Idaho LLC Annual Report: Requirements and How to File

Idaho LLC annual report

Every LLC in Idaho must file the Idaho LLC Annual Report. The purpose of this report is to keep contact information and other critical info up to date with the Idaho Secretary of State. The LLC Annual Report is an absolute requirement; failure to file can result in the dissolution of your LLC.

You can remember the deadline and file the annual report with the Secretary of State yourself. However, you may choose to work with a third-party service to keep track of deadlines, gather the information, and actually produce the report for the SOS. This kind of service is particularly useful for LLCs that do business in more than one state. Each state has its own rules, deadlines, forms, fees and penalties. Some states require more than Idaho’s straightforward reporting requirements. They may ask for details about, for example, assets, revenue, and capital. A service can keep you from running afoul of any state’s regulations, which could compromise your ability to operate in that state.

What to know about an annual report in Idaho and state requirements

The Idaho LLC Annual Report ensures that the Secretary of State’s office has up-to-date and accurate information on the essential details about every Idaho LCC. This includes details such as the LLC name and address, the registered agent, and the owners. It enables the SOS to maintain key information about each LLC registered in the state.

The report is due every year by the last day of the month in which the LLC was approved. If you are unsure of this date, you can find it on your Certificate of Organization. You can also do an LLC business search in Idaho and look for your Filing Date.

There is no fee if the report is filed online. The State of Idaho strongly recommends that LLCs file documents online, and it provides a robust system called SOSBiz for them to do so.

How to file an annual report in Idaho

Every Idaho LLC should have an SOSBiz account with the state. If you filed your articles of organization by mail and have not yet created an account, you will need to do so. Here is the step-by-step process for creating and filing your Idaho LLC Annual Report.

Create an Idaho SOSBiz account and link your LLC

If you already have an account associated with your LLC, bypass this step. Otherwise, create an account and link your LLC to it:

  • At the SOSBiz Login page, click Create An Account.
  • Enter you personal name and your email address.
  • Create a password.
  • Log in to your new account.
  • On the business search page, find and select your LLC.
  • Click Request Access. A PIN will be sent to your email.
  • Enter the PIN.

Now your LLC is linked, and you’re all set to create your report.

Navigate to the SOSBiz annual report page

  • Sign in at the SOSBiz Login page.
  • Select My Records
  • Select your LLC name.
  • Select File Annual Report.

An annual report icon will appear on your page when your annual report is due within 60 days. This is the only reminder you will receive that your annual report deadline is approaching. At one time, SOS sent reminder postcards, but this is no longer the case.

Update the required information

There are approximately seven screens to navigate through. The fields will already be filled in, and you need to reenter only those that have changed.

Entity details

This is the permanent information about your LLC. You cannot change it on the annual report.

Registered agent

If your registered agent has not changed, there’s nothing for you to do here. However, you can use this screen to actually change your registered agent while filing the report. You can appoint a new registered agent to replace your existing one. You can also retain your current registered agent but update their name and address.

Governors

Every Idaho LLC must have at least one governor on file. This individual will be either a member of a manager, depending on whether the company is a member-managed LLC or a manager-managed LLC. Update the person’s details only if there has been a change.

Review and sign

Many LLCs will have no changes to make to the report. Whether or not you’ve actually made changes, you should review all the pages for accuracy before signing. When you’re satisfied, review the terms and check boxes to indicate that you agree. Enter your full name, which electronically signs the report. Enter your capacity as either a member, a manager, or an authorized person.

File the report

The easiest way to do this is to file online. Just click File Online to complete the submission. However, if you choose, you may print your annual report, sign it, and mail it in. The address is Secretary of State, 450 N 4th Street, PO Box 83720, Boise, ID 83720-0080.

Online filings are processed immediately. If you mail your annual report, it will be processed in seven to 10 business days.

If you have any questions, you can call the Secretary of State at 208-334-2301. The phone line is available weekdays from 8 AM to 5 PM Mountain Time.

If you are working with a third-party compliance service, they will take care of all these filing details for you.

There is no LLC Annual Report filing fee in Idaho, but it’s absolutely imperative that you do file and that you file on time.

What Happens if you fail to file on time (or at all)?

There is no late filing fee or penalty in Idaho. However, if you have still not filed 60 days after the due date, your business could be administratively dissolved. If you are dissolved, you can no longer do business as an LLC in Idaho. You will lose the protection that the state and federal tax authorities afford LLCs, and you will not be able to use your LLC name or enter into contracts.

If you want to continue to operate after your LLC has been dissolved, you will have to apply for reinstatement. The form for doing this is available at the SOSBiz site. The fee is $30 or up to $100 for expedited service.

Final thoughts

Every Idaho LLC must file an annual report, each year, by the last day of the month in which the LLC was originally improved. There is no fee for this filing, but submitting the report is critical. If you do not file within 60 days of the deadline, the state may dissolve your LLC. If that happens, you cannot legally do business as an LLC until you file for reinstatement and pay a fee.

Fortunately, the filing process in Idaho is straightforward. The state strongly recommends that LLCs file online, and the Secretary of State maintains an SOSBiz website that facilitates this. In many cases, an LLC manager will not need to update any information but will merely have to validate that the SOS’s information is correct, then sign and submit the form.

Not every state has a process as straightforward as Idaho does. If you have an LLC that operates in several states, you may be well-served to engage a third-party service that files your annual reports for you. This way, you will never need to worry about missing a deadline or rounding up the information that is required for the report.

FAQs

The report can be filled out at the Secretary of State’s SOSBiz website. You can either submit the report online or print and mail it.

There is no fee. However, filing is mandatory.

It’s due the last day of the anniversary month in which your LLC was originally approved.

There is not a late fee. However, if you still haven’t filed 60 days after the due date, your LLC could be administratively dissolved. If that happens, your LLC cannot do business until you file for reinstatement and pay a fee.