Every year, LLC company owners are required by the Connecticut State law to file for their LLC Annual Report.
In this case, filing an LLC Annual 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 Annual Report in Connecticut.
When to File Your LLC’s Annual Report?
The Annual Report should be filed every year from the time you filed your LLC initial report. The Annual Report must be submitted between the 1st of January and the 31st of March of every year. To avoid forgetting your Annual 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 Annual Reports, it’s due the following year 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 Annual Report is considered due between January 1, 2021 and March 31, 2021.
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.
The State of Connecticut provides a reminder to your LLC email address about a month before the date the filing is due. It is advisable that you set your own reminder In addition to the state reminder as a way to ensure you do not forget.
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
- Connecticut 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.
- NAICS code
- 80 USD filing fee.
What Will Happen If I Don’t File My Company’s LLC Annual Report?
Not filing your company’s LLC Annual Report in Connecticut will result in the loss of good standing of your company and eventually the administrative dissolution of your company by the State of Connecticut.
Where to File the LLC Annual Report?
Fortunately, filing your company’s LLC Annual Report is now easier. You can only file your LLC Annual Report online with the Connecticut Secretary of State. More information on how to file the Connecticut LLC Annual Report is available here. Also, a reference guide for completing the Connecticut LLC Annual report is available in the link.
How to File Your LLC Annual Report: A Step-by-Step Guide
To help you file your company’s LLC Annual Report online, this article has outlined the steps of the process. Check them out below.
Step 1: Go to the Business Dashboard on your CT.gov account and choose the Register your business option, if you do not have an account, you’ll have to open an account on the CT.gov account opening webpage
Step 2: Choose the All business services in the top menu, click on the file annual report option.
Step 3: Search for your LLC name if it’s not appearing on the current page, click on the name of your LLC and then select next.
Step 4: Review the information given about your LLC, choose the edit option if you would like to make any changes. If you feel the information is correct or the changes have been made, choose the verify option and then click on the Continue to Acknowledge button.
Step 5: Once you’re done, you need to enter your billing information and then proceed to make the payment.
Your Annual Report will be submitted after you have successfully made the payment and you will see a message congratulating you on filing your annual LLC report in Connecticut after paying.
What Is the Difference Between an LLC Annual Report and LLC Partner Tax?
Most company owners mistake LLC Annual 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 Annual Reports and Change Services
Aside from filing your company’s LLC Annual Report, here are the other business documents that can be generated through the Annual 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 Annual Report or paying taxes.
Of course, aside from these, some of the other tasks you can perform in the Annual 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 Annual Report in Connecticut. 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 Annual 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.