Utah LLC Annual Report: Requirements and How to File

Utah LLC annual report states map hand filling a report

Operating an LLC in Utah requires meeting certain legal obligations, including filing an annual report with the state. While this may seem like busywork, staying current on your Utah LLC annual report is essential for maintaining active business status.

This is a comprehensive guide on everything you need to know about the Utah LLC annual report, from requirements to filing steps to consequences of not filing. Keep reading for tips to keep your LLC compliant and in good standing.

What to know about an annual report in Utah

An annual report is a document that provides updated details about your LLC to Utah regulators each year. Most states require LLCs to submit these reports annually to preserve active status within that state.

Here are some key facts about the Utah annual report filing requirement:

  • Purpose: The report gives important information about your LLC to the state, including leadership changes, contact information, business activities, and more. This allows them to maintain current records.
  • Filing Cost: The fee to file your Utah annual report form is $100. This must be paid every year you submit the report, otherwise it will not be processed.
  • Due Date: The deadline for filing is December 31st each year for LLCs formed in Utah. Be sure to calendar this date so you remember to file on time.
  • Required Information: You will need to provide information like your LLC name, address, leadership names, registered agent details, business purpose, EIN, and more.
  • Filing Options: You can file online, by mail, or through a service for Annual Compliance. Each has different costs and timelines.
  • Late Fees: If you miss the December 31 deadline, Utah assesses escalating late fees and fines until you get your report submitted.
  • Dissolution: If your LLC goes multiple years without filing, Utah may revoke your active business status and registration altogether. You’ll need to reinstate to regain good standing.

Why is filing the annual report important?

You may wonder why the annual report is mandatory if you already properly registered your LLC with the state. There are a few key reasons Utah requires LLCs to file reports annually.

First, the annual report provides updated information to the state about your LLC’s leadership, contact details, and other information that can change from year to year. Having current details on file ensures the state has accurate records for your business. Additionally, the annual report serves as a compliance tracking mechanism, giving Utah insight into which LLCs are staying current with state regulations and requirements each year.

On a broader level, aggregate data from annual reports helps Utah identify trends and evaluate the overall business health of the state as well. Filing the report also shows your LLC intends to continue actively operating in Utah year after year, preserving your status as an authorized business.

Finally, reporting annually helps you avoid administrative dissolution or revocation of your LLC’s registration, since you are demonstrating compliance. In short, staying current on your annual report keeps your LLC visible, compliant, and legally able to operate in Utah each year.

How to file your annual report in Utah

Now that you understand the importance of the annual report, let’s look at the steps to actually file it:

Gather the required information

The Utah Division of Corporations and Commercial Code annual report form requests the following information about your LLC:

  • Official LLC Name and Entity Number
  • Primary Business Address
  • Names and Addresses of All Members and Managers
  • Business Purpose and Industry
  • Registered Agent Information (Name, Address, Signature)
  • Federal EIN Number
  • Name and Address for Each Organizer/Manager

Having these details ready will allow you to easily complete the report.

Choose one of the filing options 

You have three options for submitting your finished Utah annual report form and fee:

  1. File Online: You can file digitally through the Utah Division of Corporations and Commercial Code website. This is the fastest and most convenient method. Cost is $100.
  2. File by Mail: Mail your report and payment to PO Box 146705, Salt Lake City, UT 84114-6705. Processing takes 2-3 weeks. Cost is $100.
  3. File Through a Service: Use a service and they’ll handle filing for you. Cost starts at $125 per year.

Consider which option best fits your needs in terms of time and convenience.

Pay the filing fee

No matter how you choose to file, you must include the $100 annual report fee made payable to the Utah Division of Corporations. You can pay via credit card (online), check (mail), or through your filing service. Reports will not process without the fee.

Be aware of the December 31 deadline

Utah LLC annual reports must be filed by December 31 each year. Missing this deadline can lead to late fees and penalties, so mark your calendar! Consider setting a reminder a few weeks prior as well to leave time to collect information and file properly.

What happens if you fail to file on time?

If your Utah LLC does not file its annual report and pay the $100 fee by December 31st, there can be serious consequences:

Late Fees and Fines

If you file late, Utah assesses penalties including:

  • Late Fee: $40 per year filed late
  • Monthly Fine: $50 assessed each month you remain delinquent

These fees add up quickly, so file ASAP if you miss the deadline.

Administrative dissolution

If your LLC disregards the annual report filing requirement for multiple years and accrues fines, Utah may revoke your active business status through administrative dissolution. You’ll then need to complete reinstatement to regain good standing.

Revocation of registration

In severe cases of delinquency, Utah can revoke your LLC’s registration altogether, meaning you can no longer legally do business in the state until the issues are resolved.

Clearly, staying current on your annual report obligations is critical for Utah LLC owners. Use calendar reminders and enlist help of a compliance to avoid any penalties.

How to reinstate an administratively dissolved LLC

If you find your Utah LLC was administratively dissolved due to unfiled annual reports, don’t stress. You typically can reinstate your business by:

  • Filing any delinquent annual reports
  • Paying all accrued fees and penalties
  • Completing reinstatement paperwork and paying the filing fee (usually $50-100)

This will clear up the compliance issues, so Utah can restore your LLC’s active status. However, reinstatement is time-consuming, so staying on top of your reports is wise.

Stay compliant

While completing your Utah LLC’s annual report may feel tedious, staying current and compliant with this legal requirement is critical for maintaining your active business status and authorization to operate in the state. Additionally, set calendar reminders each year to ensure you never accidentally miss a deadline. Consider enlisting help from a service like we offer to ensure your LLC remains compliant, saving you the time and hassle of handling this annually.

Most importantly, be sure to leverage the knowledge in this guide to keep your Utah LLC active and authorized to conduct business in the state each year. Smart compliance practices will support your LLC’s success and growth for years to come.

For any other questions not covered here related to Utah LLC annual report filing, reviving a dissolved LLC, or keeping your business legally compliant, our business experts are here to help. Contact us anytime for guidance tailored to your LLC’s specific needs.

FAQs

The report asks for your LLC’s name, address, leadership names, registered agent details, business purpose, EIN, and organizer/manager names and addresses. Having this information ready makes filing fast and straightforward.

The deadline to file is December 31 each year. Be sure to calendar this date so you remember to file on time and avoid any late fees.

The filing fee is $100 per year, payable when you submit the report to the Utah Division of Corporations and Commercial Code. Without the fee, your report will not be processed.

If you file late, Utah charges escalating penalties, including a $40 late fee per year and $50 monthly fines until you file. After multiple years, they may revoke your LLC registration entirely.

Yes, you can complete and submit the report digitally through the Utah Division of Corporations and Commercial Code website. This is typically the fastest and most convenient filing method.

You can usually reinstate a dissolved LLC by filing any delinquent reports, paying all fees/fines owed, completing reinstatement paperwork, and paying the $50-100 reinstatement filing fee. This restores your active status.