How do I renew my LLC?

Every year, you'll need to file an annual report to renew your LLC, which confirms that your LLC is in compliance and intends to keep operating. This report usually comes with a state fee or tax, which ranges from $0 to $500, depending on the state. 

Failing to renew your LLC can result in penalties, or even the dissolution of your company. Let's walk through how to renew your LLC.

Steps to renew your LLC online

Your LLC renewal can be done entirely online. You can choose to do it yourself, or hire us to handle it for you. 

1. Go to the Secretary of State website of the state where you registered your LLC. 
2. Find the page dedicated to filing companies' annual reports.
3. Log in, or create an account if this is your first time filing a report.
4. Search for your LLC by entering the company name or EIN.
5. Once you have found the right company, select it and review the information.
6. Make sure all the information is up to date and make any necessary changes.
7. If you don't need to make any changes, simply submit the filing as is.
8. You will have to pay the renewal fee when you submit the filing. The cost varies by state. 

What is an annual report?

The annual report is a document that notifies the state that the business is active and in compliance, providing contact information for the LLC.

Both single-member LLCs and multi-member LLCs must file it if the state requires it. 

The report includes information such as your LLC's name, its address, your attorney's name and your registered agent's name. Annual reports must be filed directly with the Secretary of State.

It's important to distinguish the annual report from the tax return. They are two different procedures that your LLC will need to complete every year.

What information does the annual report include?

Although the requirements may vary slightly depending on the state where your LLC is registered, most annual reports include the following information:

• The legal name of the LLC
• For a foreign company, the fictitious name (DBA) it operates under in that state, if it has one.
• The name of the LLC's registered agent.
• The registered office address.
• The names and business addresses of the LLC's members and/or managers.
• The EIN.
• The principal office address within the state, if applicable.

Steps to renew your LLC by mail

If you live in the USA and choose to renew by mail, you'll need to print, complete and mail the renewal form available on the Secretary of State's website. 

You will also need to include a check for the renewal fee amount, payable to the Division of Corporations. Be careful: Payments must come from U.S. banks and be made in U.S. dollars. Invalid checks will result in additional fees and delayed or canceled renewals.

Don't forget to renew your registered agent

A registered agent is a person or company designated with the Secretary of State to receive legal correspondence on behalf of the LLC. The registered agent must pass important messages on to the owners in a timely manner. This includes government, tax and legal correspondence.

If you have registered an LLC as a non-resident, you have most likely hired a company to act as your registered agent. Don't forget to renew that service.

If your LLC doesn't have a registered agent the Secretary of State can contact, it may be revoked. 

Conclusion

Renewing your LLC isn't a difficult process, especially if you've hired a service that takes care of it. It's important to plan ahead, since it can take 4 to 6  weeks. 

Also make sure to download your new LLC certificate, so you have proof that it has been renewed and is in good standing.