It’s crucial to stay on top of your company’s legal and financial requirements as an Illinois business owner. The submission of an annual report to the state of Illinois is one such requirement. A document known as an annual report serves as a means of updating the state’s knowledge of your company’s officers, directors, and registered agent. Everything you need to know about the Illinois annual report and how to renew your corporation in Illinois will be covered in this post.
Every year, corporations and limited liability companies must file the Illinois annual report with the Illinois Secretary of State. The report is due on the first day of the month that marks the anniversary of the company’s founding. For instance, if your company was established on May 15th, your annual report is due every year on May 1st.
In addition to your company’s name and address, the annual report also lists the names and addresses of your company’s officers, directors, and registered agent. The report also contains details regarding the operations of your company, such as any adjustments to its goals or the issue of new stock.
Online submission of an Illinois annual report is a quick and easy process. The filing number and PIN code for your company must be used to log into the Illinois Secretary of State’s website. After logging in, you can complete and submit the annual report form online. For companies and LLCs, the annual report filing fee is $75.
The price to create a series LLC in Illinois is $850. Included in this are the $150 application charge and the $700 series LLC certification fee. The series LLC certification certifies the series LLC as a distinct legal person from the parent LLC. The $850 price is a one-time payment only; the annual report fee is not included, it must be noted.
In order to renew your corporation in Illinois, you must submit an annual report and pay a renewal fee. The annual report is due on the first day of the month that marks the anniversary of the company’s founding. You must submit the yearly report and pay the $75 renewal cost to renew your corporation.
You can use your company’s filing number and PIN code to log into the Illinois Secretary of State’s website and submit the annual report. After logging in, you can complete and submit the annual report form online. You can use a credit card or electronic check to pay the renewal cost online.
In conclusion, keeping your company’s legal and financial compliance in Illinois requires completing an annual report and renewing your corporation. You can avoid fines and make sure that your company is still in good standing with the state by keeping up with these regulations.