Starting an LLC in Georgia comes with both benefits and responsibilities. Georgia, like most states, requires LLC owners to file an annual report with the Secretary of State each year.
The LLC annual report is a required document that provides detailed information about your business operations over the past 12 months. The Secretary of State’s office reviews the report to determine if you are operating your LLC within state guidelines.
You must file the annual report and keep your LLC in good standing to continue operating a business in Georgia. The current annual report fee in Georgia is $50. Your county may also refer to the annual report as a periodic report or statement of information.
Georgia requires all LLC owners to provide the information listed below in the annual report. Be sure to update any details that have changed since you submitted your annual report last year.
You are ready to file your annual report with the Secretary of State once you have gathered the above information. Georgia provides several annual report filing options to make it as convenient as possible for LLC owners.
The Secretary of State’s office must receive your annual report by April 1 each year. You can also choose to file the annual report any time after January 1 of the current calendar year. However, you cannot submit your report any earlier, or the state will not apply it to the correct year.
If nothing has changed in your annual report from last year to this year, you can follow the instructions for one-click registration without having to log onto the Secretary of State’s website. You should follow this link to submit an annual report with changes. The online filing fee is $50, and the state only accepts Visa, Mastercard, American Express, or Discover for payment.
The one-click registration option allows you to choose whether you want to submit a report for the current calendar year only. If you do not expect any changes in the next few years, you can choose to submit a report for the next two years or the next three years at the same link. You will need to complete online registration if you are using the system for the first time.
Should you prefer to mail the form, you can download and print it at this link. This option costs an additional $10, so you will need to make your check or money order payable to the Georgia Secretary of State in the amount of $60. Here is the address to mail your completed form and fee:
Office of the Secretary of State
Corporations Division
2 Martin Luther King, Jr. Dr. SE
Suite 313, West Tower
Atlanta, GA 30334
Submitting an incomplete form will result in processing delays, and the state could consider your LLC out of compliance. You have the option of outsourcing your annual report filing responsibilities to a company that offers annual compliance as part of its services.
Using a compliance service offers you valuable peace of mind because you know your representatives stay on top of deadlines and filing requirements. The compliance service will submit proof of filing your LLC’s annual report and can even prepare the report for you.
Forgetting to file an annual report or trying to complete it at the last minute and not submitting it on time are common problems among busy LLC owners. However, the Georgia Secretary of State expects a timely, accurate report each year and will assess penalties if this does not happen.
Georgia imposes a $25 fine against LLCs that do not submit an annual report by the April 1 deadline. You have 60 days to get the report in without facing additional consequences.
When you do not file your LLC’s annual report or fail to submit it on time, you run the risk of losing your good standing status with the state. Banks may not allow you to open or maintain a business checking or savings account. You could also run into trouble when applying for credit on behalf of your business.
Here is what you must do to get your business back into good standing in Georgia once you have missed an annual report filing deadline:
Georgia has the legal right to dissolve your LLC if you do not file the annual report within 60 days of missing the deadline. This action effectively puts you out of business permanently.
While preparing and submitting a Georgia LLC annual report may seem cumbersome, the state requires it for legitimate reasons. The annual report helps maintain the accuracy of information about your LLC, including current contact information. Other common examples include changing the registered agent or adding or deleting an LLC member.
Your LLC’s annual report is also beneficial for members and managers to track internal progress. Seeing the growth and changes in print can be encouraging and provides motivation when the LLC is not moving in the direction you would like.
This portion of our website is for informational purposes only. Tailor Brands is not a law firm, and none of the information on this website constitutes or is intended to convey legal advice. All statements, opinions, recommendations, and conclusions are solely the expression of the author and provided on an as-is basis. Accordingly, Tailor Brands is not responsible for the information and/or its accuracy or completeness. It also does not indicate any affiliation between Tailor Brands and any other brands, services or logos.
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