Every 2 years, LLC company owners are required by the Alaska State law to file for their LLC biennial report.
In this case, filing an LLC biennial report is essential for compliance and maintaining a good record with the government. Likewise, another reason for this is to avoid the dissolution of your LLC company.
With that said, this article will guide you through the steps of filing your biennial LLC report in Alaska.
When to File Your LLC Biennial Report?
The biennial Report should be filed every two years from the time you filed your LLC initial report. The biennial report must be submitted by the 2nd of January of every other year. To avoid forgetting your biennial report filing, you must always include it on your calendar of activities.
For example, you can create a reminder on your phone or calendar to help you remember around one to two months before the due date to avoid missing the filing.
On the other hand, if it’s your first year to file for LLC biennial reports, it’s due two years after the approval of your LLC application.
For example, suppose your company was established and certified on September 9, 2020. In that case, your first LLC Biennial Report is considered due on January 2, 2022.
Similarly, if you want to double-check the date when the state approved your LLC, it’s best to check your LLC’s Certificate of Formation. However, if you don’t want to go over the files again, you can call a number provided by the state to confirm: Alaska Division of Corporations; 907-465-2550.
What Are the Requirements You Need to Prepare?
Before you file, make sure that you have these documents or information prepared. Preparing these documents beforehand can help prevent any delays during the process.
- State-issued LLC entity number
- Date of organization
- Alaska Business EIN (entity identification number)
- Other important details about your company, such as:
- Your registered agent
- Its registered office address
- Officers/directors or partners updated contact information
- Insurance policy information including your proof of insurance, the insurance company’s name, the insurer’s name, and the policy date.
- Your signature and title if you are the one filing the report.
- 100 USD filing fee.
What Will Happen If I Don’t File My Company’s LLC Biennial Report?
Not filing your company’s LLC Biennial Report in Alaska will result in the administrative dissolution of your company by the State of Alaska. However, you’ll be given the grace of 1 month till the 1st of February for late submission after which you’ll be penalized with a fee of $37.50. If you continue to ignore all of these, the State would eventually dissolve your LLC.
Where to File the LLC Biennial Report?
Fortunately, filing your company’s LLC Biennial Report is now easier. You can file your LLC biennial report online with the Alaska Division of Corporation. Information on how to use the online filing system is available in this link. The state also allows for the submission of hardcopy through the mail. For this, you will download the forms on the Department of Commerce, Communication, and Economic Development biennial report page. Complete the form and then mail it to the address:
State of Alaska
Division of Corporations, Business, and Professional Licensing
P.O. Box 110806
Juneau, AK, 99811-0806.
You can also choose to drop the documents off by yourself at either of these addresses:
550 W 7th Ave, Ste 1500
Anchorage, AK 99501-3567
333 Willoughby Ave, 9th Floor
State Office Building
Juneau, AK 99801-1770
Note that hard copy fillings take between 10 to 15 days to be processed.
How to File Your LLC Biennial Report: A Step-by-Step Guide
To help you file your company’s LLC Biennial Report, this article has outlined the steps of the process. Check them out below.
Step 1: Go to the Alaska Division of Corporations: Biennial Report webpage.
Step 2: input your LLC Entity number and click on the “File online” option.
Step 3: Confirm your physical and mailing address and make changes if needed. Make any other changes if needed like the LLC members.
Step 4: Accept the terms of the page and input your name in full as well as your phone number. When you’re done, click “proceed.”
Step 5: After this, you’ll review the information you have given. You can go back to make edits or you can proceed to the payment section
Step 6: Once you’re done, you need to enter your billing information, phone number, email address and then click “Continue” to make the payment.
Your biennial report will be submitted after you have successfully made the payment and you will see a message congratulating you on filing your biennial LLC report in Alaska after paying.
Upon completing your online Alaska LLC Biennial Report, it’s immediately processed by the system. You can search for it on the Alaska Division of Corporation’s database here.
What Is the Difference Between an LLC Biennial Report and LLC Partner Tax?
Most company owners mistake LLC Biennial Report and LLC Partner Tax as being the same. Due to this misconception, they either miss filing one or the other. If you have multi-member LLCs, which means you have two or more owners, you must file for LLC Partner Tax.
Other Transactions You Can Do Under the biennial Reports and Change Services
Aside from filing your company’s LLC Biennial Report, here are the other business documents that can be generated through the biennial Reports and Change Services:
- Changing of registered agent/office
- Reinstating a business entity
- Closing a business
There are two possible reasons you might want to change your LLC’s assigned registered agent. First, you are dissatisfied with your existing agent and would like to change services. Second, you are your own agent and would like to get the services of a registered agent.
Regardless of the reason, you’ll need a registered agent for your company. This is because an LLC licensed agent plays a vital role in every company. In this case, your registered agent is the official representative of your company.
For example, suppose the state needs to contact your company for some legal matters. In that case, there should be an authorized representative where they can send legal documents.
- Reinstating a business entity
One reason for filing a reinstatement is that your LLC faced dissolution due to non-filing of the biennial Report or paying taxes.
Of course, aside from these, some of the other tasks you can perform in the biennial Reports and Change Services:
- File an amendment
- Business name search
- Change tax/Employer registration record
Finally, you now know how to file your company’s LLC Biennial Report in Alaska. Making sure you comply with this requirement is essential to avoid penalties or the dissolution of your company.
In this case, to avoid forgetting your biennial reporting, it’s best to organize your calendar. In fact, it’s recommended to set a reminder two months before your date of filing.
After all, as a business owner, it’s your responsibility to abide by the government’s ordinance to avoid penalties for your company.