AVOID THE $400 FINE!

Annual Reports are due by May 1st and that date is rapidly approaching. Every business formed before 2014 needs to file a report to keep their business active another year. If this report is not received by May 1st, the state will add a $400 fine to the standard fees. Not filing your report at all by September 4th will result in the state administratively dissolving or revoking the company.

The standard fee to file an annual report for a Corporation is $150 and for a Limited Liability Company the fee is $138.75. After May 1st these will increase to $550 and $538.75 respectively. That is not something you want to pay for no reason. It is completely avoidable!

Remember that when you file the report, that is the time to change any information that needs updating. The type of information that can be updated is your company’s physical and mailing addresses, the registered agent and manager / officer names and addresses.  This change is immediate. Be sure to double check the information though, because if it is mistyped you will need to file an amendment to fix your typing error. That amendment will be an additional $35.

The last item we want to discuss is the “Annual Minutes” or “Annual Corporate Record Forms” notices that people are receiving. This should not be confused with the Florida Department of Corporations’ Annual Reports.  These notices are NOT from the Secretary of State. They are a SCAM! Please disregard these notices.  Neither form is required to keep your business active for another year.

Annual Report filings are done online at www.sunbiz.org, but your team at Licenses, Etc. is always willing and able to take this off your hands!  We are going to be calling most of our clients starting next week. We will try to get to each of you who has not yet filed, but we can’t guarantee that. So please call us if you would like any assistance.