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 Oregon LLC annual report filing in Oregon.
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
Typically the annual report filed by an Oregon LLC (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
Oregon LLC Annual Report
An Annual report is essential for all business types. It authenticates that the information provided to the Secretary Of the State is accurate & updated. The information provided in the annual report helps the State officials to ensure that all the companies pay taxes. The Oregon Annual Report is filed with the Oregon Secretary of State.
Does the State of Oregon Require an Annual Report Filing?
Eery Business Entity in Oregon must 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 Oregon has to file the Annual report every year with the Oregon Secretary of State on the Business’s Anniversary date.
Penalties for Non-filing or late filing
An Annual Report is one of the important documents filed by an LLC. Any Annual Report filed after the deadline will get the “Inactive” status. Further failure to file the annual report will cause the dissolution of 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 Oregon LLC Annual Report
The Oregon LLC Annual Report can be filed online only. An LLC operating in Oregon has to file the Annual report every year with the Oregon Secretary of State on the Business’s Anniversary date.
Steps to File Oregon LLC Annual Report Online
Time needed: 5 minutes.
Below is the procedure to file the Oregon LLC Annual Report online.
- Visit the Oregon Secretary of State Website.
Your first step in filing the Oregon Annual Report is to visit the Oregon Secretary of State website.
- Enter the required details.
Enter your contact email, Orgon Registry Number & click on the Retrieve Renewal Detail button.
- Begin Online Filing.
On the next page click on Start renewal to begin online filing.
Oregon LLC Annual Report (Domestic & Foreign)
| State Office: | Oregon Office of the Secretary of State, Public Service Building, Suite 151, 255, Capitol Street NE Salem, OR 97310 Links to Website |
| Due Date: | An LLC operating in Oregon has to file the Annual report every year with the Oregon Secretary of State on the Business’s Anniversary date. |
| Filing Fee: | The Annual Report filing fee is $100. |
| Penalty: | Any Annual Report or Annual Certificate (as referred to in Oregon ) filed after the deadline will get the “Inactive” status. Further failure to file the annual report will cause the dissolution of the LLC. |
| Filing Method: | An LLC can file the Annual Report Online or by mail. |
| Forms: | Only Online filing is allowed. |
| Important Information: | Once a Domestic or Foreign Oregon Limited Liability Company submits the Annual Report along with the prescribed fees to the Oregon 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 an Oregon Registered Agent here.
How Fast Can I Fill Oregon LLC Annual Report
Deadline for filing annual reports in Oregon is the date of company’s anniversary with the Oklahoma Secretary of State. Failing to do so may result in dissolution of the LLC.
Forming and managing a limited liability company (LLC) in Oregon is a process that involves a significant amount of paperwork. As part of the ongoing management of your business, Oregon requires that LLCs file an Annual Report each year. The filing of your Annual Report is important to maintain your LLC in good standing with the state.
The Annual Report must be filed with the Oregon Secretary of State. The filing fee is $50. The due date for the Annual Report is the last day of the anniversary month of the LLC’s formation. If you do not file by the due date, the LLC may be subject to late filing fees and possible dissolution.
Completing the Annual Report is a relatively simple process. The Oregon Secretary of State provides a fillable PDF form for you to complete. The form requires you to provide the LLC’s name, registration number, the name and address of the registered agent, the name and address of the LLC’s members or managers, and the address of the LLC’s principal office.
You will also need to provide the name and address of the LLC’s registered agent. The registered agent is required to maintain a physical office in Oregon and must be available during normal business hours to accept legal documents on behalf of the LLC. In addition, you must provide the name and address of any LLCs that you control, or that control you.
In addition to the information on the form, the Oregon Secretary of State requires you to provide a statement of compliance. This statement must be signed and dated by an authorized representative of the LLC. You must also provide a statement of financial condition. This statement must include the LLC’s balance sheet, income statement, and statement of changes in equity.
Filing the Annual Report can be done quickly and easily online. The entire process should take less than 10 minutes. Once the form is submitted, the Oregon Secretary of State will review it and issue a confirmation within two to three business days.
Filing your Annual Report with the Oregon Secretary of State is important to maintain your LLC’s good standing with the state. The entire process can be completed quickly and easily in less than 10 minutes, so there is no reason to delay. Make sure to file your Annual Report on time to avoid late fees and possible dissolution.
FAQs
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
An LLC has to file many types of reports, such as Application for Reinstatement, Periodic Report of a limited partnership (usually filed by the exempt nonprofit organization), etc., which are required depending on the type of entity. The Annual Report is mandatory irrespective of the entity type. It requires compliance across entities.