You did it. Your New Hampshire 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 New Hampshire, an LLC’s annual report consists of two parts: a Franchise Tax and a Public Information Report. Each LLC must submit these filings to the New Hampshire Comptroller every year to keep their information current. 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.
For brevity’s sake, we’ll refer to these two combined filings as the “Annual Report” in this guide.
What is the New Hampshire Annual Report? Why is it Important?
Consider an Annual 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 New Hampshire 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 New Hampshire 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. If the Secretary of State has the most updated data on record, any future partners or clients can find your business by performing a name search.
How Much Does the New Hampshire 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. New Hampshire’s $100 fee isn’t necessarily cheap, but it’s more reasonable than some other states. Because you’re filing every year, you should write this $100 payment into your annual budget.
Due Date and Frequency for an Annual Report in New Hampshire
Circle April 1st on your calendar because that’s the due date for your Annual Report. You can certainly file earlier if you want to get it out of the way, but not any earlier than January 1st.
The first Annual Report won’t be due until the calendar year after you file your Certificate of Formation to form your LLC. For example, if you started your business on March 10, 2018, your first Annual Report would be due on April 1, 2019.
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.
Miss the April 1st deadline and your Annual Report will automatically incur a $50 late fee and your LLC will lose its good standing with the state. Fail to file your Annual Report for two consecutive years and the state will administratively dissolve your business.
We’ve covered New Hampshire’s basic annual reporting principles, but what, exactly, does the form require? Here’s the information you’ll need to provide:
- LLC name and business ID
- Principal business purpose(s)
- Registered agent name and address
- Principal office address
- Business email address
- Member or manager name(s) and address(es)
- Filer name
The form itself is fairly quick, and all the required information is pretty easily accessible. If you have it all top of mind or written down, you should be able to cruise right through your Annual Report.
Ready to file? You can either submit your Annual Report online or by mail. Both processes follow many of the same steps.
Online Filing: Head over to the NH QuickStart filing portal and click “File Annual Report.” You will need to create an account if you don’t already have one. Log in and follow the onscreen instructions to enter the necessary information. Then select “Proceed to Pay,” enter your payment information, and you’re good to go! Your report will be processed immediately.
Filing by Mail: Follow all of the same steps as you would to submit your report online, but when you reach the end, you will select “Mail with Check” instead of “Proceed to Pay.” You can then print your completed form, sign it, include your payment, and mail it to:
NH Department of State
107 North Main Street, Room 204
Concord, NH 03301-4989
The Secretary of State processes mailed reports within 1-3 weeks.
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.
When Annual Report filing opens on January 1st, the state will send a reminder to your registered agent (or your business email address). But just so that you don’t forget, it’s a good idea to set up your own system of reminders. Whether you use a planner, calendar app, Post-It notes, or anything else, use it to ensure that you don’t forget to file.
Can I Hire a Service to Handle it?
You probably have a full plate as it is, and the thought of adding one more responsibility to your to-do list might make you shudder. You’re not alone.
Plenty of other LLC owners have outsourced their reporting duties to LLC services. These companies will take the entire process off your hands, handling your Annual Report each year. If that piques your interest, we recommend ZenBusiness, which is an experienced and trustworthy LLC company.
But their services aren’t restricted to forming an LLC or managing Annual Reports. They can also help you form your business, draft an operating agreement, handle registered agent responsibilities, and much more, all for a reasonably low price.
If thinking about your LLC responsibilities ties your stomach in knots, let ZenBusiness take some of those worries off your plate.
There you have it, everything you need to know about New Hampshire’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.