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

Forming an LLC is generally a good idea if you’re starting a business. If your business is based in Utah, then you have to file your LLC with the Utah state government. That way, you’re legal to operate and you avoid unnecessary fines and penalties.

However, if it’s your first time to form an LLC, then you need to know that it will involve quite a bit of paperwork. And that paperwork doesn’t end once you’ve formally established your LLC. To maintain the good standing of your Limited Liability Corporation, you have to periodically send in more paperwork.

These paper works include filing your LLC Annual Renewals. Utah law requires all LLCs based in Utah to file an Annual Renewal with the Division of Corporations and Commercial Code of the State of Utah.

What is an LLC Annual Renewal?

An LLC Annual Renewal is a report you file every year, and it’s meant to furnish the state government with the crucial details regarding your LLC. This report should include any updated info or changes that may have happened since the last filing period. As the Annual Renewal contains crucial data, it’s also sometimes referred to as a statement of information.

Every LLC in most states has to submit its Annual Renewals. The required information may change a bit depending on the state, but usually, the report will contain the following information:


  • The name of the LLC
  • The main business address of the LLC
  • The names of each LLC member (owner), and their addresses
  • All the crucial ID numbers for the LLC, such as the state entity number
  • The main purpose of the LLC
  • A list of authorized signatories
  • Information regarding your registered agent 

Filing Options

In the State of Utah, Annual Renewals can be filed online, or through the mail. Filing through the mail involves downloading and completing a paper form of the Annual Renewal. If you need to make changes to the information of your LLC, you’ll also need to download the form for registration information change. These forms will then be mailed along with a check of the filing fee that is payable to the State of Utah to the address:

Utah Division of Corporations & Commercial Code

P.O. Box 146705

Salt Lake City, Utah 84114-6705

 

The good news is that you don’t have much to pay, as the cost of the Annual Renewal in the State of Utah is 20 USD only. However, it may cost more if you fail to file the renewal on time, as it may result in a penalty fee of 10 USD and also the dissolution of your LLC. You’ll then have to spend money, time, and effort to reestablish the LLC.

Filing the Annual Renewal helps to make sure that your LLC is compliant with all state regulations. That should keep your LLC in good standing with the Utah state government, ensuring that your business enjoys all the LLC benefits and protections.

Deadlines

If you’re a member (owner) of a Utah LLC, you have to ensure that you send in these Annual Renewals on time. Your LLC annual renewal is due on the date your LLC was formed/approved by the State of Utah. You can submit your Utah LLC Annual renewal starting from 60 days before the date your LLC was formed/approved.

Your LLC’s first Annual Renewal is required for the year right after the LLC’s year of formation. For example, let’s assume your LLC was formed on January 27, 2021. Your first Annual Renewal will be due by January 27, 2022.

To keep you from forgetting, the state helpfully sends out postcard reminders about 60 days before the date your LLC was formed/approved. These reminders will be sent to the address of your registered agent you listed on your application when you filed the Certificate of Formation. This is a great step by the State of Utah. However, it is advised that you set your own reminder to ensure you do not forget to submit your annual renewal.

Required Steps

It’s easy since you only have to go online. Here are the detailed steps you need to take to file your Utah LLC Annual Renewal:

  1. Go to the Utah Annual Renewal filing portal.
  2. Input your LLC renewal ID and your LLC entity number. These numbers will be on the postcard reminder that the State will send to your registered agent.
  3. Follow the instructions on the screen and input or update your LLC information.

  4. Make all the necessary changes to your details as required.
  5. You’ll be required to make a payment of the 20 USD filing fee that the State Charges.
  6. The next page will confirm that you’ve submitted your Annual Renewal for Filing and have made the payment.

Again, just make sure you do all this on or before the date your LLC was formed/approved.

Who Should Do This Task?

Basically, the right person to do the task is the person with access to the necessary information that must be included in the Annual Renewal. This can be a member or LLC officer. It can be someone that the LLC authorizes to file on its behalf.

Professional Assistance

It’s very possible that you can foist this task to professionals, such as the online service provider that helped you with the LLC formation procedure and provided you with its registered agent services. This may be part of a package (usually the medium or premium package), though it may be available as an extra service for a fee with the basic formation package.

This does save you a lot of time and tedium. Plus, you can concentrate on your business while the service deals with all the necessary renewal filing.

In addition, the service provider can maintain your privacy, as it will take care to submit only the absolutely required information. The privacy benefits may include the following:

  • The service provider can list their contact information, so that you won’t have to file your residential address and personal smartphone number.
  • The service provider will also list only their IP address. This limits the connection between your smartphone, personal PC, and LLC work computers. That way, advertisers can’t track you online.
  • In case that the renewal asks for bank and credit card information (when the filing suddenly comes with a fee), then the service providers also furnish their own bank and credit card information. You still protect your own bank and credit card info.  

An online service provider charges much more reasonable rates, compared to what a lawyer might charge. A reputable service provider can also file the Annual Renewal as soon as possible, so you can be sure that it won’t be late and your LLC won’t suffer any fines and penalties (such as dissolution). You can check our top brands such as ZenBusiness or Northwest Registered Agent.

There’s no uniform fee as to what a service provider will charge for filing the Utah LLC Annual Renewal. The best brands in the business usually charge $100 or so.

Conclusion

If you’re the sole owner of the LLC and you have the time to spare, then it’s really no trouble doing this yourself. The main risk is that you may make a mistake, by entering the wrong information or by pressing the wrong keys. A professional with extensive experience with this task will be very unlikely to make those mistakes.

Still, it’s all up to you. Just make sure you get the Annual Renewal filing done for the year!