If you are running a Kentucky business, and especially if this is your first year, congratulations! An important part of keeping your business legally compliant is filing an annual report. This is often a simple task, but it can be easily overlooked. If a company fails to file a report, the repercussions are serious, and the state can even dissolve the business.
As one of the 347,000 business owners in the state, it’s your responsibility to make sure this document is filed with the Kentucky Secretary of State each year.
You can also refer to our guide for help where you need it.
Table of Contents
- What is a Kentucky annual report?
- Kentucky Annual Report for Corporations vs LLCs
- Where do I file my Kentucky annual report?
- When is the Kentucky annual report due?
- How much does the Kentucky annual report cost?
- What information do I need to file my Kentucky annual report?
- What happens after I file my Kentucky annual report?
- What if I miss the deadline to file my Kentucky annual report?
- Who do I contact if I have issues filing my Kentucky annual report?
What is a Kentucky annual report?
A Kentucky annual report is a document that updates the state about changes in your business. Whether or not anything has actually changed, the state requires businesses to file this report every year.
A business owner must confirm the name and address of the company, the names and addresses of managing members, and the name and address of the company’s registered agent, which is a person or company that accepts legal documents for your business.
Both LLCs and corporations must file an annual report in Kentucky. The state strongly encourages business owners to file the report online through the state business portal. However, the report can also be printed and mailed or delivered in person. Expect to pay an additional $15 filing fee as well.
Kentucky Annual Report for Corporations and LLCs
Filing an annual report is the same process and cost regardless of whether it’s for a corporation or LLC. To file the report, you’ll need an account through the Kentucky Business One Stop Portal. You may already have an account, which you created when you registered your entity with the state.
The cost to file the annual report is the same for LLCs and corporations: $15.
The filing deadline is the same, too. Annual reports are due no later than June 30th.
If you’re worried about missing the deadline or simply don’t want to create an account and fumble with paperwork, you can reach out to a business compliance service that can manage this task for you.
Where do I file my Kentucky annual report?
A business owner files a Kentucky annual report with the Secretary of State’s office. If you already created an account through the Kentucky Business One Stop Portal, you can log in and file your annual report there. If you haven’t set up an account, you can do so on the state website.
The fastest and easiest way to file the report is through the website. However, you can also return an annual report postcard sent by the state. Usually, the cards are sent in January. While the state does make efforts to reach out to businesses with these postcards, they can be unreliable. It’s a good idea to set up your own reminder or work with a compliance service that can handle this chore for you.
The report can also be printed and mailed, or dropped off at the Kentucky Secretary of State’s office.
If you want to print and mail the form, you can search for your business on the Kentucky Secretary of State’s website, click your business name, then click on printable forms and select the annual report. You need to mail the form to the office of the Secretary of State with a $15 check made out to the Kentucky State Treasurer. The address is:
Secretary of State
PO Box 1150
Frankfort, KY 40602
All annual reports are kept on file with the state and are available to the public. By running a business search on the Kentucky Secretary of State’s website, anyone can find your company, review its status, and see business filings like your annual report.
When is the Kentucky annual report due?
Some states have complex filing dates that are based on the month a company registered with the state. However, in Kentucky, the process is much easier to understand. An annual report is due by June 30th of each year. A business can file anytime between January 1 and June 30, but no later.
If you fail to submit the report, your business falls into the status of “bad standing” and is sent a notice to comply within 60 days. If you file the report, your company will move back to “good standing.” If you don’t file the report by August 31 the state will move for an administrative dissolution, and your business will lose the rights and protections otherwise granted by Kentucky law.
Unlike other states, Kentucky doesn’t levy any fines. Instead, it gives companies a grace period and moves to dissolve a company if no action is taken.
How much does the Kentucky annual report cost?
The price to file an annual report in Kentucky for both LLCs and corporations is $15.
If your company is 51% owned by a military veteran or an active-service member, the fee to file an annual report is waived. The Kentucky Secretary of State’s office estimates 8,300 businesses in Kentucky qualify for this waiver through a program known as Boots to Business.
What information do I need to file my Kentucky annual report?
