If you have a limited liability company (LLC) in Indiana, you must file a business entity report to keep your business in good standing. But don’t worry – it’s a relatively painless process that can be done online.
Read on to learn how to file your LLC’s business entity report in Indiana.
What Is a Business Entity Report?
A business entity report, known as an annual report in most states, simply verifies your business information and tells the state of Indiana that your LLC is still operating.
Keeping up with business entity reports is a legal requirement that enables you to obtain a Certificate of Existence, which a bank or creditor might request to confirm your compliance.
In Indiana, the following information is required for the business entity report:
How to File a Business Entity Report in Indiana
To file your business entity report in Indiana, visit the Access Indiana website and log in to your account.
Simply select “business entity report” and fill in the required information.
The fee for filing your business entity report is $50, and reports are due every other year by the end of the anniversary month of your LLC’s formation.
If You Do Business in Other States
If you do business in other states, be sure to register in those states as a foreign LLC. For example, if your LLC is registered in Indiana and you start doing business in Florida, you’ll need to register in Florida as a foreign LLC.
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
Once you’ve registered as a foreign LLC, your business will need to follow the annual reporting requirements of that state and pay taxes in that state.
Filing a business entity report in Indiana is relatively easy and crucial to smooth business operations.
Failing to file a business entity report can result in serious penalties, as can filing an inaccurate report.
Be sure to review all your business information and file your report on time to ensure your LLC remains in good standing.