Business Entity Report Requirements and Filing for LLCs in Indiana

So you’re looking to launch or grow your small business. There are so many enjoyable aspects of starting a new venture, but you know what? Figuring out how to deal with your biennial report just isn’t one of them (unless you’re a numbers guru… we see you, numbers gurus!) For everyone else, dotting your Is and crossing your Ts when it comes to a biennial report and the accompanying filing fee takes a little more doing.

Never fear, though: Today’s post is here to help you get it done. The good news is that Indiana’s rules for a biennial report — or, according to the state’s official nomenclature, business entity report — are pretty straightforward. As in most (but not all) states, the biennial report is mandatory in Indiana, so make sure you pay attention to the rules to avoid late fees or even stricter penalties, such as dissolution of your LLC.

Ready to grow your biz the responsible way? Let’s dive in.

What to know about Indiana’s biennial report requirements

First and foremost, understand that the Indiana LLC biennial report (aka the business entity report) is mandatory for you if you form an LLC in Indiana, without exception. According to the Indiana Secretary of State’s website, “Failure to file will result in the administrative dissolution or revocation of your business.”

Just what is a biennial report, you’re wondering? Simply put, it’s a document that ensures the state has your most current documentation on file. Unlike some other states, which require you to include financial information from past years, Indiana only wants to know where to reach you.

As for the biennial report fee, you can expect to pay $32 if you file online and $50 if you go old school and send your report in by mail. Reports and fees are due every two years by the end of the month in which you formed your business.

How to file a biennial report in Indiana

Filing an Indiana LLC biennial report is, as stated, quite straightforward. Once you do it the first time, you’ll never feel nervous again. (Of course, if paperwork just isn’t your thing, you can always hire an expert to do it for you, which we will discuss below). For now, let’s take a quick look at the basic information required, methods for filing, and the filing fee to expect.

Fill in the form with the required information

It is mandatory that your biennial report include the following info:

LLC business name

The name of your business is required at the top of your report. Please note that the report is not the vehicle by which to change your business name. If you wish to do that, you will need to file articles of amendment with the state.

Primary business address

Your LLC’s primary address is also required by the report, and just as with your LLC’s name, you are only reporting it here, not changing it. If you need to change it, please see the link above for further information.

Registered agent name and address

Your registered agent is the person or entity that collects documents on your behalf. You must list a registered agent, that registered agent must have an address within the state of Indiana, and you must report the current one.

Although a business cannot be its own registered agent, you can be the registered agent for your business, as can anyone else who is 18 or older and has an Indiana address. If you wish to change your registered agent, you can do so by submitting a change of registered agent form.

At least one officer/governing person

For most single-member LLCs, the governing person is the LLC’s owner. However, if you are part of a multi-member LLC, you can select one or more people to fulfill this role.

Business email address

Your report, lastly, will need to include an email address where a representative of the business can be reached. It must be current and easily accessible, because this is the address the state will use to contact you for various reasons, such as:

• Sending notices when your online records change
• Reminding you to pay fees
• Helping prevent identity theft

This is especially important because if you make a mistake and think you’ve filed when you haven’t, the state will contact you to let you know. If you don’t have a current email address on file, you won’t get those reminder emails, with potentially devastating results.

Choose one of the filing options

There are three basic ways to file your business entity report. Let’s take a look.

File online

If you wish to file online, you should take the following steps:

1. Head to this link.
2. Sign into your Indiana state business portal or create an account, if you don’t have one.
3. Navigate to the appropriate form.
4. Fill out the required information.
5. Submit the form.

Follow the steps to pay your $32 electronic filing fee.

File by mail

Filing by mail is a bit more expensive, but it’s still relatively simple. Download this form and fill it out, then mail it along with your $50 filing fee to:

Diego Morales

Secretary of State

Business Services Division

302 West Washington Street, Room E018

Indianapolis, IN 46204

File through a compliance service

If you don’t trust yourself to file on time or simply don’t want to worry about it, you can file your Indiana LLC biennial report with a compliance service. A reputable service will understand the laws in your state and ensure they comply on your behalf, so you never have to worry about your standing with the state.

Pay the filing fees

The Indiana LLC filing fee for the report is required, and it will depend on the format you’ve chosen. Each approach will clearly state how much you’re supposed to pay.

Keep in mind that “on time” filing means submitting both the necessary paperwork and the filing fee. If you forget the latter, the state will not consider your account in good standing.

What happens if you fail to file on time (or at all)?

There are no late fees in Indiana for failing to file your Indiana LLC biennial report on time. Rather, the state will take several steps to collect your report and filing fee. If you do not respond in a timely fashion, they will shut down your business.

Administrative dissolution or revocation

Officially, Indiana’s penalty for failing to file is “administrative dissolution or revocation,” where administrative dissolution refers to a domestic LLC, while revocation refers to a foreign company.

The state does not immediately dissolve your business. They will remind you that your report is due 90 and then 30 days before the due date. They will then send you an electronic past due notice, followed by a paper past due notice through the mail. If you still don’t respond, your business will be dissolved or revoked.

Once that happens, you have to reinstate your business before you can resume normal business activities. Doing so requires you to get clearance from the Indiana Department of Revenue, among other steps.

Conclusion

Although filing your Indiana LLC biennial report may not be the most thrilling experience, it is critical to keeping your business in good standing. If the biennial report and filing fee feel difficult to track and you’re worried you’ll get it wrong or miss the deadline, make sure you hire help.

Ready to get the assistance you need? Tailor Brands is here to make sure you’re always on time and aboveboard, so get in touch today!

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