Filing an LLC’s annual report is essential for maintaining compliance in Illinois. The report must be submitted by the first day of the LLC’s anniversary month, with the option to file up to 60 days early. The filing fee is $75. Failure to meet this deadline can result in a $300 late fee and the risk of administrative dissolution.
Preparing to File
Before filing, you should collect the following information:
- Business address
- Registered agent details
- Member information
Once you have this information, you can fill out Form LLC-50.1 and submit it online with the required fee. If your LLC was dissolved, you’ll need to mail the form.
Additional Considerations
- Corporations also have to file an annual report with an additional franchise tax of a minimum of $25.
- For Illinois charities, the annual report is due six months after the fiscal year-end, typically on June 30, with the same filing fee and possible late penalty.
- Foreign LLCs operating in Illinois must adhere to the same annual report filing requirements.
Filing Your Report
To file the annual report online:
- Visit the Illinois Secretary of State’s website.
- Complete the necessary forms with accurate information to avoid issues.
For mail submissions or if your LLC was administratively dissolved, you must physically mail Form LLC-50.1.
Maintaining the good standing of your LLC requires adherence to filing deadlines and understanding the specific taxes related to your LLC’s tax structure and business activities. Legal guidance from a business attorney may be necessary for your specific situation.
Reminder: Finding your LLC’s anniversary date can be done through your approved Articles of Organization or by searching the state website. You can submit your report as early as 45 days before the 1st day of your anniversary month.