If you operate an LLC in Florida, it is important that you file an annual report with the state. Even if your LLC is newly formed, a report must be filed with the Florida Division of Corporations each year by May 1st.
Filing your report is not a very burdensome or complex process. The main purpose of the annual report is to either confirm or update your business information with the state of Florida and continue its good standing. Apart from the information about your business, such as the name, address, and registered agent, there is a $138.75 filing fee that must accompany your report.
While the report is relatively simple to complete, it is important that you pay attention to the filing date. Failing to file your report carries consequences for your LLC, which can include dissolution. If your Florida LLC is dissolved, it won’t be allowed to conduct business operations in the state or have legal standing in courts. While there is the option to reinstate your LLC, there are penalty fees and additional applications required before good standing can once again be achieved.
What to Know About Your Annual Report
If you operate an entity in the state of Florida, you are required to file an annual report. Be aware of the following annual report details:
- Reports must be filed with the Florida Division of Corporations.
- Filing must be done at the Florida Division of Corporations website.
- All annual reports are due by May 1st of each year.
- Each report must be accompanied by a filing fee. The Florida LLC fee is $138.75.
Making Changes to Your Annual Report
In the event that you need to make changes to the information in your annual report, file an amendment with the state. It is important to keep your business information up-to-date. However, there are certain changes that do not require an amendment and can simply be updated with your next annual filing. These changes include:
- Name and address changes of any members or managers.
- Name and address of your registered agent.
- Principal office address.
- Federal Employer Identification Number (EIN).
How to File Your Florida Annual Report
When it is time for you to file your annual report, you must do so online at the Florida Division of Corporations site. The following will be required to complete your online filing.
Business Entity Number: Your entity number is assigned by the Florida Division of Corporations. This number is present on your annual report notice to file. There is also the option of searching this number online at their website by entering your company name.
Employer Identification Number (EIN): Your Federal Employer Identification Number is the unique nine-digit number issued to your business by the IRS. In some circumstances a company is not required to have this number. If that is the case for your company, an EIN is not necessary when you file.
Accepted Payment Method: There is a filing fee associated with your annual report each time you file. The payment methods accepted by the Division of Corporations are debit cards, credit cards, check, money order, or your Sunbiz e-file account.
When you are ready to file, choose the Sunbiz Annual Report Portal. First, you will be asked to enter your business entity number. Second, review and confirm the information listed for your business, such as name, EIN, email, principal and mailing address, registered agent, and additional information.
Failing to File Your Florida Annual Report
In the event that you fail to file an annual report, you will be assessed a $400 fee. There is no repeal or extension option available for a failure to file fee. Additionally, if your LLC fails to rectify the missed annual report filing, the Florida Division of Corporations has the option to administratively dissolve your company.
Some individuals are comfortable completing these annual report steps on their own each year. However, there are services that offer assistance to those who do not wish to worry about it or prefer the expertise of an attorney. Our LLC Services take care of each step associated with your company’s annual report, so that you can focus on other things and never have to worry about your Florida LLC’s good standing.