Normally, at this time of year, you might find yourself scrambling to file your Florida annual report by the May 1st deadline. A business’s annual report confirms or updates a company’s information in the Florida Division of Corporations’ records. The State requires that business entities file an annual report each year to maintain an “active status” with the Department of State.
Corporations (for-profit and non-profit), limited liability companies (LLCs), limited partnerships (LPs), and limited liability partnerships (LLPs) must file an annual report. The requirement applies to both domestic entities (companies registered in the State of Florida) and foreign entities (companies registered in a different state that have operations in Florida).
This year, however, the Florida Division of Corporations has extended the deadline to June 30, 2020.
According to the State government’s website:
“Any profit corporation, limited liability company, limited partnership or limited liability limited partnership annual report filing will have until 12:01 am on July 1, 2020, before a $400 late fee is assessed.”
Information Required When Filing an Annual Report
Business owners should be prepared with the following information when they file their annual report:
- The Document Number assigned to them when the business entity was registered or filed with the Florida Division of Corporations
- The business entity’s official, legal name
- The business entity’s EIN (Federal Employer Identification Number)
- The business entity’s principal address (must be a street address)
- The business entity’s mailing address
- The registered agent the business entity has designated to receive service of process on its behalf (must have a physical street address in Florida)
- Names and addresses of the business entity’s principals (i.e., owners, general partners, officers, directors, managers)
- Email address (where the entity should receive filing confirmation, future email communications, and certification (Certification is optional.)
How Do You File an Annual Report in Florida?
The fastest way to submit a Florida annual report is to e-file online. The State processes and posts annual reports submitted online immediately. The form is available via the State’s Division of Corporations website (sunbiz.org).
I encourage you to consider asking CorXec to assist you with filing your Florida annual report. This can save you precious time. Also, it will give you peace of mind that your annual report has been completed accurately which is critical for maintaining your active status with the State.
Annual Report Filing Fees in Florida
- Profit Corporation Fee , $150.00
- Non-Profit Corporation Fee , $61.25
- Limited Liability Company Fee , $138.75
- Limited Partnership or Limited Liability Limited Partnership Fee , $500.00
Businesses may pay their annual report fees by credit card or debit card when e-filing. The State also allows frequent filers to set up a prepaid e-file account that they can use to pay their annual report fees and other filings.
If they wish, companies may instead pay by check or money order postmarked and mailed on or before the Florida annual report deadline.
How to Get a Florida Certificate of Status
When filing an annual report, business owners may request certification of their active status.
Fees for a Florida certificate of status are:
- Corporations and Limited Partnerships , $8.75
- Limited Liability Companies , $5.00
The State will email the certificate to the email address the company provided on its annual report. Alternatively, business owners may obtain them by mail by submitting a separate written request with the required fee.
Are There Penalties for Not Filing On-Time?
Yes, there are ramifications for not filing an annual report in Florida by the deadline.
Late Fees
The State charges a $400 late fee on all for-profit corporations, limited liability companies, limited partnerships, and limited liability limited partnerships. Normally, this applies to any annual report filing submitted after the May 1st deadline. However, remember that this year has a due date extension to June 30, 2020. So, only filings after June 30th will be subject to the late fee. The State does not impose a late fee on non-profit corporations.
Administrative Dissolution
Businesses that do not file an annual report by the third Friday of September may find that the State has administratively dissolved (closed) or revoked the entity’s active status in its records at the close of business on the fourth Friday of September.
According to the Florida Division of Corporations’ website:
“For the 2020 calendar year, the last day to pay by check is September 18th. You may pay by credit card through 5:00pm EST, September 25, 2020.”
Businesses that have been administratively dissolved or revoked must submit a reinstatement application along with payment of all fees (the reinstatement fee, the annual report fee, and possibly other delinquent state fees). CorXec can help with the reinstatement process, as well, so that your business can operate legally again.
Note that only when a Florida corporation, LLC, LLP or LLLP closes its business with the State does the annual report filing requirement no longer apply. If you no longer wish to conduct business in Florida, CorXec can help you file your Articles of Dissolution to make it official.Â
What if You Filed and Need to Make Changes?
Business entities can update an already filed annual report by submitting an amended annual report. The current State fees to do so are:
- Profit or Non-Profit Corporation , $61.25
- Limited Liability Company , $50.00
- Limited Partnerships and Limited Liability Partnerships , $52.50
CorXec can assist you with making changes to an already-submitted annual report, so contact us to ensure your company’s information is correct in the state records.
Ready to File? CorXec is Here to Help!
While Florida has extended the deadline for filing annual reports during the COVID-19 breakout, there are good reasons to take care of that responsibility now. I expect that you, like many business owners, have many business decisions to make and tasks to tackle as you adjust your operations to the situation. The longer you wait to file your Florida annual report, the greater the chance that you might unintentionally miss the new due date. By filing your Florida annual report sooner rather than later, you will take an important step toward maintaining your status of good standing with the State. Keeping your active status will be more mission-critical than ever. As we put coronavirus behind us and get back to business as usual, you’ll want to have all of your compliance requirements in order.
Get in touch with CorXec today through our website or call us at 1-888-449-2638 to talk with one of our filing experts. We are here to help you with your annual report and other business compliance filings.
We can also assist you in applying for the SBA loans that the federal government is offering in response to coronavirus.
