Florida is home to over 500,000 limited liability companies (LLCs). If you own or plan to open a business, you must file a Florida LLC annual report.
The State of Florida allows you to file this report online through a convenient form. However, many business owners don’t know how to complete this report or forget to file it altogether.
Contact BrewerLong if you need help with your Florida annual report filing. Our firm provides a broad range of legal services for businesses and enjoys helping businesses of all sizes.
What Is a Florida LLC Annual Report?
An annual report is a document that all Florida LLCs must file each year. The Florida Division of Corporations collects and manages these reports. A business’s annual report updates or confirms the government’s records, including formation like:
- Names and addresses of members or managers,
- Registered agent name and address,
- Principal office address and mailing address, and
- Federal Employer Identification Number (FEIN).
As you can see, your annual report does not include financial information. While you can expect to share this in an annual report for shareholders, it is not part of the report required by the government.
How to File Your Annual Report Online
The Florida Division of Corporations makes filing your Florida LLC annual report online convenient.
First, go to the Annual Report page. Here, you will need to enter your LLC’s document number. You receive this number after registering an entity with the Division of Corporations.
Once you have entered this information, you can access the online annual report form. This page lets you review your information from previous filings and make changes if necessary.
After you submit your form, you must pay the annual filing fee. You will receive a confirmation email once the website processes your report and payment.
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Can I File My Annual Report by Mail or in Person?
No. You can only file your annual report through the online process.
However, you can pay the filing fee via mail or courier. The website will present you with this option when you submit your filing. It will give you a payment voucher and instructions for mailing a check or money order.
Remember that your payment voucher and payment must be postmarked and mailed on or before May 1st. Otherwise, you may need to pay a late fee.
How to Make Changes to Your Annual Report After Filing
You can make changes after you file your report for the current year. However, you must pay a fee before updating and refiling your report. The current cost to amend an LLC’s annual report is $50.
What Happens If You Don’t File an Annual Report on Time?
All Florida LLCs must file an annual report by May 1st of each year. Failing to file your annual report before this deadline can result in a late filing penalty. The state will charge a $400 penalty for the first 30 days after the due date and another $800 for each additional 30-day period.
Also, Florida law allows the government to dissolve your LLC if you fail to file your annual report on time. Administrative dissolution means the Florida government will no longer recognize your LLC as a legal entity. To reinstate your LLC after it has been administratively dissolved, you must file a reinstatement application with the Division of Corporations and pay a reinstatement fee.
Lastly, filing your annual report on time is essential for maintaining good standing with the Florida Division of Corporations. The benefits of good standing include:
- Being able to obtain business loans and other forms of financing,
- Opening bank accounts and credit cards in the name of your LLC,
- Entering into contracts with other businesses, and
- Maintaining your LLC’s liability protection.
In addition to the consequences listed above, failing to file your Florida LLC annual report on time can make operating your business more difficult. For example, you might fail to get business licenses, permits, and new contracts.
Do I Need an Attorney to File My Annual Report?
You don’t need an attorney to file your Florida LLC annual report. However, there are many benefits to having an attorney assist you in your filing.
An attorney can help you to:
- Make sure that your annual report is accurate,
- Identify any potential problems,
- Advise you on any changes to make, and
- File your annual report on time.
In addition to helping you with your annual report, an attorney can help you with many other business needs. Their counsel can help you with everything from government compliance to sales and growth.
Some services offered by business attorneys include:
- Drafting and reviewing contracts,
- Protecting your intellectual property,
- Complying with state and federal regulations, and
- Resolving business disputes.
Most importantly, attorneys can identify and avoid problems before they occur. Even if you think you don’t need to work with a lawyer, it is always a good idea to consult an attorney to see what hidden risks can affect your business.
Schedule a Consultation with BrewerLong
The Orlando business attorneys at BrewerLong help small and medium-sized businesses across the Sunshine State. With decades of combined experience, our firm can handle everything from filing a Florida LLC annual report to litigating complex cases. Call our office today to speak with an attorney about your business.
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