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 Pennsylvania LLC annual report filing in Pennsylvania.
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 a Pennsylvania 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
Does the State of Pennsylvania Require an Annual Report Filing?
Pennsylvania is one of those few states in America, which do not require an Annual Report. If you want to form an LLC in Pennsylvania, filing an annual report will not be a part of your compliance. However, a decennial report known as the Decennial Report of Association Continued Existence is required by the Pennsylvania Secretary of State.
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 some 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 Pennsylvania LLC Annual Report
Time needed: 5 minutes.
In Pennsylvania, LLCs have to file a decennial report which means once in every 10 years LLCs should file the report. Here’s how to file the report in Pennsylvania.
- Go to the Official Business Document Filing System
Visit the Pennsylvania Business Document Filing System website. To file the report online, LLCs must have an account with them.
- Sign-in or Sign-up
If you are a registered member on the website then you need to provide the credentials to log in to the site. If not, then sign-up to the site with your Name, Phone Number, etc.
- File Annual Reports Online
Once logged in, you can start filing your Annual/Decennial Reports online. For first-time users, after registration is complete you need to log in to the portal again.
Filing Pennsylvania LLC Annual Report By Mail
- To file the annual report by mail, one has to visit the Business Formation page.
- Find out the Decennial Report filing form from the list given on the page.
- Download the form on your device, take a print out.
- Make sure all the information in the form are correct.
- Send the filled up form to the address, PA Department of State, PO Box 8722, Harrisburg, PA 17105-8722.
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 Pennsylvania Registered Agent here.
How Fast Can I Fill Pennsylvania LLC Annual Report
For LLCs operating in Pennsylvania, it is not necessary to file the annual reports. However, a decennial report is filed for Pennsylvania LLCs.
Filing an Annual Report with the Pennsylvania Department of State is an important part of maintaining your LLC’s good standing and staying compliant with the state. The Pennsylvania LLC Annual Report is an annual filing that must be completed each year. The report is due by the 15th day of the 4th month after the close of your LLC’s fiscal year. That means if your LLC’s fiscal year ends on December 31st, your report is due April 15th. Failure to file your Annual Report on time can result in penalties and even dissolution of your LLC.
The good news is that the Annual Report is relatively straightforward and can be filed quickly. All you need to do is submit a one-page form with some basic information about your LLC, such as the LLC’s name, address, registered agent and contact information. You will also need to confirm the name and address of each member and manager of the LLC. Additionally, you will need to provide your LLC’s Federal Employer Identification Number (FEIN).
You can submit your Pennsylvania LLC Annual Report either online or by mail. If you choose to submit the report online, you will need to create an account and pay a filing fee of $70. The online filing process is relatively simple and can be completed in a matter of minutes. If you decide to submit your Annual Report by mail, you will need to fill out a paper form and include a check or money order for the $70 filing fee. The paper filing process can take anywhere from a few days to a few weeks depending on how long it takes for the Department of State to process your report.
If you need to file your Pennsylvania LLC Annual Report quickly, the best option is to file online. The online filing process is faster and more convenient than submitting a paper form, and you can get confirmation of your filing within minutes. Keep in mind that the filing fee is still the same whether you submit your report online or by mail.
Once you have successfully filed your Pennsylvania LLC Annual Report, you will receive a confirmation notice from the Department of State. This notice will be sent to the address listed on your LLC’s Articles of Organization. It is important to keep this notice in a safe place as it serves as proof that your LLC is in good standing with the state.
Filing your Pennsylvania LLC Annual Report is an important part of keeping your LLC in compliance with the state. The process is relatively straightforward and can be completed quickly, either online or by mail. The filing fee is the same regardless of the filing method you choose, and you will receive a confirmation notice from the Department of State once your report is successfully filed.
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.