Deadline and Procedure
In Connecticut, file annual reports online between January 1st and March 31st. To file, create an account, follow instructions, and you’ll receive a filing number. The first LLC annual report is due the year after forming. For corporations, reports are due by the incorporation anniversary month.
Maintaining Good Standing
Registered businesses must file to maintain good standing status. This is important for proof if required by investors, lenders, customers, or vendors.
LLCs must file an Initial Report within 30 days of forming. Registering for free reminders, such as using Google Calendar, can help ensure you file on time.
Approximately 1 month before your LLC Annual Report is due, the Connecticut Secretary of State will send you an email reminder, but it’s advisable to set your own reminder as well.
Fees and Compliance
The filing fee for Connecticut LLC Annual Reports has recently increased from $20 to $80 for LLCs, LPs, and LLPs. Failure to file an accurate and timely report can result in a $500 per day fine.
The forms to register different types of businesses can be found at the Secretary of State’s website. For an LLC that is slated to last more than one year, filing an annual statement with the secretary of state each year is required.
Previously used CONCORD system was discontinued in June 2021, and Connecticut does not recognize series LLCs.
Filing Options
There are two options to file: either do it yourself through the online process or have an agent handle it on your behalf. Confirm agent information and review all information before filing.
Failing to file an annual report may inhibit operations or lead to administrative dissolution.
Consult attorneys on filing agreements and check with local offices on requirements to ensure legal compliance. Monitoring business health through Annual Report filings offers a valuable opportunity to assess an LLC’s performance, growth, and potential areas for improvement.