Every year LLC company owners are required by the New Jersey 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 LLC report in New Jersey.
When to File Your LLC’s Annual Report?
The Annual Report should be filed on the month when your LLC’s establishment was approved. 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 your company’s designated month to avoid missing the filing.
On the other hand, if it’s your first year to file for LLC annual report, it’s due one 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 on September 30, 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. However, if you don’t want to go over the files again, you can search for this information on the state of New Jersey’s website using your LLC’s name.
Although the Division of Revenue and Enterprise Services typically sends a courtesy mail reminding you of your obligation, it’s best not to rely on it too much. In fact, whether they send reminders or not, you must file your LLC Annual Report promptly.
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
- New Jersey 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.
- 75 USD filing fee
Previously, the New Jersey LLC Annual Report fee was priced at only 50 USD per year. However, the Annual Report fee was raised to 75 USD when Assembly Bill 5607 became effective on July 01, 2019.
What Will Happen If I Don’t File My Company’s LLC Annual Report?
Not filing your company’s LLC Annual Report for two consecutive years will result in the administrative dissolution of your company by the Department of Treasury. Moreover, you should note that even if your company did not make any profit for that year, you are still required to file.
Where to File the LLC Annual Report?
Fortunately, filing your company’s LLC Annual Report is now easier. In this case, you will need to file your LLC annual report online with the Division of Revenue and Enterprise Service. For this, you can log in to their website. It’s best to note that nowadays, filing is accepted only via online transactions.
How to File Your LLC Annual Report: A Step-by-Step Guide
To help you file your company’s LLC Annual Report, this article has outlined the steps of the process. Check them out below.
Step 1: Go to the DORES website.
Step 2: Click on the “File Annual Report” tab. You will be directed to the Annual Reports and Change Services page.
Step 3: There will be three options on that page: Business Filings, Other Tasks, and Additional Resources. In this case, you need to go to “Business Filings,” then click the option “File an Annual Report” located under it.
Step 4: On this page, you will encode the following:
- New Jersey Business Entity Identification Number – it’s a set of DORES-issued numbers found in your Certificate of Formation
- Business Types – you will need to select LLC from the menu
- Formation/ Incorporation/ Authorization Date – you’ll need to encode the exact date stamped on the Certificate of Formation of your LLC
When you’re done, click “Next.”
Step 5: After this, the filing process will begin. You will be asked to encode essential details about your LLC, including the following:
- Your company’s registered agent – this is the person authorized to transact on behalf of your company.
- The mailing address of your registered agent – updating or changing of your LLCs registered agent incurs a fee of 25 USD.
- Officers and members – This lists the names of your LL members. There is a provision for additional members if you need to add new officers to your company. For this, you just need to click on the option “Add New Officer.”
- Your LLC registered address – Check your company’s indicated address. If it’s still the same, you can click “Continue.”
- Workers Compensation Insurance – To comply with New Jersey’s law, you need to have workers’ compensation insurance as an employer.
For this, you just need to type in the relevant information, such as the insurance company’s name, your policy’s date, and your policy number. However, if you don’t have employees, you can skip this part.
Step 6: Once you’re done, you need to review all your provided information in the LLC Annual Report online form. If you found typos or other errors, you can correct them by clicking on “Edit.”
Next, you need to type in your name and title, address, mobile or landline number, and click “Continue.”
Here you will find a list of documents that you want to purchase. Among these are the following:
- Status Report – This document verifies that your company is currently active and with a clean record with the New Jersey State. It typically costs around 5 USD. However, you are not compelled to purchase these documents. Most filers skip this part.
- Certificate of Standing – This is a document certifying that your company has a good record with the state. You usually need this document to open your New Jersey LLC in other states or apply for a loan. This document costs 50 USD for the short format, 100 USD long with officers, and 100 USD long-form with history.
Step 7: Once you have verified all the information, you can check out and pay for the filing process. In this case, you can use your credit card or eCheck for paying. For this, you need to select “Credit Card” or “Echeck” from the menu and click “Continue.”
You will be then prompted to type in your contact details, including your name, address, email, and phone number. Once you have typed in everything, click “Next.”
After this, you need to type in your card information, such as the payor’s name, account number, etc. Then, click “Next.”
Finally, you will see a message congratulating you on filing your annual LLC report in New Jersey after paying.
Upon completing your online New Jersey LLC Annual Report, it’s immediately processed by the system. You can download a digital copy of your filed Annual Report. You must download the document copy and keep them in your records.
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. The filing fee for the LLC Partner Tax is 150 USD per LLC member annually.
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
- Changing of registered agent/office
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.
The process of changing a registered agent is the same as filing an annual report. Similarly, there is a filing fee of 25 USD.
- 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.
So, suppose your LLC company is put on the inactive list. In that case, you can file for reinstatement in the Division of Revenue and Enterprise Services of the New Jersey State Treasury. In this case, you will need to pay a reinstatement fee of 75 USD.
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
On the other hand, if you need to contact the New Jersey Division of Revenue and Enterprise Services directly, you can reach them through phone or their office. Here are their details:
New Jersey Department of Treasury
Division of Revenue and Enterprise Services
Office Hours: Monday through Friday, from 8:30 AM – 4:30 PM.
Contact Numbers: 609-292-9292 and 609-292-6748
Address: PO Box 252 Trenton, NJ 08625-0252
Finally, you now know how to file your company’s LLC Annual Report in New Jersey. 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.