Whether you run a pizza shop in Denver or a ski supply store in Aspen, if you own a limited liability company (LLC) or corporation in Colorado, you must file a Colorado periodic report. The purpose of the report is to keep the state informed about your company and provide a list of contacts if the government needs to reach a member of your business.
If you are confused about filing a Colorado periodic report, you’ll find answers to frequently asked questions in this guide.
Table of Contents
- What is a Colorado periodic report?
- Colorado periodic report for corporations vs LLCs
- Where do I file my Colorado periodic report?
- When is the Colorado periodic report due?
- How much does the Colorado periodic report cost?
- What information do I need to file my Colorado periodic report?
- What happens after I file my Colorado periodic report?
- What if I miss the deadline to file my Colorado periodic report?
- Who do I contact if I have issues filing my Colorado periodic report?
What is a Colorado periodic report?
A Colorado periodic report is a yearly report submitted to the Colorado Secretary of State’s office. Filing the report keeps your corporation or LLC in good standing with the state. The report includes basic business details like the company name and address, and also the names and addresses of key members, like the registered agent.
All business entities can file the report online through the Secretary of State website.
If the report is not filed, a company loses its good standing with the state and is classified as noncompliant. The state will give you a grace period to file the report before classifying your company as delinquent. To revive a business from this status requires additional paperwork, including a Statement Curing Delinquency.
Colorado periodic report for corporations vs LLCs
Both corporations and LLCs must file a periodic report with the state, as do several other business types, referred to as reporting entities. The paperwork is similar, and the filing fee for both is $10. All entities can currently only file online, so check the fee schedule and the Secretary of State’s business FAQ page for more details.
Where do I file my Colorado periodic report?
A periodic report is filed online with the Colorado Secretary of State. To get started, you need to look up your business by name using the state’s search tool.
- Once you find your business, click on the business ID number to open your company profile
- Click on the option to file a periodic report
- Follow the prompts to complete the online submission process
Again, paper documents are currently unavailable, and the Secretary of State’s website directs users to its online system.
When you submit the report to the state, it’s reviewed and either accepted or rejected. Upon approval, the report becomes public record. Any member of the public can visit the Secretary of State website and use the same business search tool to research Colorado companies. A company profile, complete with company details and links to periodic reports, is available online.
When is the Colorado periodic report due?
The Colorado periodic report is due two months after your company’s anniversary month, on the last day. You can file it up to two months before that date as well. How do you figure out what that means for your business?
The easiest way is to look up your business on the Secretary of State website. On your company profile, it will tell you when your report is due.
When you look up your business, you’ll also find your company’s origination date. If your company’s origination date is April 7, 2020, that means your report is due no later than June 30, which is two months after your anniversary month.
You can also file two months earlier. Using the example above, that means the company can file the report in February. This company can file its report and pay the $10 filing fee anytime between February and the end of June.
However, if the report isn’t filed by June 30 in this example, it would be considered late. At that point, the company is classified as non-compliant and is subject to a $50 late fee. If the report remains unfiled, the state will classify the business as delinquent.
To make sure you remember to file the report, the state encourages business owners to sign up for email reminders.
How much does the Colorado periodic report cost?
The cost to file a Colorado periodic report is $10. The fee is the same for both LLCs and corporations. A full fee schedule can be found here.
What information do I need to file the periodic report?
To file a periodic report, visit the Secretary of State’s filing page. To make the process as easy as possible, the forms are pre-populated. In other words, certain fields are already filled in with information that’s currently on file.
If the information is correct, all you have to do is confirm it. If the information must be changed, you’ll make the necessary updates. The only information that can’t be updated on the report is the company name, ID number, and jurisdiction (state).
The periodic report asks for the following information:
- Principal office street address
- Principal office mailing address (optional)
- Registered agent name and street address
- Registered agent’s mailing address (optional)
- Name and address of the person filing the report
The principal street address and the registered agent’s street address cannot be a P.O. box, which is why it specifies “street address.” If the state needs to deliver tax notices or a legal team needs to deliver service of process papers that are served during a lawsuit, they can’t be delivered to a P.O. box. They must be delivered to a person who can address them immediately.
What happens after I file my Colorado periodic report?
Because the reports are filed online, the Secretary of State’s office processes them immediately. Once approved, the state sends an email confirmation, and you can cross this task off your list until next year. The information is also made publicly available online.
What if I miss the deadline to file my Colorado periodic report?
If a report isn’t filed with the state by its due date, a business is considered noncompliant. The state gives a company two more months to file the report and charges an additional $50 late fee.
If the report goes unfiled, the state classifies the business as delinquent. This classification comes with consequences, including the inability to collect debts through the court system and loss of LLC or corporate status and liability protection. You can find further explanation of a delinquent company on the Secretary of State website.
For a company’s status to go from “delinquent” to “good standing,” the business must file a Statement Curing Delinquency. This form asks for similar information to that of the periodic report and must be approved before a company earns a “good standing” status. More info on the Statement Curing Delinquency is available online.
Who do I contact if I have issues filing my Colorado periodic report?
The state website has instructions to file a Colorado periodic report that you may find helpful. You can also call the Colorado Department of State Business and Organizations phone number at (303) 894-2200 with additional questions.
Filing Your Colorado Periodic Report FAQs
- How much does it cost to file a periodic report in Colorado?
The cost to file the Colorado periodic report is $10.
- Are there any fees or penalties if I don’t file my Colorado periodic report?
Yes. There is a $50 late fee for any report that’s not delivered by its due date. Once a company misses its due date, the state moves the company classification from “good standing” to “noncompliant.” The state will send reminders to the company to get the company to comply. If the report is filed within two months of its due date and all fees are paid, the company returns to good standing.
If the report is still not filed, the state moves the company classification to “delinquent,” which comes with consequences. The state explains the consequences of delinquency online.
- If my business is closed, do I still need to file the periodic report?
If a business closes, a Statement of Dissolution must be filed with the Colorado Secretary of State. Until this document is filed, a company is responsible for filing a periodic report and paying the filing fee yearly.
You can fill out the Statement of Dissolution online and file it with the state in a matter of minutes. This document is the only way to notify the state of a business closure.
- How long does the Colorado periodic report process take?
Filing a report online takes a few minutes. Periodic reports have pre-populated fields to make the process simple, and they include a streamlined checkout service to pay the filing fee. It’s not necessarily the process that causes a problem for business owners; it’s remembering to file it each year. For this reason, many owners consider working with an annual report service.
- Do Colorado periodic reports need original signatures?
No. Colorado accepts electronic signatures through its online filing system.
- Who must file a Colorado periodic report?
Depending on the business structure, an periodic report can be filed by an owner, authorized director or officer, member, or authorized business compliance service.