Illinois Annual Report

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Illinois LLC Annual Report

Quick Start Guide
This Quick Start Guide is a brief overview of how to form an LLC in Illinois.

Detailed Lessons:

 

Illinois LLC Costs:
Illinois LLC filing fee: $150
Illinois LLC annual report: $75

Need to save time?
Hire a professional to form your LLC in Illinois:
Northwest ($39 + state fee) or LegalZoom ($149 + state fee)

(check out Northwest vs LegalZoom)

Note: Illinois LLC fees have been reduced. If you see higher state fees on another website, that information is outdated. For details on the new fees, please see: Illinois LLC filing fees reduced

After you form an LLC in Illinois, you must file an Annual Report and pay a $75 fee every year.

You need to file your Annual Report in order to keep your Illinois LLC in compliance and in good standing with the Illinois Secretary of State.

Illinois LLC Annual Report fee:

$75 per year. This is paid once per year for the life of your LLC.

Annual Report due date:

Your Illinois LLC Annual Report is due before the first day of your LLC’s anniversary month.

Your LLC’s anniversary month is the month that your LLC was approved.

For example, if your LLC was formed on June 15th 2018, June is your anniversary month. Therefore, next year in 2019, your LLC’s Annual Report is due before June 1st 2019. Then every year going forward, it’s also due before June 1st.

However, instead of waiting until your anniversary month to file, we recommend filing as early as possible in order to avoid a potential $100 penalty (discussed in more detail below).

How early can you file?

You can file your LLC’s Annual Report 45 days before the 1st day of your LLC’s anniversary month.

Using our example from above, if your LLC’s anniversary month is June, that means you can file your Annual Report as early as the middle of April.

Methods of filing:

You can file your LLC’s Annual Report by mail or online. The Annual Report fee is $75 regardless of the method of filing you choose.

• If you file your Annual Report by mail, it takes the Illinois Secretary of State 10-15 business days to process your filing.

• If you file your Annual Report online, your filing is processed immediately.

You will find instructions below for both the mail filing and the online filing.

What will you get back from the state?

• If you file your Annual Report by mail, by default, the Illinois Secretary of State doesn’t send you back any proof or confirmation. However, if you send the state 2 copies of your Annual Report along with a self-addressed stamped envelope, they’ll send you back a confirmation in the mail.

• If you file your Annual Report online, you’ll be able to save and print a confirmation page. Additionally, the Illinois Secretary of State will email you a confirmation.

Penalty:

If your Annual Report is 60 days late:

The state charges a $100 penalty, which is on top of the base fee. Meaning, in addition to the $75 Annual Report, you’re also paying a $100 penalty ($175 total).

The penalty used to be $300, but the Illinois LLC Act was amended by House Bill 4578 (Section 50-15). As of 1/1/2019, the LLC Annual Report late penalty is now $100.

If your Annual Report is 180 days late:

The Secretary of State will administratively dissolve (shut down) your LLC.

Annual Report Reminders:

Annual Report forms and reminders will be mailed to your Registered Agent 45 days before they are due.

If you plan to file your Annual Report online, you can ignore the Annual Report forms the state mails with the reminder.

Important: Even if no reminder is sent, it’s still your responsibility to file your LLC Annual Report on time every year. For that reason, we recommend putting a repeating reminder on your phone and/or calendar.

Illinois LLC Annual Report Online

1. Start here: https://www.ilsos.gov/llcarpt/

2. Enter your LLC’s File Number and click “Continue”.

You can find your LLC’s File Number on the Welcome Letter you received from the state, or by searching your LLC name here and looking for “File Number” at the top.

3. Confirm that the above LLC is correct, then click “Continue”.

4. Review that your Registered Agent information is correct and then click “Continue”.

Note: You can’t change your Registered Agent during this online filing. If you need to change your Registered Agent, you must do so using a different form (Change of Registered Agent) and file it by mail.

5. Review your Principal Place of Business address. If no changes are needed, select “Yes” and then click “Continue”. If changes are needed, select “No”, update your information, and then click “Continue”.

6. Review the names and addresses of the LLC’s Members or Managers.

Confirm whether the information is correct and whether or not you need to add more Members or Managers. Then click “Continue”.

(related article: difference between LLC Members and Managers)

7. Select which Member/Manager is submitting the LLC’s Annual Report.

If the person filing this Annual Report is an individual person, select “No” at the bottom.

If the person filing this Annual Report is a company, select “Yes” at the bottom and then enter the name and title of the person signing on behalf of the company.

Then click “Continue”.

8. Enter the name of the person paying (must match credit card info). Then enter their phone number, email address, and then click “Continue”.

9. Review your information and click “Proceed to Payment”. Then enter your credit card information and your phone number. Click “Next” to submit your payment and file your Annual Report with the Secretary of State.

Congratulations! Your Illinois LLC Annual Report has been successfully filed online.

