Never miss an annual report deadline

What an annual report is

Most states ask each LLC and corporation to confirm its details once a year, or once every two years. The filing is usually short: the company name, the registered agent, the address and the people who manage it. It keeps the state's records current and shows the company is in good standing.

It is not a tax return. It is also not the same as the IRS forms your company may have to file, which are separate.

Why it matters even if you earned nothing

The report is due whether the company made money or not. A company with no income still has to file. If it does not, the state can add late fees, mark the company as not in good standing, and in time dissolve it. A company that is not in good standing can find its bank account questioned and may be unable to take on new work until it is reinstated.

Deadlines and fees vary by state

There is no single rule. A few examples of how different they are:

• Some states set a fixed date for every company. Others use the month the company was formed.
• Some charge a flat annual tax or franchise tax in addition to, or instead of, a report fee.
• A few ask for a report every two years instead of every year.
• Some states have extra requirements, such as a publication notice or a minimum tax, that catch new owners by surprise.

Always check the current fee and date on your state's website before you rely on a general guide.

What you need to file

• The company's exact legal name and file number.
• The current registered agent and address.
• The managers or members, depending on the state.
• The fee, paid to the state.

How the registered agent fits in

The state sends its reminder to the registered agent, and the annual report confirms the agent's details. If your agent changes, update it with the state at that time. Our registered agent service goes together with this one.

A simple way to stay on top of it

1. Write down the due date for your state in a calendar, with a reminder a month before.
2. Keep the formation documents and last year's report in one folder.
3. File early rather than on the last day, since state systems can be slow.
4. If you move the company to a new state or add one, check the rules there too.

If the company is foreign-owned, remember the separate IRS filing described under US LLC tax filing.