File an Annual Report for Your LLC With Bizee

What Is an Annual Report?

An annual report is a filing that provides details of your company's business activities over the previous year. Some states call annual reports for LLCs “Statements of Information.”

Annual reports give state governing authorities important information, including the names and addresses of directors or managing members of a corporation or LLC, as well as the company and Registered Agent address.

As a business manager, director or owner, you’re obliged to follow state regulations and meet certain requirements, one of which is to file an annual report for your LLC or corporation.

Some states only require you to file a report every two years, called a “biennial report.”

A formal annual report is required to be filed with your Secretary of State. Learn more about filing an annual report in our ultimate guide.

You may also need to create additional yearly reports for your investors, shareholders or stakeholders, but these business or financial reports are not the same as LLC or corporation annual reports.

Who Needs to File an Annual Report?

If you’ve incorporated a business — as an LLC, LLP, S Corp, or C Corp — you must file an annual report (or equivalent report based on your state's schedule), normally with your Secretary of State. This applies no matter how big or small your business is.

Annual reports can be daunting and filing incorrectly (or not at all) can cause serious headaches and consequences later, such as late penalties, dissolution and loss of liability protection.

Avoid tiresome paperwork and the repercussions of noncompliance by letting Bizee take care of the paperwork for you. Free up your time to focus on what matters — your business.

Who Doesn’t Need to File an Annual Report?

Generally, sole proprietors and partnerships don’t have to file an annual report because the business is not a separate entity from the business owner.

What’s the Purpose of an Annual Report?

The purpose of an annual report is to keep your state informed of your business’s activities throughout the previous year and declare any changes to the details or ownership of your business — for example, if the business has changed locations or has new directors or managers.

Annual reports also provide shareholders and any other interested people with information about your business’s financial performance.

Need to make changes to your business outside of the usual annual reporting time? No problem! You can file an Articles of Amendment form or have Bizee take care of it for you.

What Happens If I Don't File an Annual Report or Miss the Deadline?

If you don’t file your annual report or miss the deadline, you put your business at risk. Your state could impose a late penalty fine and your business could lose its “good standing.”

Further delaying filing means your business could be dissolved by your state agency and struck off the register. If this happens, you’ll no longer have liability protection and can’t continue as an LLC or corporation.

How to File Your Annual Report

If you need to file an annual report for your LLC or corporation, you can normally do so online through your state’s website.

In addition to filing your annual report, you’ll also need to pay a fee — these fees vary from state to state and could range between $50 and $400.

Some states will also require you to file other business documentation if important details of your business have changed.

When Is Your Annual Report Due?

In some states, annual reports need to be filed on a predetermined date for all entities regardless of the date of formation. Other states require the annual report to be filed on the anniversary date of formation.

The due dates for LLC and corporation annual reports vary from state to state. You can find your filing date on your state’s website.

Business and Financial Annual Reports

In addition to formally filing a corporate annual report, you may also need to produce business and financial reports for investors, directors, managers and other stakeholders.

Although there aren’t any “legal” requirements for what these reports should contain, there are certain conventions for what’s included.

Businesses exist to make a profit, so finances are usually at the forefront of business annual reports.

Whether you’re filing a formal annual report for your LLC, S Corp or

C Corp, or you’re creating other business and financial reports, it’s important to ensure that you understand exactly what’s required from you.

Bizee is the expert at making sure annual reports are perfect. Save yourself the time and effort of preparing and filing your annual report, and let us take care of things.

Need Help Filing Your LLC Annual Report?

Save the stress and free up time while avoiding missed deadlines, state fines and the risk of dissolution. Let Bizee handle your paperwork.

Place your order below and an Bizee representative will contact you to get the specific information required to complete and file the annual report in your state of formation.