Processing Time and Verification (online filing)

When filing online, your Annual Report is processed right after payment is made. Then a few minutes later you will receive an email from the state. The email will include a receipt and a copy of your filed Annual Report.

You can now proceed to the next lesson.


Illinois LLC Annual Report by Mail

Download the Illinois Annual Report Form (Form LLC-50.1):
http://www.cyberdriveillinois.com/publications/pdf_publications/llc501.pdf

How to Complete the Annual Report Form

1. Enter the name of your LLC. Then the name and address of your Illinois Registered Agent. The address of your Registered Agent must be located in Illinois. The address must be a street address.

2. Enter “Illinois” on the first line and then enter the date your LLC was formed. You can find this date on your stamped and approved Articles of Organization or by searching your LLC name here and looking for the “File Date”.

3. Enter your LLC’s Principal Place of Business address (PO boxes are not allowed). This address can be located in Illinois or it can be located in any state.

4. Enter the name and address of your LLC’s Managers or Members.

Tip: Most LLCs are Member-Managed. If you don’t understand Member-managed LLCs vs. Manager-managed LLCs, please see this article: Member-managed LLC vs Manager-managed.

5. Nothing needs to be entered here.

6. Nothing needs to be entered here. This statement is just letting you know that you can’t change your Registered Agent with the Annual Report form. If you need to change your Registered Agent, you must do so using a different form (Change of Registered Agent).

7. Enter today’s date. Then sign your name above “Signature” and enter your name and title above “Name and Title” (Ex: John Doe, Member or John Doe, Manager).

“If applicant is a company or other entity…” – You can leave this blank. This doesn’t apply to most filers.

Payment and Mailing Instructions for Illinois Annual Report

Prepare a check (personal checks are accepted) or money order for $75 and make payable to “Secretary of State”.

Mail your $75 fee along with your completed Annual Report to:

Secretary of State
Department of Business Services
Limited Liability Division
501 S 2nd Street, Room 351
Springfield, IL 62756

Congratulations, your Illinois LLC Annual Report has been filed for processing!

Processing Time and Verification (mail filing)

The state will process your Annual Report within 10-15 business days. They do not send anything back in the mail as a receipt. Your cancelled check will serve as your receipt.

If you’d like a more official receipt, send 2 copies of your Annual Report along with a self-addressed stamped envelope. The state will mail you back an approved copy of Annual Report.

Next Step

Once you’ve reviewed this lesson or filed your LLC Illinois Annual Report, you can then proceed to the next lesson: Illinois Business Licenses & Permits.

Illinois Secretary of State Contact Info

If you have any questions, you can contact the Illinois Secretary of State at 217-782-6961. If you can’t get through on the above number, call 217-782-6875 and ask to be transferred to the Limited Liability Department.

Matt Horwitz
Founder & Educator, LLC University®
Forming an LLC shouldn't be so complicated. Our step-by-step guide will make the process a breeze – and no complex legal jargon! LLC University® teaches people how to form an LLC for free in all 50 states. We hope you find our free guides and resources helpful in your business journey.
Disclaimer: Nothing on this page shall be interpreted as legal or tax advice. Rules and regulations vary by location. They also change over time and are specific to your situation. Furthermore, this comment section is provided so people can share their thoughts and experience. Please consult a licensed professional if you have legal or tax questions.

6 Comments

  1. Renee January 12, 2018

    If I am dissolving my business the month the annual report would be due, do I still need to file and pay for an annual report form? I sent in the form with the fee to dissolve my business and they returned it all along with the request for the annual report. I don’t understand. I had called and spoke to the office and did exactly what they asked….and then I got it all returned.
    Also, what happens if I do nothing?

    reply
    • Matt Horwitz January 15, 2018

      Hi Renee, I haven’t run across this yet, so I’m not 100% sure. I recommend calling the Secretary of State again to clarify. I’d have someone from our team call and check on this for you, but it’s currently after hours. I’m interested to hear what you come up with though, so feel free to keep me posted. Thanks.

      reply
  2. Saaqib Patangiya October 15, 2018

    Hii Matt,

    I am just starting my new LLC. I am just not sure about some things my new LLC agent is charging me so I just want to verify is everything good or not.

    1)$99- record book keeping,Ownership Certificates and Seal.
    2)$99- Business License Compliance Package

    I asked him and he says me one thing you need this things because if you get sued by anyone or if you need to go to the court. You will need this document for your records.

    I just want to ask is, Is it very important or compulsory to make it. Or it is just crap or just money taking tactics. I want to do documentation but not just wasting my money.

    reply
    • Matt Horwitz October 15, 2018

      Hey Saaqib, that’s incorrect information. Can I ask which company is telling you this? Neither of those are “required” to form an LLC. Hope that helps.

      reply
    • Saaqib Patangiya October 16, 2018

      This is by incauthority.com.

      reply
      • Matt Horwitz November 22, 2018

        Thanks for letting us and the other readers know Saaqib. It’s unfortunate you received misleading information like that.

        reply

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