Keep Your LLC in Good Standing | Filing Your Annual Report

Keep Your LLC in Good Standing: File Your Annual Report

Congratulations! You've received the stamp of approval from the Secretary of State--your LLC is now official. The countless hours you've spent preparing and filing paperwork to create your entity are finally over, right? Unfortunately, the answer is no.

As a part of the ongoing requirements for your LLC, your state of incorporation requires that you file an Annual Report (in conjunction with any applicable filing fees) each year to maintain a "good standing" status.

The Purpose of the Annual Report

The purpose of the Annual Report is to keep your LLC in compliance and in good standing. It updates important information, such as your registered agent (important for service of process), mailing address, physical address, and even managers and members with the Secretary of State. The Annual Report (which, sometimes isn't even required annually--we'll explain that part) is often referred to as:

  •  Annual Statement
  •  Statement of Information
  •  Periodic Report
  •  Biennial Statement
  •  Decennial Report

Some states may require a report to file every year, some every two years, and some may be fortunate enough to only have to file every ten years. It all boils down to your state's statutory requirements.

Failing to File

If you fail to file your Annual Report, you will likely assume penalty fees, and in some cases, the state will dissolve your LLC altogether. Some states are generous enough to allow a reinstatement period when this happens, but others will require you refile, which will issue your entity with a new date of existence and file number.

A past-due report, entity revocation, and reinstatements are information that is available to the public. Potential partners, investors, competitors and clients can, at any time and for any reason, request this information from the Secretary of State. Be mindful of this when you receive the report notice in the mail.

How We Can Help

At InCorp Services, we offer assistance with filing this very important annual document. We'll take the fear and stress over a missed annual filing off of your shoulders. How? Simply put, we'll do it FOR you! Our team of dedicated compliance specialists has over ten years of experience with helping our clients remain in good standing. Contact us today to find out why over 20,000 clients trust InCorp Services with filing their annual report.