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 Montana LLC annual report filing in Montana.
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
- Montana LLC Annual Report
- Does the State of Montana Require an Annual Report Filing?
- Why Do LLCs Have to File the Annual Report?
- How to File a Montana LLC Annual Report
- Seek the Help of a Registered Agent
Contents of the Annual Report
Typically the annual report filed by a Montana 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
Montana LLC Annual Report
An Annual report is essential for all business types. It authenticates that the information provided to the Secretary Of the State is accurate & updated. The information provided in the annual report helps the State officials to ensure that all the companies pay taxes. The Montana Annual Report is filed with the Montana Secretary of State.
Does the State of Montana Require an Annual Report Filing?
If you have a business in Montana, you must file the annual report with the Montana Secretary of State. This includes all the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies, bound to file the Annual Report.
Annual Report Deadline
As mentioned above, filing the Annual report is a mandatory requirement even for an LLC. An LLC operating in Montana has to file the Annual report with the Montana Secretary of State on April 15th every year.
Penalties for Non-filing or late filing
Any business failing to file the report by April 15th; will be charged with $15 late fees & may lose its good standing with the Montana state. Failing to file the annual report altogether may cause the dissolution of the LLC.
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 Montana LLC Annual Report
The Montana LLC Annual Report can only be filed online through Montana Epass. An LLC operating in Montana has to file the Annual report with the Montana Secretary of State on April 15th every year.
Steps to File Montana LLC Annual Report Online
Time needed: 5 minutes.
Below is the procedure to file the Montana LLC Annual Report online.
- Visit Montana Government’s Official Website.
The first step in filing the Montana Annual Report is to visit Montana Government’s Official Website.
- Log in to the Epass Account.
Log in to the Epass Account if you have an existing account, or you can start an Epass by creating a new account.
- Close the Tab.
After logging in to the Epass account you may close the tab.
- Open the Montana Secretary of State website
After logging in to the Epass account, you remain logged in even if you close the tab. Now open the Secretary of State Site.
- Click on the Business & UCC tab.
On the Secretary of State Page, click on the Business & UCC tab.
- Click on the “File an Annual Report” box.
Scroll down & click on the File an Annual Report box.
- Enter your Business Name.
Enter the name of your business in the search box.
- Click on the “File my Renewal” option.
Choose your business name from the search results & click on the File my Renewal option in front of it. Start filing the Annual Report.
Monatna LLC Annual Report (Domestic & Foreign)
|State Office:||Montana Secretary of State, PO Box 202801|
Helena, MT 59620-2801
Link to Website
|Due Date:||Annual reports are filed on April 15th every year.|
|Filing Fee:||The Annual Report filing fee is $20.|
|Penalty:||Any business failing to file the report by April 15th; will be charged with $15 late fees & may lose its good standing with the Montana state. Failing to file the annual report altogether may cause the dissolution of the LLC.|
|Filing Method:||Online only.|
|Forms:||No printable form is available because the filing can only be done online.|
|Important Information:||Once a Domestic or Foreign Montana Limited Liability Company submits the Annual Report along with the prescribed fees to the Montana 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:
- 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 Montana Registered Agent here.
How Fast Can I Fill Montana LLC Annual Report
If you’re new to running an LLC, you may be wondering how fast you can fill out the annual report. This state’s deadline is April 15th. Here’s what you need to know. If you’re a single-member LLC, you should create a master document. The annual report must be filed between January 1 and April 15 of each year. You can file it online or by mail.
The Secretary of State’s website has a Business Service tab. Just type in the name of your business and enter the required information. You can also pay by credit card through a secure portal. For more help, you can also call or email your Northwest Registered Agent. They will help you fill out your annual report in no time. The company will email you a confirmation when your report has been approved. You will also receive reminders by phone or email from the Secretary of State if you forget to file it.
You should be aware that your annual report must be filed by the deadline in Montana. Missing this deadline means that your company will not be considered in good standing. While you can still operate your business after the deadline, you’ll find it difficult to open bank accounts or seek outside funding. Also, your personal liability may increase. And as an added burden, you’ll have to pay a $15 late fee for filing your report late.
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.
An LLC has to file many types of reports, such as Application for Reinstatement, Periodic Report of a limited partnership (usually filed by the exempt nonprofit organization), etc., which are required depending on the type of entity. The Annual Report is mandatory irrespective of the entity type. It requires compliance across entities.