How to File an Annual Report for an LLC

When you start a limited liability company (LLC), you’ll want to be prepared to file annual reports for your business. Annual reports are an important part of annual compliance for your business.

But knowing exactly how, when, and where to file your annual report can feel overwhelming. In this guide, we’ll cover all the need-to-know essentials of filing an annual report so you can check this item off your list.

What is an LLC annual report?

An LLC annual report is a simple business filing that most states require for registered business entities. In the majority of states, this report is due every year (hence the title “annual report”). But some states require a biennial report (due once every two years) instead; Pennsylvania is a true anomaly, requiring this report once every 10 years.

The annual report actually contains some very basic information about your LLC, such as your physical business address, your registered agent information, your mailing address, and other contact information.

What an LLC Annual Report Is Not

An LLC’s annual report, for the purpose of this guide, is not a financial report. It’s different from the report a corporation is required to send to its shareholders. Granted, if you want to write up a financial status report for your members, you can. But the LLC annual report we’re discussing is a simple compliance requirement.

What is the purpose of the LLC annual report?

Annual reports exist to keep your state agency up to date so it can maintain accurate records for its legal business entities. It’s a quick fact-check for your contact information so the state knows where to send official notices. The report also helps your state know that you’re still up and running.

Additionally, an annual report allows your state to collect an annual fee. Paying this money might seem like a hassle for your business, but the revenue helps your state maintain its programs. In turn, this helps your LLC — and your whole state.

How do you file an LLC annual report?

Filing an annual report is easiest when you know exactly what to expect. Every state is a little bit different, but let’s talk through the general guidelines you should follow.

Step 1: Check annual reporting requirements

Consult with your Secretary of State (or similar agency) to learn what the LLC annual report requirements are in your area. Some states require this yearly report, others require a biennial report, and a couple of states don’t even require a report. You’ll also want to check your state’s due date and fee schedule so you know what to expect.

If you operate in multiple states, you’ll need to file a report in each state where you’re located. Keep in mind that states have different names for this report, like “periodic report,” so you might need to modify your search a bit.

Step 2: Gather the required information

You’ll need to compile the information you’ll fill out on the annual report. Every state requires slightly different information, but often it’s similar to what’s included in your Articles of Organization. Here are some of the most common topics for LLC annual reports:

• Legal name of the business
• Your principal office address
• Mailing address for the LLC
• Name of each member (and sometimes their mailing address)
• Name of your registered agent for service of process
• Your registered office address
• Current email address for the business

Making Amendments in Your Annual Report

In some states, you can actually use your annual report to make amendments to some of your business information. This feature is most commonly used to update your registered agent. Generally, going this route saves you a little more money than making a separate amendment and paying that fee.

Please note that some changes, such as changing your legal business name, can’t be made on the annual report. You’d need to file the full Certificate of Amendment to do that.

Step 3: File your annual report

Now you’re ready to actually fill out and submit your annual report. Every state has slightly different methods, such as online filing, dropping off paper forms in person, or filing by mail or fax. Simply pick your favorite filing method, fill in the required information, and submit it.

Most states also charge an annual report fee, which you should include with your completed report. That might entail filling out a credit card endorsement form, getting a money order or cashier’s check, or writing a business check. Some states don’t accept cash payments unless you’re filing in person, so check your local guidelines. And don’t forget that if you’re filing late, you’ll probably owe a late fee, too.

Step 4: Observe the deadline

Every state sets a deadline for when your annual report is due, and you’ll want to make sure you file by then. In some states, the report due date follows your fiscal year. In others, the due date is the beginning or end of your LLC’s anniversary month. It varies, so check and track the due date for each state where you operate.

Worried that you’ll accidentally miss your deadline? Our annual business report service or our worry-free compliance service can help you stay on track.

What are the penalties for not filing the LLC annual report?

Failing to file your report on time can have some substantial penalties. The most common penalty is a late fee, which varies from state to state. In some states, it can get really pricey to file your report late. Florida, for example, charges a hefty $538.75 for late reports. Additionally, you can lose your good standing status in your state.

If you wait too long to file your late report, you might even face administrative dissolution: when the state closes your LLC by force. You can usually file for reinstatement to remove your delinquent status, but it’s a hassle. And it can be expensive. It’s far simpler to just file your report on time and avoid dissolution entirely.

We can help!

Running an LLC can feel overwhelming, but you don’t have to go it alone. Here at ZenBusiness, we help small business owners breeze through the red tape of business operations. Whether you need help filing your annual report, worry-free business compliance assistance, a new registered agent, or anything in between, we have you covered.

Disclaimer: The content on this page is for informational purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.