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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.
Domestic Illinois Professional Corporation Annual Report Requirements: Agency:Illinois Secretary of State - Business Services Department Form: BCA 14.05 D: Domestic Corporation Annual Report Filing Method: Mail or online. Agency Fee: $75 annual report fee + franchise tax (varies) +$1.69 transaction fee5 more rows
Typically, however, the annual report must include, at a minimum: The companys legal name. In the case of a foreign company, the fictitious name it qualified under, if any. The principal office address in the state, if any.
Not every state requires annual reports. For example, Arizona doesnt mandate them for either LLCs or corporations. In Idaho, both LLCs and corporations need to file them every year, while in Pennsylvania, LLCs and corporations need to file them every ten years.
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.
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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.

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