Annual Compliance Requirements for U.S. LLCs

Keeping your LLC in good standing requires meeting several annual compliance requirements. Missing deadlines can result in penalties or even dissolution of your company.

Annual Reports

Most states require LLCs to file an annual report (sometimes called a “statement of information”). This report confirms your company’s current information — registered agent, principal address, and members/managers. Filing deadlines and fees vary by state.

Franchise Taxes

Some states impose an annual franchise tax on LLCs regardless of income:

• Delaware: $300/year
• California: $800/year minimum
• Wyoming: $60/year (annual report fee)
• New Mexico: $0

Failing to pay franchise taxes can result in your LLC being administratively dissolved.

BOI (Beneficial Ownership Information) Report

The Corporate Transparency Act requires most LLCs to file a Beneficial Ownership Information report with FinCEN. This report identifies the individuals who own or control the company. New companies must file within 90 days of formation.

Registered Agent Requirement

Every LLC must maintain a registered agent in its state of formation. The registered agent receives legal documents and official correspondence on behalf of your company. If your registered agent service lapses, the state may revoke your LLC’s good standing.