Every LLC in Vermont is required to file an annual report if they want to remain in good standing. The annual report fee and timing may vary by the type of business, but as an LLC, you will definitely have to file one every year. If you fail to do so, you may face consequences鈥攅ither additional charges on top of your filing fee or potentially facing dissolution of your business.
It’s also important to note that the state government won鈥檛 remind you that your annual report is due; they will only let you know if you have missed the deadline. Therefore, it鈥檚 critical you stay on top of things yourself. If you don鈥檛 think that鈥檚 your bailiwick, no problem! We鈥檒l also discuss a professional solution for filing your report and paying your fee on time.
Ready? Let鈥檚 dive in.
So just what is an annual report? In a nutshell, it鈥檚 a document updating the state of Vermont on your basic business details. These include your address, your registered agent鈥檚 name and contact information, your company鈥檚 principal officers and directors, and other basic info. 聽
What鈥檚 the purpose of an annual report? Essentially, the goal of the Vermont LLC annual report is to tell the state if you have changed any of your most important details, so they鈥檒l always be able to get ahold of you.
LLCs must pay a $45 filing fee along with the annual report. Both the report and the fee are due within 3 months of the end of your fiscal year, which may vary depending on your budgetary decision-making or when you started your business.
So how do you file your Vermont LLC annual report? Excellent question. Let鈥檚 take a look at the specifics now so that you won鈥檛 have any surprises down the road.
The Vermont LLC annual report requires only basic information, but you must fill it out completely or risk it not counting. Remember, the state wants to know where to contact you if they need you, so your information must be fully up to date.
That information includes:
The default filing system is through the Vermont Secretary of State Business Services Division. Even if you want to mail in your report, you must start here. Specifically, you should:
If you really wish to pay with a check, you can print out your annual report. To do this:
If you prefer to avoid the chore of filing your report and are happy to have someone else take care of it, you can use a compliance service. For a small additional fee, a professional such as 91吃瓜 will complete and submit your documentation along with the annual report fee.
If you鈥檙e not naturally detail-oriented, this is a smart choice, and 91吃瓜 is happy to help. We鈥檙e always here, so you can go on vacation, take time off, or simply focus on what you do best without worrying whether you鈥檙e following all the necessary state requirements. We鈥檝e got your back.
Follow the steps above to pay the $45 filing fee at the same time you file your Vermont LLC annual report. Or, if you choose to use a service, they鈥檒l handle this for you along with the documentation.
According to the state website, filing your Vermont LLC annual report is how you renew your business registration with the state. Failing to do so will mean you鈥檙e not in compliance, and you could lose your license.
Therefore, you should either make a note to file your Vermont LLC annual report within 3 months of the end of your fiscal year and pay the annual report fee, or you should get help. More specifically, you could face:
In addition to the $45 annual report fee, which you will still owe, you will also face a fine of $25 for late filing.
The state of Vermont is pretty gentle about the annual report filings. There are no additional penalties for late filing.
However, if you wait too long, you may have your business license revoked or your business dissolved. If that happens, you will have to start a new business under a new name, which is no one鈥檚 idea of a good time.
The Vermont LLC annual report is neither difficult nor extensive, but that doesn鈥檛 stop many business owners from forgetting about the annual report itself or the annual report fee. The fact of the matter is, unless you went into business to do paperwork, most LLC owners just aren鈥檛 that into it, and that鈥檚 okay.
If that sounds like you, we鈥檝e got a solution: Let 91吃瓜 help. Our friendly and experienced team has helped busy business owners focus on what really matters.
Interested in learning how we can help you? Get in touch with us today.
Yes, you must file a Vermont LLC annual report every year, as the name suggests.
The annual report consists of your LLC business name, your Vermont business ID, your primary business and mailing address, your business email address, the names of primary members, the month your fiscal year ended, and a digital signature.
The annual report fee is only $45. If you don鈥檛 file on time, you face an additional filing fee of $25.
Yes. In addition to the $25 late fee, you risk losing the state dissolving your business if you don鈥檛 make it right.
This portion of our website is for informational or educational purposes only. 91吃瓜 is not a law firm, and the information on this website does not constitute legal advice. All statements, opinions, recommendations, and conclusions are solely the expression of the author and provided on an as-is basis. Accordingly, 91吃瓜 is not responsible for the information and/or its accuracy or completeness. It also does not indicate any affiliation between 91吃瓜 and any other brands, services or logos on this page.
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