The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, it communicates about all the modifications or changes, & it keeps the LLC members informed about the necessary taxes and costs. This article has all the information about the District of Columbia LLC Annual Report filing in the District of Columbia.
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.
On this page, you’ll learn about the following:
- Contents of the Annual Report
- District of Columbia LLC Biennial Report
- Does the District of Columbia Require an Annual Report Filing?
- Why Do LLCs Have to File the Annual Report?
- How to File a District of Columbia LLC Biennial Report
- Seek the Help of a Registered Agent
Contents of the Annual Report
Typically the annual report filed by an LLC in DC (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
District of Columbia LLC Biennial Report
Unlike many states, the state of District of Columbia requires an LLC to file a Biennial report. A biennial report makes sure that all the information provided by the LLC is accurate & updated. This information about the LLC is necessary for the State officials to track the companies’ taxes payment.
In the District of Columbia, instead of an Annual filing of the report, an LLC has to file a biennial report (a report to be filed every two years). Such a report has to include updated information about the company addresses, registered agent addresses, etc.
Does the District of Columbia Require an Annual Report Filing?
The District of Columbia requires an LLC to file a Biennial report every two years to be filed with the office of the District of Columbia Department of Consumer and Regulatory Affairs.
All the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies are bound to file the Biennial Report in the District of Columbia.
Biennial Report Deadline
The District of Columbia Biennial Report is due by April 1st every two years.
Penalties for Non-filing or late filing
If an LLC fails to file the Biennial Report within the prescribed time, the District of Columbia Department of Consumer and Regulatory Affairs charges a late filing penalty 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 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 District of Columbia LLC Biennial Report
In the District of Columbia, an LLC can file the Biennial Report online, by mail, or in person.
Steps to File District of Columbia LLC Biennial Report Online
Time needed: 5 minutes.
To file the report online LLCs have to register with the District of Columbia Government’s official website. If the individual or the LLC is already registered then by signing in to the portal one can start filing the yearly LLC report. Here are the steps to file the LLC annual report in the District of Columbia online.
- Visit the District of Columbia Government’s official website
The first step in filing the Columbia Biennial Report is to visit the District of Columbia Government’s official website.
- You can Log in if you are an existing user or you can create an account
If you have already created an account on the Columbia Government’s official website, then you can simply put the credentials & log in. If you don’t have an existing account, sign up & create one.
- Fill up the required details & file the report
After logging in to the website, choose the option of submitting the Biennial report & file required documents & fees.
Filing District of Columbia LLC Biennial Report By Mail
To file the Biennial Report in the District of Columbia by mail, you can follow the steps as below:
- Click on the District of Columbia Document Management System website.
- Click on the All Documents button.
- Type BRA-25 in the search box.
- Click on the form & the form will automatically download.
- Print the form and attach the required documents.
- Write a check properly to make the payment.
- Send the printed copies of the forms and relevant documents to the Department of Consumer and Regulatory Affairs, Corporations Division, P.O. Box 92300, Washington, DC 20090, with $300 filing fees.
District of Columbia LLC Biennial Report (Domestic & Foreign)
|State Office:||Department of Consumer and Regulatory Affairs, Corporations Division, P.O. Box 92300, Washington, DC 20090. Links to Website, Forms|
|Due Date:||April 1st Every second year.|
|Filing Fee:||The Biennial report filing fees in the District of Columbia are $300 in the second year when the biennial report is submitted. In the first year, there is no fee.|
|Penalty:||If the Biennial Report is filed post-April 1(in the second year), then an LLC will be charged with a $100 late fee. If an LLC doesn’t file the biennial report at all, it may lead to the dissolution of the LLC.|
|Filing Method:||An LLC can file the District of Columbia Biennial report Online Or by Mail|
|Important Information:||A biennial report is as important as an Annual Report & failure to file the same can result in the dissolution of the LLC.|
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:
- Streamlining the mandatory processes & filing.
- Sending or receiving any documents.
- Reminding you about important dates of filing or payment of taxes.
- Simplifying the filing procedures.
- Avoid any penalties.
- Flexibility in working.
- Maintaining Privacy (as it keeps your personal records off the public record)
You can read more about a District of Columbia Registered Agent here.
How Fast Can I Fill District of Columbia LLC Annual Report
You need to file biennial report in District of Columbia. Deadline for filing the biennial report for your District of Columbia LLC is April 1st. However, new LLCs are required to file in the first year itself.
How fast can I fill out a DC LLC annual report? There are many different ways to file your annual report. You may choose to mail it to the DCRA using Form BRA-25, or you can file it online through CorpOnline. Filing by mail takes 15 days, while filing online takes immediate effect. You will receive a courtesy reminder via mail. If you choose to file by mail, you should allow extra time to ensure that you have submitted your filing in time.
In order to file a DC LLC annual report, you must submit it before the deadline. If you miss the April 1 deadline, you will be charged a $100 penalty, and you will only have two months to file your report after that date. If you fail to file your annual report by the deadline, the DC government will administratively dissolve your business, meaning it will lose its protections as a business entity. To reinstate your company, you must fill out an application, pay a $300 fee, and submit all of your past and current reports and late fees. Once approved, it takes approximately 15 days to process your paperwork.
When filing a DC biennial report, you should note that the information you submit is public record. The government can look up your business by using the DC Business Center website. Filing these reports is necessary for all entities. For example, new businesses must file their initial report by April 1 during their first year of operation. Following this, subsequent reports are due every two years, and should be submitted online, by mail, or in person.
Filing an annual report is not a difficult task, but it does require a few key steps. Firstly, you must choose the type of corporation you are. LLCs fall into three categories: business, professional, and limited. The latter category is for certain professionals. If you want to file a corporation, make sure you choose the one that suits your needs the best. Then, fill out the form and pay the filing fee.
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.
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.
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.
The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.
Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.
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 the District of Columbia, 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 District of Columbia.
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.