Colorado LLC Annual Report – File an LLC Annual Report in Colorado


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The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about Colorado LLC annual report filing in Colorado.

An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.

Contents of the Annual Report

Typically the annual report filed by a Colorado LLC (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report  or the annual franchise tax report are

  • Office Address of the LLC
  • Names & Addresses of the Members & managers.
  • Identification Documents
  • Social Security numbers of the key members of LLC
  • The objective of the business of LLC
  • List of all the signatories of the LLC
  • Information of the registered agent, if any

Colorado LLC Annual Report

Unlike all other states, LLCs in Colorado have to file a “Periodic Report”, which is considered an Annual Report. The Periodic Report allows the Secretary of State to track the changes in the company’s addresses or appointments of members. A Periodic Report is an essential document for all types of business entities, including Corporations, LLCs, & Non-profit Organizations. These business entities filing the Periodic Reports are called the reporting entities.

Does the State of Colorado Require an Annual Report Filing?

The State of Colorado does not have any Initial Report Requirements. But, it is mandatory to file the (annual) Periodic Report with the Colorado Secretary of State. 

Although a Limited Liability Company is not required to file an Annual Report with the Colorado Secretary of the State, The Periodic Reports is as important as an Annual or Biennial Report filed in any other state.

All the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies are bound to file the Periodic Report, which acts as an Annual report of the business entity.

Annual Report (Periodic Report) Deadline

The Statement of Information has to be filed every year by the last day of its anniversary month. In case you don’t remember the exact formation date of your LLC – for calculating the anniversary month, you can find it on the Colorado Business Database, and then you can calculate the anniversary date of the LLC.

Penalties for Non-filing or late filing

A Periodic Report is as important as the Annual Report filed in any other state. A Periodic Report has to be filed with the Secretary of State in Colorado for every entity. This filing is so important that there can be penalties for non-filing the said report. The non-filing penalty or the late filing penalties of the Annual report, charged by the Secretary of State, is $40. If the LLC is under a non-filing status for three consecutive months, that LLC will be put into a delinquent status & the Periodic Report Filing will then be charged with the fees of $100.

Why Do LLCs Have to File the Annual Report?

Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,

To Maintain the Accuracy of the Information

An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.

To provide the Correct Correspondence

Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.

To Notify the Government About All the Significant Changes

If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.

To Provide an Activity Log of an LLC

The Annual report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.

To Help You With the One-time Filing of Taxes

The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government. 

To Enable the State to Track the Payments

The government authorities use all the information filed through the annual report, for tracking the payment of State Taxes.

How to file a Colorado LLC Annual report

The Colorado LLC Periodic Report can be filed online, in person, or it can be filed by mail. The Annual Report or Statement of Information as referred to in Colorado must be filed every year by the last day of its anniversary month.

Steps to File Colorado LLC Annual Report (Periodic Report) Online

Time needed: 5 minutes.

Below is the procedure to file the Annual Report (Periodic Report) online.

  1. Visit the Colorado Secretary of State Website

    Your first step to filing an Annual Periodic Report in Colorado is to visit the Colorado Secretary of State website & click on the tab titled Business, Trademarks & Trade Names under Programs & Services Section.colorado-llc-annual-report

  2. Click on “Forms List” under Search & File Heading

    Once you open the Business, Trademarks & Trade Names tab, you will be directed to the page called Business Organizations. Under that title, you will see ‘Search & File’, please select the option of Forms List in that segment.colorado-llc-annual-report

  3. Click on the Periodic Report link

    Upon clicking on the Forms list, you will see the following page. Click on the Periodic Report link to proceed with the report filing.colorado-llc-annual-report

  4. Click on the “Search for your record to file online” link

    When you click on the Periodic Report link, you will be directed to the relevant section on the same page. You will see a heading called General Business Filing. In the table of general Business Filing, the first option will be a Periodic Report. Click on Search for your record to file online.colorado-llc-annual-report

  5. Enter your Business Name or ID number & search.

    Put your LLC name, or if you know the ID number, then the ID number of your LLC in the search box & click on search. Upon opening the list of businesses, click on your ID number written beside your Business name & click confirm to continue with the filing.

Filing Colorado LLC Biennial Report By Mail

There is no offline filing of the Annual Report available in Colorado State. LLCs have to file their Annual Report through online method only.

