One of the requirements of maintaining an LLC or corporation in South Dakota is filing an Annual Report. The Annual Report is used to confirm and update the company’s information each year with the Secretary of State.
What is Needed to File a South Dakota Annual Report
You have the option of filing your Corporation and LLC Annual Report online or by mail. To file online, visit the South Dakota Secretary of State’s website, otherwise you can download and fill out the Annual Report
The report asks for information such as:
- Legal name of the entity
- Principal office address
- Contact information for the Registered Agent
- Name and address of the officers, directors, members and/or managers
Processing is immediate when filing online or 5-7 business days when filing by mail.
Annual Report Cost
The cost to file an Annual Report for either the Corporation or LLC is $50.
The Annual Report is due by the last day of the anniversary month the Corporation or LLC was formed.
The first annual report isn’t due until the year following formation. For example, if your LLC or Corporation was formed January 1st, 2020, the first Annual Report will be due January 31st 2021.
The Secretary of State’s office emails a reminder in advance of the Annual Report due date. Even though a reminder is sent, it’s important to make an additional reminder for yourself should you not receive it.
My business made little or no money. Do I still have to file the Annual Report?
Even if your Corporation or LLC received no income or had no business activity, the Annual Report is still required to be filed.
What happens if you don’t file the Annual Report on time?
If the Annual Report isn’t filed on time, a $50 penalty is assessed and the entity’s status will change from “Good Standing” to “Delinquent”. By not being in a status of good standing it may be difficult for the entity to prove its existence when signing up with new vendors, loans, etc.
If the report isn’t filed within 60 days of the due date, the entity will be administratively dissolved by the Secretary of State.
South Dakota Secretary of State Contact Information
South Dakota Secretary of State
215 E. Prospect Ave.
Pierre, SD 57501
If you have questions, they can be contacted at 605-773-4845 or email@example.com.