LLC Yearly Filing Requirements

The IRS requires a yearly filing depending on the tax status of your limited liability company. LLCs that elect to be taxed as corporations file Form 1120, partnership LLCs file informational Form 1065, and single-member LLCs taxed as sole proprietorships submit no additional filings.

At the state level, however, each state has different annual filing requirements for its LLCs. Not all states even require that LLCs file an annual report; California, for example, requires that an LLC file its Statement of Information biennially — every two years. The Secretary of State will generally charge a small fee along with the report filing, and the fee may rise in the event of a late submission. The due dates for annual or biennial reports vary depending on the state, but the two common rules require that the LLC file on a specific date or on the anniversary of its formation.

Many states require an annual filing even from foreign LLCs — those that are based in another state but conduct business in that state.

The information that must be included in your yearly report also varies from state to state. You should receive a notice from the Secretary of State informing you of your filing requirement when the due date is approaching. If you do not receive the form, contact your state’s Corporation Division — or whichever entity handles LLC filings — for information. In general, your annual filing must include the name of your LLC, your LLC’s business address, the names and addresses of the LLC’s managers and/or members, and the name and address of the LLC’s registered agent for service of process. Other information may be required.

Changes to your LLC’s structure are also usually reported in your annual filing. You are typically not required to update your state when you add or remove a member, but you are required to reflect any changes in the report. Some modifications, such as a new registered agent, must be reported immediately on a separate form. This also varies from state to state.

Ultimately, your state annual filing requirements are variable and should be confirmed with the appropriate agency. Because these reports are informational in nature, the recipient of your filing should be happy to work with you to ensure that your form is filled out correctly. Ask for help if you are confused by any part of the report or need any assistance.