Colorado LLC Periodic Report: What It Is and How to File

What Is a Colorado Periodic Report? Why Is It Important?

Consider a Periodic Report the state’s yearly checkup on your LLC. It’s similar to a census in that its purpose is to collect the necessary contact and structural information about each Colorado business.

Each state has its own annual report requirements, and some don’t even require them. But in most states, you’re required to submit one per year that includes your LLC name, principal office address, registered agent information, and member/manager names and addresses. Whether you run a domestic or foreign LLC, you should plan on submitting a Periodic Report.

Don’t be intimidated, but it’s not something you want to take lightly. This is how the state updates your LLC’s record with the most recent information. They need to know how to reach you with important information about your business status, upcoming filings, taxes, and service of process.

For example, if you change your registered agent, or your current agent resigns, you’ll need to keep the state informed so they can update their contact information. Miss one of their communications and your LLC in Colorado might end up falling out of good standing or, even worse, being administratively dissolved.

Moreover, keeping your information current will help other businesses and potential customers find you. When you file your Periodic Report, the Secretary of State’s office updates their business database, and anyone can access it by performing a business database search.

How Much Does the Colorado LLC Periodic Report Fee Cost?

If you’re putting together a budget for all your LLC’s costs – like formation costs, name reservation fees, and initial operating expenses – it’s important to include annual filings like this one, just so that there are no surprises.

Costs vary from state to state. Some are free while others can be several hundred dollars. Colorado’s Periodic Report is only $10, so it won’t break the bank.

Due Date and Frequency for a Periodic Report in Colorado

Just like birthdays and national holidays, your Periodic Report will come around once per year, during the two months prior to and the two months after your LLC’s “Periodic Report month.” This month is simply the one in which you originally formed your LLC. So, if you formed your LLC in June, your Periodic Report will be due by the end of August every year, and April 1 would be the earliest you could file it.

What Happens if You Don’t File?

You might be thinking, “that sounds like a pain. How bad could it be if I just fly under the radar?” The short answer: don’t try it. Failing to file your Periodic Report can yield some serious consequences.

After your periodic report month passes, you have two more months to file your Periodic Report. If you don’t file during this window, your LLC will be labeled “noncompliant” and incur a $50 late fee. If you still haven’t filed two months after becoming noncompliant, your LLC will become “delinquent.” Delinquent businesses cannot commence or maintain court proceedings or receive a certificate of good standing. Eventually, if you don’t file outstanding reports and a “Statement Curing Delinquency,” your LLC will be dissolved.

Required Information

Now that you’re aware of the annual cycle, let’s get down to the practicals. After you’ve accessed your LLC’s online Periodic Report, you’ll need to input the following information:

• Principal street address
• Mailing address (if different than street address)
• Registered agent name and address
• Filer name and address

If your LLC is fairly consistent year to year and none of these things have changed, you can simply scroll to the bottom, enter your name and address, and submit it.

Filing Options

Apologies if you prefer doing business on paper because you can only complete the Colorado Periodic Report online. Fortunately, the process is easy.

Go to this page, where you’ll access your digital form by entering your LLC’s name, trademark, trade name, ID, or document number. Select your business and review the information. If there are any changes, make them, then click “Submit.”

After reviewing a digital copy of your form, you will be directed to enter payment information for a credit or debit card. Then, your $10 payment will be complete and you can print a hard copy of the report for your records if you’d like.

Does the State Send Reminders?

Reminders are always nice. They help you stay on top of your business requirements and ensure that you won’t fall out of good standing.

It’s a good idea to set your own reminders on your calendar or phone, but the Colorado Secretary of State also sends notices seven days before the start of your reporting month. You can also sign up for email notifications and you’ll receive reminders about due dates, renewal dates, and more. Obviously, every LLC is required to submit Periodic Reports, regardless of notification status.

Conclusion

There you have it, everything you need to know about Colorado’s reporting requirements. Follow this guide to a T and your LLC will be prepared to operate smoothly and in good standing long into the future.

And remember, if at any point it seems overwhelming, you’re not alone. A good LLC service like ZenBusiness (or LegalZoom) can be a valuable resource, taking care of all the little details, so you can focus on growing your business.