Navigating the Annual Report requirements in Missouri? Discover essential insights and streamlined steps in our comprehensive guide. Stay informed and ensure a hassle-free submission – delve into the guide today.
Congratulations on officially launching your Missouri business. After the time and effort of writing a business plan and registering your company in the state, your entrepreneurial dreams are becoming reality. And if you registered your business as a corporation in the state of Missouri, there’s still one piece of important paperwork to do: your first Missouri annual report.
Every state has unique filing requirements that vary for limited liability companies (LLC) and corporations. Some states require annual filing, while others let companies skip a year between filing. Articles of amendment are required in some states but not in others. Plus, you’ll need to track down and consider the fees, application deadlines, and possible late filing penalties in the state of Missouri.
If your business is an LLC, you’re in luck. Missouri is one of a few states that doesn’t require LLCs to file an annual report. Corporations need to file a report that the state of Missouri calls an “annual report,” though for-profit corporations can switch to filing every other year. The filing process is mostly straightforward, and you can complete it through the state’s online portal.
With this guide, you’ll learn everything you need to know to successfully file an annual report in Missouri. Here are the key points to consider:
A Missouri annual report is the state’s way to keep your business information current. Legally establishing your business as an LLC or corporation is often the first step for most states’ reporting requirements. Missouri also requires that corporations (both foreign and domestic) file an annual report, though for-profit corporations have the option to file every other year. Unlike most states, Missouri LLCs are not required to file.
Corporations file through the Missouri Secretary of State. Failure to file on time will result in hefty fines, and also eventually lead to administrative dissolution of a domestic corporation’s charter or a foreign corporation’s certificate of authority. The information found in annual reports is publicly accessible via the Missouri Secretary of State website.
Unlike most states, LLCs are not required to file annual reports in Missouri. Only for-profit and nonprofit corporations must file.
Missouri business owners have multiple options to file their annual report. If you opt to file in person or by mail, you can search your business name via the business entity database and print out the necessary paperwork. You can also contact the office of the Missouri Secretary of State, Corporations Division to get the paperwork sent to you.
While corporations retain the option to file via mail or in person, the state of Missouri encourages filing online. Filing online is also the easiest and most affordable option. Once you fill out your information online for the first time, the database will automatically save your info. Unless you need to change any information from the previous year, the saved data will allow you to file in just a few clicks.
The state should send over a yearly reminder to file in the mail, but don’t count on it as your only reminder. It’s your responsibility to stay on top of your filing deadlines.
If you have questions about filing, reach out to the Corporations Division.
All corporations established on or after July 1, 2003, are required to file an annual report by the end of the month the business was incorporated or qualified in. For example, if your corporation was incorporated in October 2020, you wouldn’t need to file again until October 2021. For-profit corporations can elect to file every other year by requesting biennial filing with the Secretary of State.
If you are late to file your annual report, you’ll face an additional fee of $15 for every 30 days that the report is late. After 90 days, the Missouri Secretary of State will administratively dissolve your business entity. If that happens, you’ll need to request and complete a reinstatement package from the state.
For corporations, it costs $20 to file an annual report online and $45 to file by mail. Nonprofit corporations must pay $10 to file an annual report. You can file online with a Visa, MasterCard, American Express, or Discover credit card or via electronic check. Filing via credit card comes with a $1.25 convenience fee. Filing with an electronic check has a $.50 filing fee.
Anyone with authority in your business may file an annual report. In order to do so, the person filing will need the following information:
Once the annual report is complete, your corporation will not need to file again until the following year. You can also request biennial report filing from the state for the option to file every other year.
After the state processes your annual report, anyone can access your information online via the Missouri business entity database. If you decide you’d like to change the annual due date, you can contact the Secretary of State to do so. You also retain the option to change the annual registration to a biennial one, in which the annual report will only be due on odd-numbered years.
If you fail to file your business by the end of your anniversary month (or manually updated due date) you will face a $15 late penalty for every 30 days your annual report is overdue. If you still haven’t filed within 90 days of the end of your anniversary month, your business will be administratively dissolved.
If your business is dissolved, you can no longer do business under its former business structure, leaving your personal assets vulnerable to creditors. The good news is that you can reinstate a dissolved Missouri company. To apply, contact the state rescissions department.
In your request, you must include the name of the corporation, the charter number, and a return address (plus a telephone number, physical address, and express mail account order if you need the paperwork express mailed.) The state will then mail the reinstatement forms to you. You’ll also have to submit a tax clearance letter from the Department of Revenue. You can obtain a tax clearance letter by requesting a Department of Revenue Form 943 and then submitting it to the Department of Revenue.
While you can call the Missouri state government to get assistance filing your annual report, reading the state’s how-to guide for filing online may be easier. You can also send questions by email.
For-profit corporations are charged a $20 filing fee for filing online and $45 for filing by mail. Nonprofit corporations must pay a $10 filing fee. Payments can be made online via MasterCard, Visa, Discover, or American Express credit cards with a $1.25 processing fee. You also have the option to pay via electronic check for an additional $0.50 processing fee.
There’s a $15 late penalty for every 30 days you wait to file after your deadline.
Missouri does not require original signatures when filing an annual report. Digital signatures are sufficient.
The Missouri annual report is due by the end of the month when you originally registered your business. If you fail to file on time, you’ll be charged a $15 late fee for every 30 days you fail to file.
After 90 days of failing to file, your business will be administratively dissolved by the state. That will formally remove its legal protections. To get it reinstated, you’ll need to fill out reinstatement paperwork and a tax clearance letter and mail them to the Secretary of State.
No, only active corporations are required to file an annual report.
No, Missouri LLCs are not required to file an annual report.
Disclaimer: The content on this page is for information 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.
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