The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about Connecticut LLC annual report filing in Connecticut.
An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.
On this page, you’ll learn about the following:
- Contents of the Annual Report
- Connecticut LLC Annual Report
- Does the State of Connecticut Require an Annual Report Filing?
- Why Do LLCs Have to File the Annual Report?
- How to file a Connecticut LLC Annual report
- Seek the Help of a Registered Agent
Contents of the Annual Report
Typically the annual report filed by an LLC in Connecticut (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report or the annual franchise tax report are
- Office Address of the LLC
- Names & Addresses of the Members & managers.
- Identification Documents
- Social Security numbers of the key members of LLC
- The objective of the business of LLC
- List of all the signatories of the LLC
- Information of the registered agent, if any
Connecticut LLC Annual Report
Similar to many states in the US, LLCs in Connecticut have to file an Annual Report in Connecticut. The Annual Report allows the Secretary of State to track the changes in the company’s addresses or any new appointments of members. Filing the Annual Report is an essential rule for all types of business entities, including Corporations, LLCs, & Non-profit Organisations operating in Connecticut.
Does the State of Connecticut Require an Annual Report Filing?
In the State of Connecticut, it is mandatory for all Business Entities to file an Annual Report. This includes all the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies, bound to file the Annual Report.
Annual Report Deadline
As mentioned above, filing the Annual report is a mandatory requirement even for an LLC. An LLC operating in Connecticut has to file the Annual report with the Connecticut Secretary of State by March 31 every year. The annual reports are filed with the Commercial Recording Division of the Connecticut Secretary of State’s office.
Penalties for Non-filing or late filing
An Annual Report is one of the important documents filed by an LLC. Even though the Connecticut Secretary of State does not levy any fines or penalties for late or non-filing the Annual report, any late filing or non-filing of the annual report can result in an LLC getting the “not in good standing” status. If the LLC fails to file the annual report altogether, the Secretary of State has the right to dissolve the LLC.
Why Do LLCs Have to File the Annual Report?
Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,
To Maintain the Accuracy of the Information
An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.
To Provide the Correct Correspondence
Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.
To Notify the Government About All the Significant Changes
If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.
To Provide an Activity Log of an LLC
The Annual report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.
To Help You With the One-time Filing of Taxes
The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government.
To Enable the State to Track the Payments
The government authorities use all the information filed through the annual report, for tracking the payment of State Taxes.
How to file a Connecticut LLC Annual report
The Connecticut LLC Annual Report can be filed online only. An LLC operating in Connecticut has to file the Annual report with the Connecticut Secretary of State by March 31 every year.
Steps to File Connecticut LLC Annual Report
Time needed: 5 minutes.
Below is the procedure to file the Connecticut LLC Annual Report online.
- Visit Connecticut’s Official State Website
Your first step in filing the Connecticut Annual Report is to visit Connecticut’s official State website & click on the tab titled All Business Services.
- Click on “File Annual Report” in the drop-down list.
Once you click on the All Business Services tab, you will get a drop-down menu of all the Business filing options. Click on the File Annual Report option from the drop-down list.
- Click the File Annual Report link
Upon clicking on the File Annual Report Menu, you will see the following page. Click on the File Annual Report link to proceed with the report filing.
- Login with an existing account or create a new one.
When you click on the File Annual Report link, you will be directed to the Login page of the website- meant for filing. To file the Connecticut LLC annual report, you must log in to the existing account or create a new account on the state’s site.
- Select the “File Annual Reports Link”
Once you have successfully logged into your account on Connecticut’s Official State Website, click on the File Annual Reports Link & submit the relevant information with the filing fee of $80.
