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Your state will require you to file an annual report in order to keep your LLC in compliance, your contact information updated, and your LLC in good standing. Fees and due dates vary by the state. Once your LLC is formed, paperwork with the state is not over. As a part of the ongoing requirements for your LLC, your state requires that you file an annual report and pay a filing fee. The annual report can take many names, such as the annual report, annual statement, statement of information, periodic report, biennial statement, decennial report, and many more, and not all annual reports are annual. Some may be required to file every year, some every two years, and some may be lucky enough to only have to file every ten years. It just depends on your state and their requirements. Since most states refer to the report as the 'annual report,' we'll do so as well, just for simplicity. The purpose of the annual report is to keep your LLC in compliance and in good standing. Additionally, it keeps the state updated with your LLC's contact information. If you fail to file your annual report, the state will automatically dissolve or shut down your LLC. Your annual report will include your LLC name, your office address, your registered agent information, and an LLC number from your Secretary of State. The LLC number is just a number that your state uses to reference and identify your LLC. How do you file and pay your annual report? Generally, there are two ways you can file your annual report with your state: You can file it by mail, or you can file it online. If you file by mail, you will fill out your annual report on your computer, or fill it out by hand. Next, you'll make a copy for your business records, and then mail the original to the state, along with a check or money order to pay the filing fee. If you file online, you'll prepare and submit your annual report on the state's website and pay the filing fee with a debit or credit card. Regardless of what option you choose, it's important that you file your annual report on time. Most states will send you a reminder to pay and file your annual report prior to the deadline, but not all of them do that. For this reason, we recommend that you keep a repeating reminder on your calendar. What are the consequences for not filing your annual report? If you don't file your annual report on time, the state will charge you a late fee. If you continue to ignore this requirement, the state will automatically dissolve and shut down your LLC. Some states are stricter than others, so it's best not to push your luck here. Where do you get your annual report? If you have formed an LLC, but are not sure how to get your annual report from the state, you can visit your state's website and contact them for guidance. The links to the various states' websites can be found on our website. If you hired a company to form your LLC, then you need to verify whether they will file it on your behalf, and charge you to do so, or if...
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