Keep Your Business Compliant: File Your Illinois Annual Report

An Illinois annual report is a document that businesses must file with the Illinois Secretary of State each year. This report updates the state on essential information about the business, including the names and addresses of directors and officers, the registered agent, and the principal office address. 

The purpose of the report is to provide the state with current data on businesses operating in the state and to ensure they comply with state rules. This report in Illinois is very important for maintaining the legal status of the business, whether it’s a corporation, limited liability company (LLC), or a not-for-profit organization. It serves as a way for the state to verify and record changes in a company’s structure or contact information.

The Illinois annual report is required for several reasons:

Compliance: The primary reason is to comply Illinois laws. Failure to file can result in penalties, fines, and even the dissolution of the business.

Transparency: Annual reports enhance transparency by providing the state and the public with accurate information about the business. This is particularly important for corporations and LLCs, which are required to disclose information about their officers and directors. In Illinois, this information is public record, available to anyone who wants the information.

Updating Information: Businesses often undergo changes throughout the year. The annual report is an opportunity to update the state’s records with any changes in business address or management structure.

Good Standing: Filing an Illinois annual report helps maintain the business’s good standing status with the state, which is necessary for conducting various transactions, such as obtaining business loans or entering into contracts.

All Illinois annual reports must be filed with the Illinois Secretary of State. The office is responsible for maintaining business records and ensuring compliance with state laws. 

Filing with the Illinois Secretary of State ensures that the business’s information is accurately recorded and accessible. But of course, our service is here to file this for you.

While businesses can always file an Illinois annual report directly with the Secretary of State, using Go Filings’ services offers a better option. Go Filings dedicated website to Illinois annual reports (www.illinoisannualreports.com) simplifies the process by providing step-by-step assistance, ensuring that all required information is accurately completed and submitted on time.

To file an Illinois annual report, businesses need to gather all relevant information, including the names and addresses of officers, directors, and the registered agent. They must then complete the appropriate form, which can be done online or on paper. Illinoisannualreports.comcan guide you through the entire process to ensure a hassle-free experience for businesses.

The due date to file a New Jersey annual report depends on the business entity’s anniversary month—that is, the month in which the business was initially registered with the state. The report must be filed  by the end of the month in which they were formed. For instance, if the business was registered on March 18, the annual report should be filed prior to March 31 of every year in which it is due.

Failing to file an annual report in New Jersey can lead to penalties that may significantly impact a business. New Jersey will administratively dissolve or revoke your business if no report is filed for two consecutive years. 

Businesses that have been dissolved can apply for reinstatement, but will be required to file all annual reports that have not been received by the State of New Jersey.

Failing to file an annual report in Illinois can lead to several penalties that may significantly impact a business. The most immediate consequence is a late fee that will be added to the standard fee that applies to annual reports. For example, corporations face an additional fee of 10% of their Annual Franchise Tax. An LLC annual registration will incur a fee of $100 for reports if it is not filed within 60 days of the due date. Non-profit organizations must pay a $3 fee for a State of Illinois annual registration that arrives late.

Moreover, continued failure to file an Illinois annual report can result in the business losing its good standing with the state. This loss of good standing can have further negative consequences, such as the inability to legally conduct business, secure loans, or enforce contracts. This status can lead to administrative dissolution after a certain period, effectively terminating the corporation’s legal existence.

Businesses that have been dissolved can apply for reinstatement, but will be required to file all annual reports that have not been received by the State of Illinois.

A New Jersey annual report must be filed by an authorized individual within the business.