Florida LLC Annual Report (Everything You Need to Know)
If you are a business owner in Florida, understanding the annual report for LLC is essential because failing to honor this commitment may lead to some serious consequences.
With over a decade of experience as legal consultants and attorneys, we have immersed ourselves in extensive research and relied on our personal perspectives to provide valuable insights and guidance in the field.
One of the most crucial aspects of managing a successful business is dealing with an annual report on time, I can attest to this after years of working on business creation and managing many LLCs.
Quick Summary
- The Florida LLC annual report is a form that must be filed each year with the Department of the State.
- The main purpose of the annual report is for the LLC to show its active status.
- To file this annual report, you need to show mandatory documents and pay a certain fee. If you miss filing it, you must face a penalty.
How Do I File an Annual Report for LLC in Florida?
To file a Florida LLC annual report, you will need to file online with the Florida Secretary of State's Division of Corporations.
More precisely, to file a Florida LLC annual report, you will need to do the following:
Step 1: Go to SunBiz.org
Click on 'Start Now' and select 'Annual Report - Domestic Limited Liability Company (LLC)' right after that [1].
Step 2: Enter Your Document Number
Fill out the form with all required business information, including your company's name, mailing address, and document number.
Step 3: Follow the On-Screen Instructions
All of the on-screen instructions will guide you through your annual report filing.
These include:
- Business Entity Number (assigned to you by the Florida Division of Corporations)
- Employer Identification Number (EIN)
- Registered agent information
- The business entity's current email address
- LLC's filing history with the Florida Department of State, if applicable [2]
- Signature section for authorized person/agent submitting the annual report
- Annual report fee
After you've completed the form, submit it online, make your payment, and you will then be all set.
Alternatively, you can file your annual report online at the Florida Division of Corporations' website.
What Are My Payment Options to File an Annual Report?
Your payment options for filing an annual report usually include credit/debit cards, electronic funds transfers, or check payments.
Commonly used payment options available to a Florida LLC are:
- Online Payment Options
- By Mail or Courier
Let's take a closer look at each payment option below.
Online Payment Options: You can submit your payment online through SunBiz.org using a credit card, or debit card, or by having a prepaid Sunbiz E-File Account.
By Mail or Courier: If you choose to pay by mail, you will need to send a payment voucher with your check or money order. You can find the payment voucher on SunBiz.org.
Make sure to include your document number on the voucher.
Related Article: Best LLC Service in Florida
What Can I Change on the Annual Report?
There are a few things you can change on the Florida LLC annual report, including:
- Name and Address of Florida Registered Agent
- Manager/Member/Partner Information
- Principal office address and a mailing address for the business entity
- Federal employer identification number
Even if there are no changes in your company information, you must file the report.
What Happens if I Don't File the Annual Report?
If you fail to submit a Florida LLC annual report on time, the Florida Department of State will be notified, and your company could face fines for not complying with state law.
If you don't file this report, you will be fined a $400 late fee.
Furthermore, if you don't submit the report by the third Friday of September, you will not be able to conduct business, and the Florida Department of State will dissolve your company.
The state will send you reminders if you submit your Articles of Organization online.
They may also send reminder notifications to your Florida Registered Agent unless you've chosen to be your own registered agent.
So, make sure to file your report along with all the legal documents on time to avoid a costly late fee and possible administrative dissolution.
Related Articles:
- How to Set Up an LLC in Florida
- Cost of Florida LLC Formation
- Why Can’t I Reinstate My Florida LLC
- How To Dissolve An LLC In Florida
What is Florida LLC Annual Report?
The Florida annual report is a yearly report submitted by an LLC to the Florida Division of Corporations.
Being yearly means you need to file your annual reports on time each year, before May 1, even if there are no changes in the company.
The purpose of this document is simple: it includes all the required business information about your Florida LLC. Some of the 'required' information are:
- Entity name
- Mailing addresses
- Business address
- Name and address of the registered agent
- Purpose of Business
- Shares issued by the company
- Names, titles, residences, and business addresses for all managers/members (if applicable)
- Date each of the managers was appointed to a company position
FAQs
Does the State of Florida Require Initial Reports?
The state of Florida doesn't require initial reports.
What Happens if I File My Florida Annual Report After May 1?
If you've filed your Florida annual report after May 1, a $400 penalty will be charged to your LLCs.
How Long Does It Take for My Florida Annual Report to Be Processed?
If you file your annual report online, it will be sent immediately to the state of Florida for processing. If you mail in your payment, your report will be processed in the order it was received.
How Much Does the Florida Annual Report Cost to File?
The filing fee for the Florida annual report is $138.75 for an LLC.
If My Business Has Closed, Do I Still Need to File the Annual Report?
If your business has closed, you do not need to fine the annul report.
Annual reports are typically required for active businesses, and once a business has ceased its operations, filing obligations are usually no longer applicable.
What Information Is Typically Required to Complete the LLC Annual Report in Florida?
When completing the LLC annual report in Florida, you typically need to provide the LLC's name, principal address, names and addresses of members/managers, and an officer's signature. Annual report fees are required, and the report is typically filed online.
Florida LLC Annual Report
The Florida LLC's annual report showcases financial activities and compliance with state requirements, avoiding penalties or dissolution due to late filing.
To avoid costly consequences of noncompliance, make sure to file your report before May 1 and seek out legal advice if you have any doubts.
If you require additional assistance, we recommend hiring IncFile can file the annual report for you.
References:
- https://dos.myflorida.com/sunbiz/
- https://dos.myflorida.com/