The information needed to file an annual report is fairly straightforward. The following information is required when submitting an annual report:
- The name of your business
- The business address
- Names of the managing members of an LLC, or the directors and officers of a corporation
- The name and address of the company’s registered agent, which you initially listed on your formation documents
- Signature of whoever prepared the annual report
If your business has filed annual reports in the past and there aren’t any changes, the owner simply needs to confirm the information on file and re-submit it to the state.
If you’re filing online, you can make updates and submit them to the state.
If you plan to file your annual report by returning the postcard sent by the state, an owner cannot update the company’s principal office address or its registered agent. Instead, the owner must file a Statement of Change of Principal Office Address or a Statement of Change of Registered Agent.
What happens after I file my Kentucky annual report?
Once a business owner files an annual report, the Kentucky Secretary of State’s office must approve it. Processing time is immediate if you file online. If you file through the mail or in person, expect to wait up to one week.
Once the report is approved, the document is added to your account and visible to the public. In addition, your company will be in “good standing” with the state.
What if I miss the deadline to file my Kentucky annual report?
A Kentucky annual report must be filed by June 30 every year. If an owner misses this deadline, the state provides a 60-day grace period before moving to dissolve your business. In other words, the owner has until August 31 to file the report and pay the fee. If that doesn’t happen, the business is dissolved.
If an entity is dissolved by the state, the company loses its limited liability protection. Without this in place, the owner’s assets are not separate from the company’s. If the company goes into debt or is sued, the owner’s personal assets are no longer protected.
Once a company is dissolved, an owner must go through a reinstatement process to establish the business in the state once again. To do so, the owner needs to request a reinstatement packet from the Kentucky Secretary of State’s office, file a Certificate of Restoration, submit all missing annual reports, and pay all delinquent fees.
Who do I contact if I have issues filing my Kentucky annual report?
If you’re having trouble filing a Kentucky annual report, you can call the Secretary of State’s office at (502) 564-3490 or visit the Kentucky One Stop Business Portal.
Filing Your Annual Report FAQs
How much does it cost to file an annual report in Kentucky?
The cost to file an annual report in Kentucky is $15 for both LLCs and corporations. There is no fee for companies that are majority veteran-owned or owned by a member of active duty service.
What happens if I file my annual report late in Kentucky?
While many states slap a company with a late fee for missing the deadline, the state of Kentucky does not. However, if the deadline is missed, the state will notify the company of its delinquent filing and give the owner 60 days to comply. If an owner ignores this request, the state will dissolve the business.
What happens if I don’t file my annual report at all in Kentucky?
If you miss a deadline, the state will remind you to file the report and provide 60 days to so. If you fail to comply, the state will dissolve the business. It is possible to reinstate it, but the company owner must talk with the Kentucky Secretary of State’s office, request a reinstatement packet, file all missing reports, and pay all outstanding fees.
If my business is closed do I still need to file the annual report?
If you close your business, you need to file Articles of Dissolution (or if your company is out-of-state, a Certificate of Withdrawal) with the Kentucky Secretary of State’s office. Once the state approves this action, the company isn’t required to file annual reports anymore. However, if a business shuts down but never files for dissolution or withdrawal, it must still file annual reports. The Kentucky Secretary of State has a Voluntary Dissolution resource that can provide additional resources.
How long does the Kentucky annual report process take?
It can take only minutes to fill out the annual report and submit it to the state online. Processing time is immediate for online submission. If a report is mailed or delivered to the Kentucky Secretary of State’s office by hand, processing time can take up to a week.
Do Kentucky annual reports need original signatures?
No. Kentucky allows for digital signatures with all state annual reports.
Who must file a Kentucky annual report?
The business owner or the company’s registered agent must file a Kentucky annual report. You can also hire an annual report service to file the report for the company.
Are new businesses in Kentucky required to file an initial report?
No. Kentucky doesn’t require new businesses to file an initial report. In some states, an LLC must file its first annual report within 90 days of registering, but that’s not the case in Kentucky. New businesses do need to provide the names of managing members on their first annual report and confirm the company’s registered agent. After the first report is filed, companies can simply confirm managing members and registered agent, unless something has changed.