Like the majority of states, Connecticut mandates businesses to submit yearly reports. A legal document known as an annual report offers up-to-date details on a company’s operations, financial standing, and management structure. The yearly report’s goal is to make sure the state has correct information on every company doing business inside its borders.
All Limited Liability Companies (LLCs) in Connecticut are obliged to submit an annual report. The report must be submitted before the end of the month that marks the LLC’s founding anniversary. For instance, your first annual report must be submitted by June 30, 2022, if your LLC was established on June 15, 2021. The report is then due on the same day each year after that. Late costs and even the LLC’s dissolution may come from failing to submit the report on time.
In Connecticut, how do you pay your LLC’s annual fee? The state’s online payment system is the simplest way to make your annual fee payment. A printed form and a cheque can also be mailed in. The annual report carries a $20 cost. You will be charged a $50 late fee if you submit the report after the deadline.
But what precisely is an LLC annual report? An overview of the LLC’s operations and financial situation from the previous year is provided in the annual report. It contains details like the registered agent, the principal office address, and the names and addresses of all members and management. The report also contains details on any alterations to the LLC’s management structure, operations, or financial standing.
You can utilize the state’s online portal or send a paper form to submit an annual report in Connecticut. The quickest and simplest way to submit your report is through the online portal. You must print the form from the Secretary of State’s website, thoroughly fill it out, and mail it to the address provided on the form if you decide to submit a paper application.
Lastly, who is in charge of submitting the annual report? The annual report shall be filed by the Registered Agent of the LLC in Connecticut. On behalf of the LLC, legal documents and other official correspondence must be received at the registered agent’s address. However, if the LLC’s members or managers so desire, they may also file the report.
In conclusion, Connecticut law mandates that every LLC submit an annual report. The report, which contains details about the LLC’s operations, financial situation, and management setup, is required by the end of the anniversary month of the LLC’s formation. The state’s online portal is the simplest way to submit the report, and there is a $20 filing cost. The report must be filed by the LLC’s registered agent, but members or management may also file if they so want. Late costs and even the LLC’s dissolution may come from failing to submit the report on time.
Yes, registered agents are necessary for LLCs in Connecticut. A person or business selected as the LLC’s registered agent will accept legal notices and other necessary documents on its behalf. The registered agent must have a physical address in Connecticut and be accessible to accept service of process during regular business hours. The LLC may face fines and legal repercussions if it fails to keep a registered agent.