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Florida LLC Annual Report Filing | How To

How to Start an LLC

Running a business, especially a Florida LLC, is both thrilling and demanding. To maintain your LLC's good standing, it’s essential to understand and adhere to legal compliance requirements, like paying taxes. While it involves certain fees, this process is vital for asset protection. An LLC provides significant advantages. Therefore, a single-member LLC must draft the operating agreement to determine how the LLC is going to be structured and run. Moreover, you have to submit an annual report yearly.

Other things you may want to have handy when filing your annual report include:

  • Entity name (which you can check through a business name search)
  • Principal business address
  • Mailing address
  • Name and address of your registered agent
  • Names and addresses of the principals associated with your business i.e. officers, directors, managers, authorized representatives, and general partners.

An anonymous LLC might be the route for those prioritizing privacy. Neglecting these filings can lead to penalties or even involuntary business dissolution, highlighting the importance of staying informed and compliant.

For many businesses in Florida, like in most states, this includes filing an annual report. Filing an annual report is a standardized way for the state to keep your business information up-to-date, like your company name, mailing address, and registered agent information.

The larger your business, and the more businesses you own, the harder it can be to keep up with all the filing requirements. However, if you miss a filing, you could fall out of good standing.

Once you are in bad standing with the state, you could face fees and fines, and your company could be forcibly dissolved. Working with an experienced business law attorney can help you to eliminate these risks.

An experienced business law attorney can help you stay up-to-date with business law filing requirements, alleviating you of this burden so that you can focus on your business operations.

LLCs are a business structure in the United States that offers protection for its owners from liability of company debts. Known as a limited liability company, the LLC is a hybrid entity that combines aspects of both a corporation and a partnership or sole proprietorship. There are a variety of specific rules when it comes to forming an LLC, but some of the protections are invaluable.

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What is an LLC Annual Report?

The purpose of the annual report is to provide information to the state of Florida regarding the names and addresses of the directors or managing members of an LLC. Overall, it keeps your LLC in compliance and in good standing.

An annual report is a form that every limited liability company, limited partnership, limited liability partnership, and corporation in Florida must file with the Florida Division of Corporations, before May 1 of each year. The purpose of an annual report is to ensure that the state has on file the most up-to-date information regarding your business.

An annual report is a full report regarding all the activities of an LLC from any given calendar year. It must be filed with the Secretary of State in Florida. The annual report also includes the registered agent’s address.

When you file your annual report, you have the opportunity to add, delete, or change the names and addresses of the officers, directors, managers, members and/or general partners of your company.

In addition, you can change both the principal and mailing addresses of your business, the address of your registered agent, and your business's employer identification number (EIN). But, even if there are no changes in your business information, you are still required to file an annual report.

Information Included in the Florida Annual Report

  • LLC name and company address: Include the legal name of the LLC, along with the head legal address of the company.
  • Managers: All managers and members (owners) should be listed on the annual report. The addresses of each manager should also be included.
  • Purpose of Business: This includes the industry in which your business operates.
  • Business ID numbers: Each LLC is given a unique number by the secretary of state, similar to a driver’s license number. Include any other numbers as well.
  • Shares issued by the company: State how many shares and members exist, along with stock issued.
  • Registered Agents: The registered agent is the person or company (other than the owners) who is specified in your filing documents. The registered agent exists in the state of Florida in order to accept important tax documents and other legal documents on behalf of the LLC. This needs to be declared on the annual report.

How to File an Annual Report in Florida?

If you file by mail, you will be required to do so with a blue or black pen. We recommend filing your annual report online at the Florida Division of Corporations' website, which will require the following:

  • Business Entity Number - assigned to you by the Florida Division of Corporations.
  • Employer Identification Number (EIN) - issued to you by the IRS.
  • Payment - the fees for filing an annual report are as follows:
    • $150 - Profit Corporation
    • $61.25 - Non-Profit Corporation
    • $138.75 - Limited Liability Company
    • $500.00 - Limited Partnership or Limited Liability Limited Partnership

Be sure to make a copy for your own records before mailing the original to the Secretary of State in Florida. The payment options for filing your annual report are:

  • MasterCard, Visa, American Express, Discover, Prepaid Sunbiz E-File Account
  • By mail or courier - check or money order payable to the Florida Department of State in U.S. dollars.

Although some states require an LLC to pay and file an annual report every two years or twice per year, Florida requires you to do so one time per year on May 1.

Florida Annual Report Cost

The annual report fee varies in each state. Some states require a fee of $50, while others $150, and even up to $800. In the state of Florida, the cost to file an annual report is $138.75.

Need Help Filing an Annual Report in Florida?

Some business owners are capable of filing their annual reports each year on their own. Nevertheless, if you don't have the time or the desire to do it yourself, you can hire an experienced business law attorney to prepare and file your annual report for you.

Ultimately, however, filing an annual report and keeping your business in good standing is your responsibility. If you hire a service to help you file your annual report, be sure to find out if they will actually file it for you or if you must file it yourself.

For more information or for help filing an annual report for your business in Florida, call us today to schedule a consultation with an experienced Florida business lawyer. We can handle all aspects of filing your annual report so that you can keep your focus where it needs to be––on your business operations.

What Happens if You Do Not File an LLC Annual Report in Florida

Unless your business is registered as a non-profit organization and not subject to a late fee, failure to file an annual report for your company will result in your business being assessed a $400 late fee. Furthermore, if you don't file your annual report by the 3rd Friday of September, the Florida Department of State will administratively dissolve your business.

If you fail to file an annual report, first you will be served with a $400 penalty. If you continue to ignore the annual fee, your LLC will be dissolved. You will not be in good standing, and you will not be legally allowed to operate. It is essential to file an annual report in the state of Florida for your LLC.