Annual Report Reminder
Every business entity
organized in Florida must file an annual report with the Florida Department of
State by May 1st each year. This filing is mandatory for all
business entities that wish to maintain an active status, even if no changes
were made to the entity. The purpose of the annual report is to update and/or
confirm the records of Florida’s Division of Corporations. Additionally, the
responsibility to file falls solely upon the entity’s representative since
Florida’s Division of Corporations is not required to send a reminder regarding
the deadline.
If you are a member of
Morris Law Group’s Generational Planning Solutions (“GPS”) program then please
disregard this notice as the filing of the annual report has already been
addressed. If you are not a member of our GPS program and would like to find
out more information, please contact our office today! http://www.law-morris.com/gps
The annual report can
only be filed through Sunbiz, Florida’s Department of State, Division of
Corporations (Sunbiz.Org). The option to file the annual report is prominently
listed on the website’s homepage. In order to file the report, all you need is
the Document ID Number (which can be found on Sunbiz), a valid email address
and payment of the fee.
The
fees for the annual report vary based on entity classification, and are as
follows for 2019:
For a Profit Corporation: $150.00
For a Non-Profit Corporation: $61.25
For an LLC: $138.75
For an LP or LLLP: $500.00
Florida’s Division of
Corporations will impose a penalty of $400 for an annual report that is filed
after the May 1st deadline; however, the penalty does not apply to
non-profit corporations. Furthermore, this $400 late fee cannot be waived or
abated.
The failure to file an
annual report by the third Friday of September will result in the
administrative dissolution or revocation of the business entity. Such
administratively dissolved or revoked entities must then apply for restatement
and pay additional fees in order to regain active status in Florida. Therefore,
if you are an individual who has formed, or maintains a business entity in
Florida, it is crucial that you file the annual report in order to avoid the
disruption of business.
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