Vermont LLC Annual Report: Requirements and How to File

Vermont LLC annual report

Every LLC in Vermont is required to file an annual report if they want to remain in good standing. The annual report fee and timing may vary by the type of business, but as an LLC, you will definitely have to file one every year. If you fail to do so, you may face consequences—either additional charges on top of your filing fee or potentially facing dissolution of your business.

It’s also important to note that the state government won’t remind you that your annual report is due; they will only let you know if you have missed the deadline. Therefore, it’s critical you stay on top of things yourself. If you don’t think that’s your bailiwick, no problem! We’ll also discuss a professional solution for filing your report and paying your fee on time.

Ready? Let’s dive in.

What to know about an annual report in Vermont

So just what is an annual report? In a nutshell, it’s a document updating the state of Vermont on your basic business details. These include your address, your registered agent’s name and contact information, your company’s principal officers and directors, and other basic info.  

What’s the purpose of an annual report? Essentially, the goal of the Vermont LLC annual report is to tell the state if you have changed any of your most important details, so they’ll always be able to get ahold of you.

LLCs must pay a $45 filing fee along with the annual report. Both the report and the fee are due within 3 months of the end of your fiscal year, which may vary depending on your budgetary decision-making or when you started your business.

How to file an annual report in Vermont

So how do you file your Vermont LLC annual report? Excellent question. Let’s take a look at the specifics now so that you won’t have any surprises down the road.

Fill out the form with the required information

The Vermont LLC annual report requires only basic information, but you must fill it out completely or risk it not counting. Remember, the state wants to know where to contact you if they need you, so your information must be fully up to date.

That information includes:

  • LLC business name: This is simply the name of your business. If you have a DBA (doing business as) that is the one you use for legal filings, use that.
  • Vermont business ID: Your identification number was given to you when you started your business. If you aren’t sure where to find it, log in to the Vermont Business Services Division portal to find it.
  • Primary business and mailing address: This is where you do business every day. If you don’t have a brick-and-mortar address (because you telecommute, say), then you will use the address of your registered agent.
    If the primary business address and the registered agent address (where your agent receives import tax and legal information) are different, you’ll need to list them both.
  • Business email address: Vermont requires you to file your annual report online (even if you choose to print it out and mail in a physical copy afterward), so you will need an email address.
  • Names of primary members: You will also need to list the names and addresses of all directors, officers, members, and partners in your LLC.
  • Month your fiscal year ended: You must list the month your fiscal year ended. That way, the state can determine whether you have filed on time.
  • Signature: Someone will need to sign the form and take responsibility for the accuracy and veracity of its contents. If you own the LLC, that’s you. If you own it in partnership with others, make sure everyone is on the same page.
    The state does not require an original signature. A digital one is fine.

Choose one of the filing options: online, by mail, or with a compliance service

Online

The default filing system is through the Vermont Secretary of State Business Services Division. Even if you want to mail in your report, you must start here. Specifically, you should:

  1. Navigate to the annual/biennial report filing page.
  2. Read all the information that pertains to you lower down on the screen before proceeding.
  3. Select the blue button on the left that says “File Annual Report” (the biennial report button is only for nonprofits, so you can ignore it).
  4. Click the button, which will take you to the Vermont Business Services Division portal.
  5. Click “Login” in the upper right corner, which will take you to the login page; you can also just start your journey here, but it’s helpful to know both pathways so you can read the pertinent information before filing).
  6. Enter your email address and click “Continue.”
  7. If you do not yet have an account because this is your first time filing, you will need to create one at this time.
  8. Follow the prompts to file your report.
  9. Make the online payment and submit the report.

By mail

If you really wish to pay with a check, you can print out your annual report. To do this:

  1. Wait until you get to the payment page.
  2. Navigate to the bottom of the payment screen.
  3. Choose “I Want to Print & Mail With Check.”
  4. Follow the instructions to print out your report.
  5. Make note of the correct address and addressee for your check.
  6. Send the report in along with the $45 filing fee.

Compliance service

If you prefer to avoid the chore of filing your report and are happy to have someone else take care of it, you can use a compliance service. For a small additional fee, a professional such as Tailor Brands will complete and submit your documentation along with the annual report fee.

If you’re not naturally detail-oriented, this is a smart choice, and Tailor Brands is happy to help. We’re always here, so you can go on vacation, take time off, or simply focus on what you do best without worrying whether you’re following all the necessary state requirements. We’ve got your back.

Pay the fee

Follow the steps above to pay the $45 filing fee at the same time you file your Vermont LLC annual report. Or, if you choose to use a service, they’ll handle this for you along with the documentation.

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

According to the state website, filing your Vermont LLC annual report is how you renew your business registration with the state. Failing to do so will mean you’re not in compliance, and you could lose your license.

Therefore, you should either make a note to file your Vermont LLC annual report within 3 months of the end of your fiscal year and pay the annual report fee, or you should get help. More specifically, you could face:

Late fees and fines

In addition to the $45 annual report fee, which you will still owe, you will also face a fine of $25 for late filing.

Penalties

The state of Vermont is pretty gentle about the annual report filings. There are no additional penalties for late filing.

Dissolution 

However, if you wait too long, you may have your business license revoked or your business dissolved. If that happens, you will have to start a new business under a new name, which is no one’s idea of a good time.

Final thoughts

The Vermont LLC annual report is neither difficult nor extensive, but that doesn’t stop many business owners from forgetting about the annual report itself or the annual report fee. The fact of the matter is, unless you went into business to do paperwork, most LLC owners just aren’t that into it, and that’s okay.

If that sounds like you, we’ve got a solution: Let Tailor Brands help. Our friendly and experienced team has helped busy business owners focus on what really matters.

Interested in learning how we can help you? Get in touch with us today.

FAQs

Yes, you must file a Vermont LLC annual report every year, as the name suggests.

The annual report consists of your LLC business name, your Vermont business ID, your primary business and mailing address, your business email address, the names of primary members, the month your fiscal year ended, and a digital signature.

The annual report fee is only $45. If you don’t file on time, you face an additional filing fee of $25.

Yes. In addition to the $25 late fee, you risk losing the state dissolving your business if you don’t make it right.