If you have a limited liability company (LLC) in Alaska, you must file a biennial report to keep your business in good standing. It’s a relatively painless process that can be done online.
What Is a Biennial Report?
Compared with annual reports required in most states, the biennial report filed once every two years verifies your business information and tells the state of Alaska that your LLC is still operating. In addition, keeping up with biennial reports is a legal requirement that enables you to obtain a Certificate of Compliance, which a creditor might request down the line.
In Alaska, the following information is required on the biennial report:
- Business name
- Entity number
- Business’s primary address
- Any changes to the names and addresses of members and managers
- Your name and phone number
How to File a Biennial Report in Alaska
To file your biennial report in Alaska, you must visit the Division of Corporations, Business, and Professional Licensing website.
Select “Proceed to online filing.”
Fill out all the required information.
The fee for filing your biennial report is $100, and reports are due every two years on January 2nd. In addition, there is a late fee of $37.50.
If You Do Business in Other States
You’ll need to be registered as a foreign LLC if you do business in other states. For example, if your LLC is registered in Alaska and you start doing business in Florida, you need to register as a foreign LLC in Florida.
You’re generally required to register as a foreign LLC if:
- You have a physical presence of any kind in that state
- You have employees in that state
- You regularly meet with clients, managers, or investors in that state
- You are licensed to do business in that state
While registered as a foreign LLC, your business must follow the annual reporting requirements of that state and pay taxes in that state.
Filing an Alaska biennial report is simple, but it’s crucial to smooth business operations. Failing to file a biennial report can result in late fees and even the dissolution of your Alaska LLC.