The Florida Department of Corporation will be sending notifications via email to all corporations with a remainder to pay the 2020 Annual Report. The annual report filing this year has been extended until June 30, 2020.
I am writing about this topic this week for you to be informed and avoid the late filing penalty of $400 if you have not filed this report as the date you receive this newsletter.
These are the most frequent questions I received this week:
What is an annual report?
- An annual report must be filed each year for your business entity to maintain an “active status” with the Department of State.
- The annual report is required whether you need to make changes or not.
- The annual report is not a financial statement.
- The report is used to update or confirm the Florida Department of State, Division of Corporations’ records.
- The data displayed on the entity’s online annual report form is the most current data on file with the Division of Corporations.
How do I file my annual report?
- The annual report is filed online at Sunbiz.org.
- Simply click on the blue box entitled “File Current Year Annual Report or Amended Annual Report.”
- Note: Sunbiz.org is the only approved website for annual report filings. This home page contains a banner at the top of the page stating ‘Florida Department of State, Division of Corporations.’
When is the annual report due?
- This year the annual report is due by July 1st.
- If paying by check or money order, the payment voucher and check or money order must be postmarked and mailed on or before July 1st.
- A $400 late fee will be imposed on all profit corporations, limited liability companies, limited partnerships, and limited liability limited partnerships that fail to file their annual reports on or before July 1. Not-for-profit corporations are not subject to the $400 late fee.
How much does it cost to file an annual report?
- If the report is filed by July 1, the annual report filing fee is as follows: $150 for a profit corporation; $61.25 for a not-for-profit corporation; $138.75 for a limited liability company; and $500 for a limited partnership or limited liability limited partnership.
- Payment may be made by credit card, check, or through an established Sunbiz.org account.
- A $400 late fee will apply to profit corporation, limited liability company, limited partnership, and limited liability limited partnership annual reports filed after July 01.
- Not-for-profit corporations are not subject to the $400 late fee.
Can the $400 late fee be waived or abated?
- There is no provision to abate or waive the $400 late fee. Section 607.193(2)(b), F.S., was repealed during the 2010 Legislative Session.
- All business entities, except non-profit corporations, must pay the $400 late fee if their annual report is filed after July 1st even if the business entity did not receive its annual report filing notices.
What happens if I don’t file the annual report?
- Failure to file an annual report by the third Friday of September will result in the administrative dissolution or revocation of the business entity on our records at the close of business on the fourth Friday of September.
- Administratively dissolved or revoked entities may be reinstated by submitting the appropriate reinstatement application and the appropriate fees due to the Division of Corporations’ at the time the entity applies for reinstatement.
If you have any questions or need assistance with this report filing, please call our office.
We keep our promise!
Julio & Staff Members,
Written by: Julio Jiron, CPA
