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What happens if 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.
What happens if I forgot to file an 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 Often, missed annual filings are not caught until the entity has already been revoked.
Is it mandatory to prepare an annual report?
Obligation to prepare Annual Report- The board of every company shall within six months after the balance sheet date of the company, prepare an annual report on the affairs of the company during the accounting period ending on that date.
How much is the annual report fee in Kentucky?
The annual report (AR) is a yearly publication by the company and is sent to the shareholders and other interested parties. The annual report is published by the end of the Financial Year, and all the data made available in the annual report is dated to 31st March.
What happens if you dont file an annual report?
Your annual report must be signed, dated and accompanied by a $15 filing fee.
Kentucky Annual Report Service Filing Instructions. Every Kentucky corporation, nonprofit, and LLC must file an annual report each year to the Commonwealth of Kentucky. Below, youll find an instructional guide for how to file the Kentucky Annual Report yourself.
What happens if an annual return is not filed?
In case a company has not filed its Annual Return for three continuous financial years, then every person who has been a director or is currently the director of the specific company could be disqualified under the Companies Act, 2013 (Know more about Director Disqualification).
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Nov 19, 2020 FORWARD-LOOKING STATEMENTS Certain statements made in this annual report are forward-looking statements that involve risks and uncertainties.
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