Michigan LLC Annual Report: What It Is And How To File?

Every year, LLC company owners are required by Michigan State law to file for their LLC Annual Statement with the State of Michigan. 

In this case, filing an LLC Annual Statement is essential for compliance and maintaining a good record with the State of Michigan. 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 LLC statement in Michigan.

 

When to File Your LLC’s Annual Statement?

The Annual Statement should be filed every year from the time you filed your LLC initial report. The due date of the Annual Statement is the 15th of February of the following year. However, if your LLC was formed after the 30th of September, you wouldn’t file your LLC annual statement until February, of the other year. You can submit your LLC annual statement in the State of Michigan as early as 90 days before the due date which is usually the 15th of November of the year before the year of the due date.

If your LLC was formed and approved on August 9, 2020, your LLC Annual Statement deadline is due on the 15th of February, 2021, and also every year. If  your LLC was formed and approved on October, 10th 2020, your LLC Annual Statement deadline is due on the 15th of February, 2022, and also every year

To avoid forgetting your Annual Statement 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 Statements, it’s due the year after the approval of your LLC application. 

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.

 

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. 

  1. State-issued LLC entity number
  2. Date of organization 
  3. Michigan Business EIN (entity identification number) 
  4. 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.
  1. 25 USD filing fee.

 

What Will Happen If I Don’t File My Company’s LLC Annual Statement?

Not filing your company’s LLC Annual Statement in Michigan will result in the administrative dissolution of your company by the State of Michigan.

 

Where to File the LLC Annual Statement?

Fortunately, filing your company’s LLC Annual Statement is now easier. You can file your LLC Annual Statement online through the LARA Online filing web page. 

The state also allows for submission through the mail and in person. For submission through the mail, LARA will mail a preprinted copy of the Annual Statement to you about 90 days before the due date of your annual statement, complete it, and then mail it along with the payment for the 25 USD filing fee for the Annual Statement to the address:

Michigan Department of Licensing and Regulatory Affairs

Corporations, Securities & Commercial Licensing Bureau 

Corporations Division 

P.O. Box 30786

 Lansing, MI 48909

 

You can also submit in person by submitting the completed form and the payment to the address: 

2501 Woodlake Circle, 

Okemos, MI

Non-electronic filings are processed between 3 to 5 working days. However, you can pay for the expedited services which cost:

100 USD for 24-hour

200 USD for Same-day

500 USD for Two-hour

1000 USD for One-hour

 

How to File Your LLC Annual Statement online: A Step-by-Step Guide

To help you file your company’s LLC Annual Statement, this article has outlined the steps of the process. Check them out below.

Step 1: Go to the LARA online filing page, log in with your Customer ID Number and your PIN. You can request for the number/PIN through the link

Step 2: find a list of the forms that are available for filing online on the page.

Step 3: Select the Annual Statement and input the necessary information to complete the process.

Step 4: The last step will prompt you to enter your payment details in order to make the payment of the filing fee with a Credit/Debit card. After entering the payment details, you can then submit your LLC Annual Statement.

You can also take the help of professional services such as ZenBusiness or Legalzoom to help you as your registered agent.

 

Important Reminders

The State of Michigan will send a reminder to you or the registered agent of your LLC in the form of a preprinted copy of the Michigan Annual statement 90 days before the date your LLC Annual Statement is due. However, it is still advisable that you set your own reminder to reduce the chance of forgetting to the minimum.

 

What Is the Difference Between an LLC Annual Statement and LLC Partner Tax?

Most company owners mistake LLC Annual Statement 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 Statements and Change Services

Aside from filing your company’s LLC Annual Statement, here are the other business documents that can be generated through the Annual Statements and Change Services:

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 Statement or paying taxes.

Of course, aside from these, some of the other tasks you can perform in the Annual Statements and Change Services:

  • File an amendment
  • Business name search
  • Change tax/Employer registration record

 

Conclusion

Finally, you now know how to file your company’s LLC Annual Statement in Michigan. 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 Statement, it’s best to organize your calendar. 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.