One of the requirements of maintaining an LLC or corporation in 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.
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
Annual Report Cost
The cost to file an Annual Report for either the Corporation or LLC in Utah is $20.
The Annual Report is due each year on the anniversary date the entity was formed. For example, if your LLC or Corporation was formed January 31st, 2020, the first Annual Report will be due January 31st, 2021.
The Department of Commerce’s office sends 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 $10 penalty is assessed. Eventually, if the report isn’t filed, the entity will be administratively dissolved by 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.