Connecticut LLC Annual Report (Domestic & Foreign)
|State Office:||Connecticut Secretary of State, Business Services Division, 165 Capital Avenue, Hartford, CT 06106|
Link to Website
|Due Date:||Every year, by March 31.|
|Filing Fee:||The Online filing fee of the Connecticut LLC’s Annual Report is $10.|
|Penalty:||The Connecticut Secretary of State does not levy any fines or penalties for late or non-filing of the Annual report; any late filing or non-filing of the annual report can result in an LLC getting the “not in good standing” status. If the LLC fails to file the annual report altogether, the Secretary of State has the right to dissolve the LLC.|
|Filing Method:||An LLC can file the Annual Report Online only.|
|Forms:||Connecticut Annual Report can only be filed online, so there are no downloadable forms or links to file the report in person or by mail.|
|Important Information:||Once a Domestic or Foreign Connecticut Limited Liability Company submits the Annual Report along with the prescribed fees to the Connecticut Secretary of State, the filing is said to be complete.|
Seek the Help of a Registered Agent
Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.
Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:
- Streamlining the mandatory processes & filing.
- Sending or receiving any documents.
- Reminding you about important dates of filing or payment of taxes.
- Simplifying the filing procedures.
- Avoid any penalties.
- Flexibility in working.
- Maintaining Privacy (as it keeps your personal records off the public record)
You can read more about a Connecticut Registered Agent here.
How Fast Can I Fill Connecticut LLC Annual Report
Deadline for filing the annual report for Connecticut LLC is March 31 every year. You can file online for $80.
Connecticut LLCs and LLPs have to file their Annual Reports with the Secretary of State each year. These reports contain information about the business, including a list of members, officers, and directors. They are also required to pay an annual filing fee of $80.00. Although the process can be daunting, the Secretary of State has made it easier for owners of these types of businesses to comply.
There are two ways to fill out your Connecticut LLC annual report. You can do it on your own, or you can use an online service. In addition, if you have problems, you can call or fax the Department of Revenue Services to request a waiver.
The Connecticut Secretary of State has a search function on their website, so you can find out what you need to file. After you have the necessary documents, you can set up your account and upload them. Once you have the information you need, you can choose to pay the $80.00 filing fee electronically, by check, or by credit card.
When you fill out the report, you will want to make sure to include your mailing address. You can either use your Principal Office Address, which is where your primary business activities occur, or a PO Box. If you are using a PO Box, you can change your mailing address to a different address in the future.
The Secretary of State’s office will send you an email reminder at least one month before your Connecticut LLC Annual Report is due. For a fee, you can be mailed a reminder, as well. It is important to file your annual report on time, so that you do not face penalties. If you do not file your annual report, you will be considered “not in good standing,” which can negatively affect your funding. Also, your Connecticut Limited Liability Company can be dissolved by the Secretary of State, if it is not in compliance with state law.
If you are filing your Connecticut LLC’s annual report, you must keep track of all of your documents and changes. This includes any changes to the name of your business, the mailing address, or the principals listed. To stay on top of your Connecticut LLC’s filing, you can create a personalized dashboard. You can edit or delete your Connecticut LLC’s information, or keep track of your documents with your dashboard.
Your Connecticut Limited Liability Company can add new members and managers, as well as change its office address. However, you will not be able to change its registered agent until you file a reinstatement package with the Secretary of State. Keeping up with these procedures can prevent any confusion about the proper ownership of the company.
When you file your Connecticut LLC Annual Report, you will be asked to pay a filing fee of $80.00. This is not to be confused with the Business Entity Tax. Several states require franchise taxes to be paid in conjunction with the annual report.
Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.
A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.
A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.
The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.
Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.
In conclusion, we can see that the annual report – which is also called the Franchise Tax Public Information Report is much easy to be filed. However, it is mandatory to file the report on time to avoid any penalties. If you are running an LLC in the state of Connecticut, you have to comply with the filing of certain important documents including the annual report or the Franchise Tax Public Information Report as it is named in the state of Connecticut.
It is also important to note that once this Public Information Report is filed with the Comptroller of Public Accounts, there is no need for additional filing with the secretary of state.