Colorado LLC Annual Report (Domestic & Foreign)

State Office:Colorado Secretary of State, 1700 Broadway, Ste 200, Denver, CO 80290
Links to Website
Due Date:Every year, by the last date of the Anniversary Month.
Filing Fee:The filing fee of the Colorado LLC’s Periodic Report (Online, in person, or by mail) is $10.
Penalty:The Colorado Secretary of State charges a minimum $40 penalty on a report that is filed late. If the LLC doesn’t file the Periodic Report for three consecutive months, then the LLC shall be considered a delinquent & the filing fee for such LLC shall be $100.
Filing Method:An LLC can file the report Online, in person, Or by Mail
Forms:The form to file the Statement of Information can be found on the Colorado SOS
Important Information:Once a Domestic or Foreign Colorado Limited Liability Company submits the Statement of Information or the Biennial Report along with the prescribed fees to the Colorado Secretary of State, the filing is said to be complete.

Seek the Help of a Registered Agent

Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.

Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:

  1. Streamlining the mandatory processes & filing.
  2. Sending or receiving any documents.
  3. Reminding you about important dates of filing or payment of taxes. 
  4. Simplifying the filing procedures.
  5. Avoid any penalties.
  6. Flexibility in working.
  7. Maintaining Privacy (as it keeps your personal records off the public record)

You can read more about a Colorado Registered Agent here.

How Fast Can I Fill Colorado LLC Annual Report

Deadline for filing the annual report for Colorado LLC is the last day of the 2 months following the company’s registration anniversary. You can file it up to 2 months before the due date.

Whether you have just started a Colorado LLC or you are a current LLC owner, there are certain requirements you need to meet. One of these requirements is to file an annual report. These reports are filed with the Colorado Secretary of State and keep the state informed of changes to the company. The report usually contains information on the company’s finances, costs, and member addresses. It is important to file your report on time to avoid penalties.

There are several options for filing an annual report. You can do it yourself, hire a professional to do it for you, or use an online service. Choosing an online service will help you file the report without the hassle of filing paper forms. You can use the online service to fill in the information and pay the filing fee. This service will also send you reminders when it’s time to file. You can also contact your county recorder to request forms.

Depending on the nature of your business, you may need to file more than one form. For example, if you are applying for an EIN, you need to file Form SS-4. It is also necessary to file a Form SS-4 if you are applying for a merchant account with a payment processor. An EIN is a nine-digit number assigned by the Internal Revenue Service that is used to identify the LLC for taxes. You can also apply for an EIN by mail. The IRS also has information on how to get an EIN online. You may also need to hire a trademark professional to register your business name. This can cost a lot of money.

The Periodic Report is another required form. It can be filed online at the Colorado Secretary of State’s website, but you will also need to provide the business’s registered agent’s name and address. You will also need to pay a filing fee, usually $50. If you miss the filing deadline, you will be assessed a fee of $100. If you are unable to pay, your business will be placed in delinquent status. The Secretary of State will email you reminders about the deadline.

Choosing a good name for your Colorado LLC is important. It needs to be easy to search for, and it can’t contain words that could confuse the government. The company name can be a unique or plural name. You can also use spelling variations to make your name unique. You don’t need to register a trademark if you are using a unique name. It is also important to be aware that the name you choose must conform to Colorado naming laws.

If you are unsure of whether your business name is available, you can check the county recorder’s website. You can also use the Colorado Secretary of State’s business database search to determine whether your business name is available. The database also helps you find the date your business was registered. You can also calculate your LLC’s anniversary date by using the database.

FAQs

Is it essential to file an Annual Report?

Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.

What are the contents of the Annual Report?

A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.

Why is hiring a Registered Agent necessary in filing the Annual Report?

A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.

What do I have to do for the annual business report preparation?

The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.

Do the filing fees change as per the types of companies?

Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.

In Conclusion

In conclusion, we can see that the annual report – which is also called the Franchise Tax Public Information Report is much easy to be filed. However, it is mandatory to file the report on time to avoid any penalties. If you are running an LLC in the state of Colorado, you have to comply with the filing of certain important documents including the annual report or the Franchise Tax Public Information Report as it is named in the state of Colorado.

It is also important to note that once this Public Information Report is filed with the Comptroller of Public Accounts, there is no need for additional filing with the secretary of state.

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