How do I renew my LLC?

Every year, you must make an annual report to renew your LLC, whose objective is to ensure that your LLC is in compliance and with the intention of continuing to operate. This report is usually accompanied by a state fee or tax, which varies between $0 to $500, depending on the state. 

Not complying with the renewal of your LLC can end in fines, or even the closure of your company. Let's see together how to renew your LLC.

Steps to follow to renew your LLC Online

The renewal of your LLC can be done completely online. You can choose to do it yourself, or hire us to manage it for you. 

1. Enter the website of the Secretary of State of the state in which you have registered your LLC. 
2. Look for the page dedicated to opening and filing annual business reports.
3. Sign in or create an account if this is your first reporting.
4. Search for your LLC by entering its company name or EIN.
5. Once you have found the company correct, select it and review the information.
6. Make sure all information is up to date and make any necessary changes.
7. If you do not need to make changes, simply submit the application without changes.
8. You will need to pay the renewal fee when you apply. The cost will vary according to each state. 

What is an annual report?

The annual report is a document that notifies the state that the business is active and in compliance, providing contact information for the LLC.

Both Single-member LLC and multi-member LLCs must file it if the state requires it. 

Inside the report, information such as the name of your LLC, address, the name of your attorney, and the name of your registered agent will be included. Annual reports must be filed directly with the Secretary of State.

It is important to differentiate the annual report from the tax return. They are two different procedures that your LLC must carry out every year.

What information does the annual report include?

Although the requirements may vary slightly depending on the state where your LLC is registered, most annual reports usually include the following information:

• The legal name of the LLC
• If it is a foreign company, the fictitious name (DBA) under which it operates in that state, if you have one.
• The name of the registered agent of the LLC.
• The address of the registered office.
• The names and business addresses of the members and/or managers of the LLC.
• The EIN.
• The address of the main office within the state, if applicable.

Steps to renew your LLC by Postal Mail

If you reside in the USA and choose to renew by mail, you must print, complete and send the renewal form available on the website of the secretary of state. 

You must also include a check for the amount corresponding to the renewal fee, payable to the Division of Corporations. Caution: Payments must come from US banks and be made in US dollars. Invalid checks will result in additional fees and delays or cancellations of renewals.

Don't forget to renew your registered agent

A registered agent is a person or company designated in the eyes of the secretary of state to receive legal correspondence on behalf of the LLC. The registered agent must convey important messages to the owners in a timely manner. This includes government, tax and legal correspondence.

If you have registered an LLC as a non-resident, it is very possible that you have contracted the services of a company to act as a registered agent. Don't forget to renew them.

If your LLC does not have a registered agent that the secretary of state can contact, it may be revoked. 

Conclusion

Renewing your LLC is not a difficult process, and even less so if you have hired a service that takes care of it. It is important to anticipate, as this can take between 4 to 6 weeks. 

Be sure to also download your new LLC certificate, so you have proof that it has been renewed and is in compliance.