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Payment of fees due in connection with the on-line filing of an Annual Report may only be made by using an electronic fund transfer or a Visa, MasterCard, Discover or American Express credit card. Payment of all fees due is required during the electronic filing process.
What happens if I forgot to renew my LLC?
Annual Renewal: Most states require LLCs to renew their status annually through filing paperwork and paying a fee. Consequences of Non-Renewal: Missing renewal can lead to fines, dissolution of the LLC, and loss of liability protection.
Do you need to file an annual report in Illinois?
All Illinois business entities are required to file an annual report by the last day of the month prior to their anniversary month. So, if you formed your business on January 15, you would need to file your annual report by December 31.
What is the late fee for LLC Annual Report in Illinois?
A late filing penalty of $100 will apply if this report is not filed within 60 days after the due date.
What happens if I forgot to file my Annual Report?
After failing to file, a jurisdiction will revoke your companys good standing or put it into a forfeited status if the report is not filed within a certain amount of time following the missed filing. Often, missed annual filings are not caught until the entity has already been revoked.
What happens if you dont file an annual report for LLC in Illinois?
Failing to file your Illinois annual report on time can lead to serious consequences, including: Late Fees A $100 penalty for corporations and LLCs. Loss of Good Standing Can impact financing and business operations.
What happens if an LLC does not file an Annual Report?
If you fail to file a required annual or biennial report, you can face stiff penalties. These can range from fines imposed by the state to the state administratively dissolving or revoking your entity. Administrative dissolution means that you can no longer legally conduct business in a state.
Related links
2020 Annual Report
In 2020, the COVID-19 pandemic presented unexpected challenges to our business, tenants, employees and the communities in which we operate.
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