual report within 60 days. If you do so, your business will revert to good standing with the state without a penalty. However, if you fail to file in the allotted time, Kentucky will administratively dissolve your business or revoke your authority to do business in the state. 
• In Connecticut, if you do not file your annual report on time, you will not be able to obtain a certificate of legal existence for your company, and the state can administratively dissolve your business. Without a certificate of legal existence, your company’s ability to perform key business tasks, such as accessing business funding, may be impacted. 
• In New York, if you do not file your biennial statement on time, your business will be listed as past due in the New York Department of State’s records. This means that, if you need a certificate of status or a status letter to conduct business tasks, such as obtaining business funding from an investor or a bank, you will be denied. 

Featured LLC service offers

ZenBusiness

Learn More

Via ZenBusiness’ website

Free version available

Yes

Lowest published package price

$199

Live chat

Yes: Human

LegalZoom

Learn More

Via LegalZoom’s website

Free version available

Yes

Lowest published package price

$249

Live chat

Yes

Northwest Registered Agent

Learn More

Via Northwest’s website

Free version available

No

Lowest published package price

$39

Live chat

Yes

Keeping track of annual report due dates

Each state has its own requirements for when annual reports are due. Some require all annual report submissions on the same date each year, while others vary the date based on your business’s date of formation. And some states only require you to file every other year or once every five or ten years. 

The good news is that most states send a reminder by mail or email when your annual report due date is approaching. However, if you want to plan ahead, Bizfilings.com offers a due date toolkit that includes the due dates for annual report filings by state. It also contains detailed information, such as the filing due date by entity type and the frequency in which you’re required to submit your report.

Another way of managing business filing dates is by hiring a registered agent service that offers a filing calendar and reminders. For example, Swyft Filings and incorporate.com provide notifications for all upcoming annual report filing deadlines with their registered agent services.