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A Guide to Florida LLC Annual Report

When you form a new business in Florida, there are certain annual requirements that certain businesses need to fulfill. A Florida LLC annual report is one such requirement of the state and it has to be filed annually. The annual report is a type of business document where a company needs to provide specific information as stated by Florida Statutes or by the division of corporations. This guide has been created to provide you with an insight into what an annual report is, how you can file such a report and the Florida LLC annual requirements.

Florida LLC Annual Report

An annual report is defined as a document that business entities like public corporations need to provide to their shareholders annually. This type of document describes the business operations and existing financial status of the company. An annual report has become a regulatory requirement for different forms of business entities after the Wall Street Crash of 1929.

A business annual report may differ from one state to another in terms of information required. It may also vary according to the type of business filing, e.g., a Florida LLC annual report will contain information that is different from that of a traditional C corporation. An annual report is also known differently in various states like a Biennial Report in Iowa, an Annual Franchise Tax Report in Arkansas, a Periodic Report in Colorado, a statement of information in California, and a Public Information Report in Texas.

What is a Florida LLC annual report?

Most forms of businesses have to file an annual report in Florida as it contains specific information pertaining to the said business entities. So, if you are planning to form a limited liability company then you will have to file a Florida LLC annual report. The report has to be filed by foreign limited liability companies as well and is governed by the 2019 Florida Statutes, Title XXXVI – Business Organizations.

An annual report is one of the most important Florida LLC annual requirements and it contains specific business information based on the type of entity filing it. Some of the important information contained in this report pursuant to FL Stat § 605.0212 (2019) includes:

  • The name of the domestic or foreign limited liability company
  • The street address of the Florida LLC or its principal office address as well as the mailing address
  • The date of formation of a domestic LLC or a foreign limited liability company along with the jurisdiction of its formation
  • The name and address of the Florida registered agent as hired by the LLC
  • The federal employer identification number (FEIN) or Employer Identification Number (EIN) is crucial towards filing a Florida LLC annual report
  • The name, title, and address of at least one person managing the affairs of the domestic or foreign LLC. In most cases, the information pertains to a member

It is important to ensure that the information provided in the annual report is current and has to be delivered to the division of corporations for filing along with the appropriate Florida LLC annual report fee.

Why is filing Florida LLC annual reports important?

It is important to not only file a Florida LLC annual report but also file it on time. In the state of Florida, it is mandatory for a domestic or foreign LLC to file an annual report and it has to be filed irrespective of whether there are any changes in name, address, or ownership of the LLC. There are several reasons why filing of the annual report is important and some of them are:

  • It is one of the most important Florida LLC annual requirements according to 2019 Florida Statutes
  • Title XXXVI – Business Organizations, Chapter 605 – Florida Revised Limited Liability Company Act 605.0212 – Annual Report for Department.
  • The report is used for confirming or updating business information in the records of the Florida Department of State, Division of Corporations.
  • Filing a Florida LLC annual report each year is important as it will help a business entity or LLC to maintain an “active status” in the state.
  • A limited liability company, both domestic and foreign, will be subjected to a heavy penalty or late fee for not submitting on time and the company may also be dissolved if outstanding reports are not filed within a stipulated period of time.

If you require any help regarding Florida LLC annual requirements like annual reports then our team of expert professionals can provide you with necessary guidance.

Filing a Florida LLC Annual Report

A Florida LLC annual report is one of the most important requirements towards annual maintenance of a limited liability company in the state. There are several aspects that you need to consider like the Florida LLC annual report fee and the date of filing as this will help in making the process of filing the report hassle free. Let’s look at these aspects in detail.

How do I file LLC annual reports in Florida?

The State of Florida requires you to file a Florida LLC annual report pursuant to FL Stat § 605.0212 (2019) with the Division of Corporations. You will have to file your LLC annual report using the Sunbiz portal of the Department of State, Division of Corporations. It has to be filed online and the portal can be accessed using the 6 or 12-digit number that has been assigned to your limited liability company when it was registered with the Division of Corporations.
Alternatively, We at IncParadise can help you file the annual report online along with the Florida LLC annual report fee. When you file an annual report through us, the process is quick and easy and as a result, it saves you precious time. This is not all, IncParadise can help with filling of the annual report in such a way that you can avoid making any mistakes and ensure your annual report doesn’t get rejected by the Division of Corporations.

