South Dakota LLC Annual Report – File an LLC Annual Report in South Dakota


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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 the South Dakota LLC annual report filing in South Dakota.

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 South Dakota 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

South Dakota 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 South Dakota Annual Report is filed with the South Dakota Secretary of State.

Does the State of South Dakota Require an Annual Report Filing?

It is mandatory for every business entity in South Dakota to file an annual report with the South Dakota Secretary of State. This rule applies to 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 South Dakota has to file the Annual report on the first day of the anniversary month, every year with the South Dakota Secretary of State.

Penalties for Non-filing or late filing

An Annual Report is one of the important documents filed by an LLC. Any report filed after the due date may result in a late fee of $50 & losing the status of good standing. If there is a further failure in filing the report, it may result in 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 South Dakota LLC Annual Report

The South Dakota LLC Annual Report can be filed online or by mail. An LLC operating in South Dakota has to file the Annual report on the first day of the anniversary month, every year with the South Dakota Secretary of State.

Steps to File South Dakota LLC Annual Report Online

Time needed: 5 minutes.

Below is the procedure to file the South Dakota LLC Annual Report online.

  1. Visit South Dakota’s Business Services Online Site.

    The first step in filing the South Dakota Annual Report is to visit South Dakota Business Services Online.south-dakota-llc-annual-report

  2. Click on the “File an Annual Report” Box.

    On the site, click on the “File an Annual Report” Box.

  3. Enter the required details.

    Enter your Business ID & click on the Begin Tab next to it.south-dakota-llc-annual-report

  4. Verify the details & start filing the report.

    Verify that your business information is correct & begin the filing process.

Filing South Dakota LLC Annual Report By Mail

To file the LLC Annual report in South Dakota, you can follow the steps as mentioned below,

  • Visit the South Dakota Business Forms Page
  • Select your Business type from the left section.
  • Click on the “File by Paper” link.
  • Download the form on your computer
  • Fill in the required information & send the printed copies of the forms and relevant documents to the address: Secretary of State Office, 500 E Capitol Ave, Pierre, SD 57501

South Dakota LLC Annual Report (Domestic & Foreign)

State Office:Secretary of State Office, 500 E Capitol Ave, Pierre, SD 57501
Links to Website, Forms
Due Date:An LLC operating in South Dakota has to file the Annual report on the first day of the anniversary month, every year, with the South Dakota Secretary of State.
Filing Fee:$50- for Online Filing, $65- for filing by mail.
Penalty:Any report filed after the due date may result in a late fee of $50 & losing the status of good standing. If there is a further failure in filing the report, it may result in the dissolution of the LLC.
Filing Method:An LLC can file the Annual Report Online or by mail.
Forms:Domestic LLC Annual Report
Foreign LLC Annual Report
Important Information:Once a Domestic or Foreign South Dakota Limited Liability Company submits the Annual Report along with the prescribed fees to the South Dakota 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 South Dakota Registered Agent here.

How Fast Can I Fill South Dakota LLC Annual Report

Deadline for filing annual reports in South Dakota is the first date of the company’s anniversary month with the South Dakota Secretary of State.

Filing a South Dakota LLC Annual Report is a mandatory part of doing business in the state. To file a report, visit the website of the South Dakota Secretary of State. You will be provided with a blank report form to fill out. You will need a few pieces of information, such as the name of the LLC, its state-issued tax ID number, and the address of its principal office. In addition, you will need the names and addresses of the registered agent and managers.

If you have more complicated business structures, you may need to hire an attorney to draft your articles of organization, but if you are launching a new business, a simple form will be fine. It can cost as little as $150, depending on how complicated your structure is. Remember to factor in other costs.

South Dakota LLCs that sell goods or services must collect sales tax and pay it to the state. In addition to this, South Dakota LLCs must pay other taxes associated with their business. For example, employees of an LLC must pay payroll taxes and reemployment assistance tax. You can download a blank sales tax return from the DOR’s website.

As a business owner, it is important to keep your records up-to-date. You should also keep copies of your federal, state, and local income tax returns. In addition to these, you should have copies of your operating agreement, company agreement, and certificate of organization. You should also file an Initial Report within 6 months of forming an LLC. The Initial Report must be filed on or before April 1 of the following year.

In South Dakota, you can file your annual report online or through the mail. You will receive reminders when it is time to file. Failure to file your report can lead to penalties and even company dissolution. In addition, if your company doesn’t have a registered agent, you must file the annual report yourself.

The South Dakota Secretary of State offers many different services for corporations and LLCs. These services include domestic and international business formations, articles of amendment, certificates of authority, and other documents. You will also need to fill out a South Dakota LLC Annual Report to report on your business activities.

The annual report contains updated information about your LLC. This information allows State officials to find your LLC in an easier manner. It also serves as a log of your business activities, and records transactions and appointments. This report is a vital document for your LLC. There are other documents you may need to fill out, but the Annual Report is the most important.

You can file the Annual Report online through the Secretary of State’s Business Services Online website. You will need to provide your Business ID.

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

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.

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