Limited liability company (LLC) and corporation owners must file an Indiana business entity report every two years. It’s similar to annual reports that are filed in other states, but the filing frequency is every two years instead of every year.
As a business owner in the Hoosier State, we know that you may be working long hours with a packed schedule. From managing employees to overseeing deals, we know owners are usually strapped for time. So, when it comes to filing paperwork with the state, it’s understandable that you may overlook or not know how to handle some of it.
Don’t worry. Here’s the top-line info about filing your Indiana business entity report.
Table of Contents
- What is an Indiana business entity report?
- Indiana business entity report for corporations vs LLCs
- Where do I file my Indiana business entity report?
- When is the Indiana business entity report due?
- How much does the Indiana business entity report cost?
- What information do I need to file my Indiana business entity report?
- What if I miss the deadline to file my Indiana business entity report?
- Who do I contact if I have issues filing my Indiana business entity report?
What is an Indiana business entity report?
An Indiana business entity report must be filed every other year with the Indiana Secretary of State. The purpose of the report is to provide necessary information, like contact information, to the state.
Filing a business entity report is an ongoing responsibility. If it’s your first time filing, the first step is to figure out when your report is due. The due date is different for every business, which is the end of a company’s anniversary month, biennially (every two years). Can’t recall when you officially registered your business? Conduct a business search to get the exact date.
When it’s time to file, you’ll log into INBiz, the state’s one-stop resource for business filings. You’ll look up your company by name, fill out the online report, and submit it to the state with a $50 filing fee. Filing the report is required and keeps your business in good standing with the state.
Indiana business entity report for corporations vs LLCs
Both LLCs and corporations in Indiana are required to file a business entity report. The paperwork is the same. The report only takes a few minutes to file, but it can easily fall off your radar, so make sure you set reminders.
Where do I file my Indiana business entity report?
Filing an Indiana business entity report is best done online. Simply go to INBiz and log in to your account. If you don’t have an account, you’ll have the option to create one. With an account set up, business owners should click Online Services and select Business Entity Report. The report will appear with pre-populated information. Your job is to confirm the information or make changes.
You can also download a copy of the business entity report, fill it out, and mail it to the Secretary of State or hand-deliver it to the office in Indianapolis. If you plan to mail it or drop it off, the address is:
Secretary of State Business Services Division
302 West Washington Street, Room E018
Indianapolis, IN 46204
Note: Availability for personal delivery may be limited due to COVID-19 concerns.
Some information provided on your business entity report is available online to the public. Names of managing members and email addresses are kept private, but your business name, street address, business type, creation date, status of your business, when the next business entity report is due, and the name and address of the company’s registered agent are all public record. To find this information, people simply conduct a business search on the Secretary of State website.
When is the Indiana business entity report due?
Business entity reports are due to the Indiana Secretary of State by the end of a company’s anniversary month, every other year. For example, if a company registered with the state on September 16, 2020, the first report is due by September 30, 2022. If you can’t remember when your company was officially registered, you can look up your business on INBiz and get its origination date.
Remembering the due date can be tricky. Here’s a trick to help: If you established your company in an even year, you’ll file reports in even years.
The state does collect email addresses in an attempt to send business owners a reminder email about a month before the report is due, but don’t rely on it as your sole reminder. It’s best to set your own reminder or work with a business compliance service that can manage this time-sensitive task for you.
How much does the Indiana business entity report cost?
The cost to file a business entity report is $50 online. The state encourages people to submit the report electronically, and the costs are the same for LLCs and corporations. Indiana recently changed its filing system, so you’ll need to consult the state website for the most current information on fees for filing by mail or in person as well as expedited filing fees.
Reports filed online are typically approved within an hour, and the state sends a confirmation email upon approval. Reports that are mailed or delivered in-person can take up to a week to process.
What information do I need to file my Indiana business entity report?
To file an Indiana business entity report, you’ll need to gather the following information:
- Business entity name
- Office address
- Email address
- Current filing year and previous filing years
- Date of formation
- Jurisdiction (state) of formation
- Registered agent information (name and address)
- Governing person information (officers or directors)
You’ll also be asked if your registered agent is a commercial registered agent or a noncommercial registered agent. If your registered agent is a person, such as the owner or a board member, your company has a noncommercial registered agent. If you pay a service to be your company’s registered agent, your company has a commercial agent.
You can confirm or update all of the information on the business entity report with the exception of the entity name. If you change your company name, you need to file an amendment with the Secretary of State.
What if I miss the deadline to file my Indiana business entity report?
The state does not issue fines, but if an Indiana business entity report isn’t filed within 120 days of its due date, the state will administratively dissolve the business. That means it is no longer an LLC or corporation and loses all liability protections of those structures.
To reinstate a business after it’s been dissolved by the state, a business owner must file an Affidavit for Reinstatement with the Indiana Department of Revenue and wait for a Certificate of Clearance. The certificate and an application to reinstate the business must be delivered to the Secretary of State, along with a completed business entity report. The owner must pay all overdue fees from previous business entity reports and pay a $30 reinstatement fee.
Note that Indiana will not reinstate a business if it has been administratively dissolved for more than five years.
Who do I contact if I have issues filing my Indiana business entity report?
For business owners who are having trouble filing their business entity reports or have more questions, you can contact the state’s business department at (317) 234-9768 or fill out a contact form on the INBiz website.
Filing Your Annual Report FAQs
- How much does it cost to file a business entity report in Indiana?
For both LLCs and corporations, the cost to file a business entity report in Indiana $50.
- Are there any fees or penalties if I don’t file my Indiana business entity report?
Indiana business owners who don’t file a business entity report won’t incur fees, but if the report isn’t filed, the state will administratively dissolve the business. The state gives companies 120 days after their due date to file the report and pay the associated fee. If it’s not done by then, the company is dissolved and you cannot conduct business until you reinstate it.
- What happens if I don’t file my business entity report at all in Indiana?
The state will dissolve a business if an entity report isn’t filed within 120 days of its due date. Businesses will likely receive a reminder before the report is due, and once if it’s late. If the report remains unfiled, the state will administratively dissolve the business. The status means you cannot conduct business as an LLC or corporation.
Reinstating a business requires the owner to file for reinstatement, receive approval, file an application with the Secretary of State, file a business entity report, and pay a $30 reinstatement fee. Any outstanding balances must be paid as well before the state will consider reinstatement.
- If my business is closed, do I still need to file the business entity report?
If you’re ready to shut down your business, filing a business entity report is no longer necessary as long as you inform the state of your decision. You need to file dissolution paperwork with the Secretary of State first. After that, the company is no longer obligated to file reports.
- How long does the Indiana business entity report process take?
Filing a business entity report is a fairly quick process. It takes minutes to fill out the paperwork online, and it’s processed almost instantly by the state.
- Do Indiana business entity reports need original signatures?
Indiana does not require original signatures on its entity reports. Electronic signatures through the online portal are acceptable.
- Who must file an Indiana business entity report?
There are several people within a business who are authorized to file this report, including the business owner and the company’s registered agent.
- Are new businesses in Indiana required to file an initial report?
No. Indiana does not require new businesses to file an initial report, which is usually submitted to the state within the first few months of a business opening. The first business entity report due for new companies is two years after filing origination documents with the state.