Regardless of the kind of entity, all businesses are required to submit the biannual report once every two years. On the anniversary of the company’s founding, the report is due. The biennial report is required every other January, for instance, if the company was founded in January. It is significant to remember that penalties and even the cancellation of the company’s registration may apply if the biennial report is not submitted on time.
The state may charge a $30 late fee if a business doesn’t submit its biannual report by the deadline. State officials have the authority to cancel a company’s registration if the report is not submitted within 60 days of the deadline. The corporation will not be permitted to conduct business in the state once the registration has been revoked unless it has paid all due fees and submitted all appropriate paperwork.
How Much Does It Cost in Indiana to Form an LLC? The filing fee for incorporating an LLC in Indiana is $95; this makes the expense of doing so reasonably low. However, there can be further charges, including the annual report fee and registered agent price. It is advisable to speak with a professional to learn about all the requirements and associated charges.
Through the website of the Indiana Secretary of State, the biennial report may be submitted online. The procedure is simple and only requires the filing fee and corporate identification number. To prevent late fees and any potential penalties, the report should be submitted on time.
The biennial report is a crucial obligation for all entities registered in Indiana, in conclusion. It is an important document that aids in maintaining current and accurate information about the companies, which is essential in easing communication between the state and the companies and also aids in safeguarding the public interest from fraudulent actions. To prevent late costs and any penalties that could result in the revocation of the company’s registration, it is crucial to submit the report by the deadline.