subject: Annual Limited Liability Company Report Form [print this page] Annual Limited Liability Company Report Form
Every year, you must submit your annual LLC report to the IRS. Depending on how you elected your limited liability company to be taxed, you may have different forms you must submit to the IRS. LLCs taxed like corporations should file Form 1120, LLCs taxed like partnerships should file Form 1065, and LLCs with only a single member should file Schedule C with that member's own personal income tax form.
Your yearly filing to the state varies depending on the state you formed your LLC in and which (if any) states you have registered as a foreign LLC. Your state may not even require a yearly report. California, for example, only needs you to file every two years. There is typically a fee you must pay with your filing, and late reports will incur an additional fee. The date you must submit your return depends on state law and, in some cases, your own personal preferences. Generally you must file on a specific, state-set date or on the anniversary of your LLC's formation.
When your report is about to become due, your state's Secretary of State should mail you the form you must fill out and return. If you have not received this form and suspect a report is due soon, contact the Secretary of State to request it. Generally, you must supply the name and address of your LLC, the names and addresses of your LLC's members, and the name and address of the LLC's registered agent. These are the bareminimumrequirements; your state may request additional information, especially if the report is for your first year.
If you make any changes to the structure of your LLC, you may have to reflect this change in your filing. For instance, if you add or remove a member, you will probably not have to notify the state immediately, but you must reflect this change in your annual filing. Other types of changes, such as changing your registered agent, will likely require an immediate notification on a separate form. If you're not sure what information you include on your yearly report and what information you must tell the state immediately, contact your Secretary of State.
Ultimately, the requirements for your yearly LLC filing vary depending on your state. You should confirm all requirements before you submit your first filing. States are generally willing to work cooperatively with business owners to ensure that your report is filed correctly and on time. Take advantage of those in the Business Division of your state for help.
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