Save time by Ordering Your Florida Annual Report from here!

Florida LLC Annual Report Fee

The fee for filing a Florida LLC annual report for a domestic entity as well as a foreign LLC is $138.75. If you are filing online then payment of the fee can be made using a debit card, a credit card, as well as a Prepaid Sunbiz E-File Account. You can also use a check or money order to submit your Florida LLC annual report fees.

When is the due date to file your LLC annual report?

If you are filing a Florida LLC annual report for the first time then the filing date is between January 1 and May 1 of the year following the year in which the domestic LLC was formed or the foreign limited liability company received its certificate of authority.

For Example: If you have formed a domestic or foreign limited liability company on September 15, 2021 then according to Florida LLC annual requirements, your first annual report will have to be filed between January 1 and May 1, 2022.

You will have to submit subsequent annual reports by May 1, each year pursuant to FL Stat § 605.0212 (2019).

As a client of IncParadise, you will have access to our entity management software, which will send you email notification for filing Florida Annual reports more than a month prior to the due date. As a result, you will be able to order it using our system in advance and prevent any late filing penalties.

Consequences of Late Filing of Florida LLC Annual Report

A Florida LLC annual report is due on January 1st of each year and you can file it till May 1 of the same year. If you fail to submit the annual report within the due date then it will result in a penalty of $400. You will then have to file with a Florida LLC annual report fee of $138.75 plus $400, which is $538.75. The filing date with late fee is the third Friday of September each year e.g., 3rd Friday of September 2021 was the 17th while that of 2022 is 16th of September.

If you fail to file a Florida LLC annual report by the third Friday of September then the limited liability company in question will be administratively dissolved or revoked in the state department records by the fourth Friday of the same month (September). Once your LLC becomes a revoked or dissolved entity, you can reinstate it by filing a reinstatement application and paying all outstanding fees, which includes Florida LLC annual report fee, late fee, and the reinstatement fee of $100. On filing reinstatement, the administratively dissolved or revoked limited liability company will regain active status.

Why is using a Florida Registered Agent Service a Better Option?

When you form a limited liability company in Florida, it is mandatory to hire a registered agent as dictated by Florida Statutes, FL Stat § 605.0113 (2019). A reputable registered agent like IncParadise will provide many benefits especially when it comes to filing a Florida LLC annual report. Some of the benefits you can enjoy are:

  • When you hire registered agent services, you will be notified of the filing date of the annual report so that you never miss your due date. This will help you to save on late fees and ensure you enjoy good standing
  • A good RA service will ensure your business is in compliance with all Florida LLC annual requirements
  • Florida registered agents like IncParadise offer the service of helping business owners or members to directly file Florida LLC annual report from their website and this will help you save time
  • A Florida registered agent can also guide you regarding information required for filing a Florida LLC annual report and ensure the information is correct, so that the annual report gets filed and is not rejected.
  • In a worst case scenario, if your limited liability company has already been revoked by the state department then a registered agent can help you with the reinstatement process. They can also provide information on the various Florida LLC annual report fees, and other fees to be paid for making the entity active.

There are several other benefits of having a registered agent in Florida including service of process and providing guidance towards fulfilling all annual business requirements in the state.

Choose one of the top registered agent services in Florida!

Need Any Assistance in Filing Your Florida LLC Annual Report?

There are different types of Florida LLC annual requirements including other annual compliances that a new and existing limited liability company has to maintain in the state. If you choose us as your registered agent in Florida; you will be able to use our services to ensure that your Florida LLC annual report is always filed on time with the division of corporations.

We also offer many additional services for Florida business like DBA filing, foreign qualification, and obtaining EIN.

Need assistance with filing Florida LLC Annual Reports?