Kentucky Annual Reporting

You did it. Your Kentucky 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 Kentucky, an LLC’s annual report is due by June 30 of each year, and it helps the state keep up-to-date records about the businesses that are active within its borders. 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.

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What Is a Kentucky Annual Report? Why Is It Important?

Consider an annual report the commonwealth’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 Kentucky 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 commonwealth 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 commonwealth informed so they can update their contact information. Miss one of their communications and your LLC in Kentucky 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. Anyone who wants to find your LLC’s contact info can do so by performing a name search on the Secretary of State website. This could include future customers or partners.

How Much Does the Kentucky 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. Fortunately for you, Kentucky’s annual report fee is at the low end of that range, only $15. If your LLC is at least 51% owned by veterans or active-duty members, the fee is waived for the first four years, thanks to Kentucky’s “Boots to Business” initiative.

Due Date and Frequency for an Annual Report in Kentucky

Your LLC will need to complete and submit an annual report once per year, no later than June 30. If you’re an early bird who wants to get it done as soon as possible, you can’t file any earlier than January 1. But as soon as the clock strikes midnight on New Year’s Eve, you’re welcome to file.

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.

If you miss the June 30 deadline, your LLC will lose its good standing and the commonwealth will mail out a 60-day notice on July 1. File the delinquent report during that window and your good standing will be restored, no fees necessary. But if August 31 comes and goes, however, and you still haven’t filed your report, the commonwealth will administratively dissolve your company.

Required Information

Now that we’ve covered all the basics, let’s dig into the annual report itself. When you sit down to file it, here’s the information you should have handy, especially if it’s changed in the last year:

  • Principal office address
  • Registered agent name and address
  • Names and addresses for each member or manager

The whole process is pretty quick and should only take a few minutes, so don’t put it off!

Filing Options

Ready to file? If it’s between January 1 and June 30, you’re good to go. There are three ways to go about it.

Online Filing: You can complete the whole process through the Secretary of State’s Online Services portal. Enter your LLC’s name or business ID, then select your company from the results. You’ll be directed through a couple of pages that ask you to confirm or update your business information. Then, you can enter your credit or debit card information to pay.

Filing by Mail: Access the Online Services portal like you would for online filing, enter your LLC’s name/ID, and select your company. Then, hover over the “Printable Forms” tab and select Annual Report from the dropdown menu. Print your form, fill it out, and mail it (with a $15 check) to:

Secretary of State

P.O. Box 718

Frankfort, KY 40602

Be sure to mail it prior to the June 30 deadline, since it needs to arrive by that date.

Filing by Postcard: In January or February each year, the Secretary of State will mail a postcard reminder, which can also serve as your annual report. Simply fill out the required information, include a $15 check, and mail it back.

Does the Commonwealth 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.

The postcard listed above serves as the Secretary of State’s reminder to file your annual report. You or your registered agent will receive it sometime during January or February. We still think it’s wise to establish your own system of reminders, just in case. Circle it on your calendar, put it in your phone, leave a Post-It note on your mirror, whatever will help you remember!

Conclusion

There you have it, everything you need to know about Kentucky’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 Kentucky 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?

No matter when you formed your LLC, your annual reports are due by June 30 of each year.

Does Kentucky 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.

In Kentucky, there is no need to file an initial report. This state collects all of the information it needs for your LLC’s first year in business from the Articles of Organization filing.

What if I need more time to complete my annual report?

Kentucky does not offer extensions for annual report filings. Your LLC will be administratively dissolved if you miss the June 30 filing date, and you will need to file a reinstatement document to get your business back in good standing with the state. However, the state does provide a 60-day buffer period, in which you can file your reinstatement forms without paying fees.

Where can I find more official information about Kentucky’s LLC annual reporting requirements?

The best resource for info straight from the state is the Secretary of State’s Annual Reports page. This page includes plenty of information about due dates, fees, and the process for administratively dissolving businesses that do not comply with these requirements.

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