File Your Annual report with LLC Business Filer

An Annual Report is a document that businesses, especially LLCs and corporations, are often required to file with their state’s Secretary of State or another regulatory agency. It provides up-to-date information about a company’s operations.

The report ensures the company remains in good standing with the state. The specific requirements and filing frequency can vary depending on the state or jurisdiction.

Failing to file an annual report can lead to a range of negative consequences for a business, depending on the state and the type of entity (LLC, corporation, etc.). Here are some of the typical consequences:

1. Late Fees and Penalties:

Most states impose late fees or penalties for failing to file the annual report by the due date. These fees can accumulate the longer the report remains unfiled.

2. Loss of Good Standing Status:

If a business fails to file its annual report, it can lose its "good standing" status with the state. A company in bad standing may not be able to obtain financing, renew licenses, or enter contracts.

3. Administrative Dissolution or Revocation:

If the annual report is not filed for an extended period (usually several months), the state may administratively dissolve the company (for LLCs) or revoke its corporate charter (for corporations). This means the business no longer legally exists and cannot operate under its legal name.

4. Inability to Conduct Business:

Once a business is dissolved or has its charter revoked, it can no longer legally conduct business, sign contracts, or bring lawsuits in court. This may disrupt operations or lead to loss of contracts and customers.

5. Personal Liability for Owners/Directors:

In some cases, particularly for corporations, the owners or directors may lose the liability protection provided by the business entity. This means they could be personally liable for the company's debts and legal issues.

6. Reinstatement Costs:

Reinstating a business after it has been dissolved can be costly and time-consuming. This may involve paying additional fees, filing back-dated reports, and undergoing a more complex legal process.

7. Difficulty Opening Bank Accounts or Securing Loans:

Banks and financial institutions often require a company to be in good standing with the state before allowing it to open accounts or secure loans. Failure to file an annual report can lead to rejection of these applications.

8. Impact on Business Reputation:

A company that is not in good standing or has been dissolved may have its reputation damaged, affecting relationships with clients, partners, and vendors.

9. Potential Fines or Legal Action:

In some cases, especially if the company continues to operate without filing its report, the state may take legal action, levy fines, or impose additional penalties.

How to Avoid These Consequences:

A. File on Time: Set reminders or use professional services to ensure timely filing.

B. Correct Errors Promptly: If you miss a deadline, some states offer grace periods during which 

     late fees may be lower.

C. Reinstate Quickly: If your business is administratively dissolved, act quickly to file the necessary

     paperwork to reinstate the company.

Maintaining compliance by filing annual reports on time helps businesses avoid these complications and ensures smooth operations.fails to file its annual report, it can lose its "good standing" status with the state. A company in bad standing may not be able to obtain financing, renew licenses, or enter contracts.

Here is a list of due dates for filing annual or biennial reports by state, including Washington, DC, and Puerto Rico. Note that these dates may vary slightly depending on the type of business entity (LLC, corporation, etc.), so it is important to verify the specific requirements for your business structure in each state.

• Alabama: Anniversary of incorporation date (annual)
• Alaska: January 2 (biennial, odd years)
• Arizona: Anniversary of incorporation date (annual)
• Arkansas: May 1 (annual)
• California: 5 months after incorporation, then biennially based on original filing date
• Colorado: Last day of the anniversary month of incorporation (annual)
• Connecticut: March 31 (annual)
• Delaware: LLC: June 1 (annual); Corporations: March 1 (annual)
• District of Columbia (Washington, DC): April 1 (biennial, even years)
• Florida: May 1 (annual)
• Georgia: April 1 (annual)
• Hawaii: Anniversary of incorporation (annual)
• Idaho: Anniversary of incorporation (annual)
• Illinois: Anniversary of incorporation (annual)
• Indiana: Anniversary of incorporation (biennial)
• Iowa: Anniversary of incorporation (biennial)
• Kansas: April 15 (annual)
• Kentucky: June 30 (annual)
• Louisiana: Anniversary of incorporation (annual)
• Maine: June 1 (annual)
• Maryland: April 15 (annual)
• Massachusetts: Anniversary of incorporation (annual)
• Michigan: February 15 (annual)
• Minnesota: December 31 (annual)
• Mississippi: Anniversary of incorporation (annual)
• Missouri: Corporation: Anniversary of incorporation (annual); LLC: No annual report required
• Montana: April 15 (annual)
• Nebraska: April 1 (biennial, odd years)
• Nevada: Last day of the anniversary month (annual)
• New Hampshire: April 1 (annual)
• New Jersey: Anniversary of incorporation (annual)
• New Mexico: Anniversary of incorporation (biennial)
• New York: Anniversary of incorporation (biennial)
• North Carolina: April 15 (annual)
• North Dakota: November 15 (annual)
• Ohio: No annual report required for most entities
• Oklahoma: Anniversary of incorporation (annual)
• Oregon: Anniversary of incorporation (annual)
• Pennsylvania: April 15 (annual)
• Puerto Rico: April 15 (annual)
• Rhode Island: March 1 (annual)
• South Carolina: Anniversary of incorporation (annual)
• South Dakota: Anniversary of incorporation (annual)
• Tennessee: Anniversary of incorporation (annual)
• Texas: May 15 (annual)
• Utah: Anniversary of incorporation (annual)
• Vermont: March 15 (annual)
• Virginia: Anniversary of incorporation (annual)
• Washington: Last day of the anniversary month (annual)
• West Virginia: July 1 (annual)
• Wisconsin: Anniversary of incorporation (annual)
• Wyoming: First day of the anniversary month (annual)

Each state may have specific requirements, fees, and variations depending on the type of business entity. It’s always a good idea to check the Secretary of State's website or consult a professional to confirm your business's specific due date.                                                                                                                                        

LLC Business Filer charges a flat fee of $53 plus State fees to file Annual Reports for LLCs and Corporations.

Fee Summary:

• LLC Business Filer Fee: $53
• State or Territory Fee: Varies By State/Territory