What is a Utah Annual Report?
One of the requirements of maintaining a Limited Liability Company (LLC) or corporation in the state of Utah is filing an Annual Report, sometimes referred to as a Business Renewal. The Annual Report is used to confirm and update the company’s information each year with the Utah Department of Commerce.
Related: How to form an LLC in Utah
Who Needs to File an Annual Report?
Domestic and foreign corporations and LLCs are required to file an annual report each year after the year the company was formed.
What is Needed to File a Utah Annual Report?
You have the option of filing your Corporation and LLC Annual Report online or by mail. To file online, visit the Utah Department of Commerce’s website, otherwise, you can download and fill out the Annual Report.
The report asks for information such as:
- Legal name of the entity
- Entity Number – Find your Department of Commerce’s Business Database
- Contact information for the Registered Agent
Utah Annual Report Fee
The filing fee for the Utah Annual Report is $20.
Annual Report Due Date
The Annual Report deadline is each year on the anniversary date the entity was formed. For example, if your LLC or Corporation was formed on January 31st, 2020, the first Annual Report will be due January 31st, 2021.
The Department of Commerce’s office sends a reminder notice 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.
Annual Report Filing ServiceIf you would rather use a service that guarantees the annual report is filed on-time, check out the annual report filing service through Northwest.
My business made little or no money. Do I still have to file the Annual Report?
Even if your Utah LLC or Corporation 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 $10 late fee penalty is assessed, in addition to losing the good standing status with the state. Eventually, if the report isn’t filed, the business entity will face administrative dissolution from the Department of Commerce.
Utah Department of Commerce Contact Information
Utah Department of Commerce
Division of Corporations & Commercial Code
PO Box 146705
Salt Lake City, UT 84114-6705
If you have questions, they can be contacted at (801)-530-4849.