You did it. Your Hawaii LLC is officially up and running, ready to take on challenges, roll in the profits, and change the world.
There’s no doubt that this is an exciting time in your business journey. After starting your LLC, it’s easy to get carried away in all the excitement and expectations. After all, as a new business owner, you’ve got a lot on your plate.
But the state does too. They need to keep updated records on thousands of businesses so that they can effectively reach out with any important tax or legal communications down the road. How do they do it? With your cooperation, of course.
In Hawaii, every LLC must file an annual report each year. This report helps keep the state updated regarding any changes to your business structure or ownership group. Unsure how to go about it? Never even heard of it? No worries at all. That’s why we’re here. Keep reading for everything you need to know.
If you’d like to hand off this responsibility to save time and focus on running your business, affordable LLC services are a great solution. Not only will they form your business in the first place, but they’ll also manage ongoing requirements like ongoing report filing. Once you're ready to lock it down, have ZenBusiness file all the paperwork.
What Is a Hawaii Annual Report? Why Is It Important?
Consider annual reports 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 Hawaii business.
Each state has its own annual reporting 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 an annual 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 Hawaii might end up falling out of good standing or, even worse, administratively dissolved.
Moreover, keeping your information current will help other businesses and potential customers find you. As long as you keep up with your annual reports, future customers and business partners can find your LLC by performing a name search.
How Much Does the Hawaii LLC Annual 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. As a Hawaii LLC owner, you’re in luck, because each Hawaii annual report only costs $12.50 for online filings and $15 for mailed ones. In a hurry? Expedited processing will cost an extra $25.
Due Date and Frequency for an Annual Report in Hawaii
The annual report filing comes around once a year, like birthdays and holidays, but without the parties and gifts. Your annual report due date is based on when you formed your LLC and will be the last day of your LLC’s registration quarter. When did you first register your LLC?
- Q1 (January 1 – March 31): Due by March 31
- Q2 (April 1 – June 30): Due by June 30
- Q3 (July 1 – September 30): Due by September 30
- Q4 (October 1 – December 31): Due by December 31
Forget when you formed your LLC? Just search for it on the Business Entity and Documents page and you’ll find it under “Registration Date.” You may file any time within the appropriate quarter. You’re not required to file an annual report during the year that you first form your LLC.
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 annual report can yield some serious consequences.
A late annual report will incur a $10 penalty annually, although the state has the right to charge a maximum of $100 for every 30 days a report is delinquent. Even worse is that your LLC will lose its good standing with the state, which is necessary for certain business transactions. And if you go two years without filing an annual report, the state can administratively dissolve your business.
Now that you’re familiar with the yearly annual report cycle, it’s time to dig in and actually file it. Here’s the information it contains:
- LLC name
- Mailing address
- Principal office address
- Nature of business (optional)
- Registered agent name and address
- Names and addresses for each member/manager
The filing shouldn’t take long at all, especially if none of these things have changed since the year prior.
You’re welcome to file your Hawaii annual report online or by mail, email, fax, or walk-in. Online is a slightly easier process, but all of these options are equally effective. Here’s how to go about it:
Online Filing: Start by going to the Hawaii Business Express filing portal. Click “Learn More” in the box labeled “Manage.” Then, select the button that reads “Start Annual Report Filing.” From there, simply follow the onscreen instructions to find your LLC, make changes to your information (if necessary), and submit your form.
Annual Filing – BREG
P.O. Box 40
Honolulu, HI 96810
Filing by Email: Simply email your completed annual report form to the Hawaii Business Express email address (email@example.com).
Filing by Fax: Send your annual report to the Department of Commerce and Commercial Affairs via fax to 808-586-2733.
Filing by Hand: If you’d rather hand-deliver your forms, you can bring them to the following address:
335 Merchant Street, Room 201
Honolulu, HI 96813
For additional instructions on hard copy filing, see page two of the form.
Processing times for both online and hard-copy reports can take as long as 6-8 weeks. But if you need it done sooner, you can pay an additional $25 fee for expedited processing, which only takes 1-3 business days.
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.
On the 15th day of the first month in the appropriate quarter, the Department of Commerce and Consumer Affairs will send you a yellow postcard reminder. You don’t need to wait for this postcard to file, as long as you are in the quarter during which you first formed your LLC. If you’d like to receive an email reminder as well, you can sign up for Hawaii’s MyBusiness Notifications. It’s free if you register when filing your annual report online, but $2.50 any other time throughout the year.
There you have it, everything you need to know about Hawaii’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.
Frequently Asked Questions
About Filing the Hawaii LLC Annual Report
Should I use an annual report service, hire an attorney, or prepare and file my own reports?
This question largely comes down to personal preferences, but we do have some general insights. The DIY route can be quite a bit of work, as you’ll need to keep track of your due dates and complete the entire report on your own with no assistance. As for hiring an attorney, this can be prohibitively expensive for many businesses, as a lawyer can charge hundreds or even thousands of dollars to prepare and file your annual reports.
You can think of business services companies as a middle ground between these options. While most of these companies charge a fee to prepare and file your annual reports, that fee will be significantly less expensive than an attorney’s fee. At the same time, you still aren’t going it alone. Instead, you have an experienced professional guiding you through the entire process.
I’ve heard the most about LegalZoom. Are they the best annual report service?
LegalZoom is the most well-known of all business services companies, thanks to its long track record and extensive advertising campaigns. That said, all of that brand power comes at a cost, as LegalZoom’s pricing and features don’t always compare advantageously to its competitors. While we do appreciate LegalZoom’s annual report filing service, it isn’t our top choice.
When is my annual report due each year?
The answer to this question depends on when you registered your LLC in Hawaii. If you formed your LLC in the first quarter, your annual report is due by March 31. For LLCs formed in the second quarter, your due date is June 30. LLCs formed in the third quarter need to submit annual reports no later than September 30, and fourth-quarter formations lead to December 31 annual report due dates.
Does Hawaii require LLCs to file initial reports?
In some states, LLCs are also required to file initial reports. These reports are typically quite similar to annual reports, with the difference being that an initial report either accompanies your formation documents or follows their filing within a couple of months.
However, Hawaii does not require initial report filings from LLCs, so you can safely ignore this step.
What if I need more time to complete my annual report?
Hawaii does not offer extensions for annual report filings. If you fail to file your report by the end of your anniversary quarter, you will need to pay fees ranging from $10 to $100 and your business will immediately fall out of good standing. If you fail to file your annual report for two years, the state can administratively dissolve your LLC.
Where can I find more official information about Hawaii’s LLC annual reporting requirements?
The best resource for info straight from the state is the Hawaii Business Express annual report FAQ page. This page provides in-depth answers to dozens of frequently asked questions about Hawaii’s annual reports.
LLC Annual Reports in all 50 States
We break down the LLC Annual Reporting process for all 50 states. View our guides below.