How to File an LLC Biennial Report in Nebraska

To keep your Nebraska LLC in good standing, you’re required to file a biennial report every two years. This simple filing helps the state keep your business information up to date – but missing the deadline can lead to penalties or even dissolution. In this guide, we’ll walk you through what the Nebraska LLC biennial report is, when it’s due, how to file it, and what it costs.

Keeping your limited liability company (LLC) compliant is crucial for maintaining your legal protections and avoiding fines or dissolution. If you’re opening an LLC in Nebraska, one key compliance requirement to be aware of is filing a biennial report. This mandatory report provides updated information about your LLC to the state and keeps your business active and in good standing.

Failing to properly file your biennial report can lead to serious consequences, including fees, penalties, and potential dissolution of your LLC by the state of Nebraska. To avoid these outcomes and remain compliant, partnering with a service can be highly beneficial. Their team of experts can monitor your due dates and handle your biennial report filings for you, giving you peace of mind that this critical requirement is met on time.

Here’s everything you need to know about Nebraska LLC biennial reports, from requirements and filing to what happens if you fail to file.

What to know about a biennial report in Nebraska

A biennial report is a filing due every other year that provides updated information about your LLC to the Nebraska Secretary of State. This mandatory report confirms that your LLC is still active and ensures the state has your current registered agent and business information.

Purpose of the biennial report

The main purposes of the biennial report are:

• To confirm your LLC is still operating and wishes to remain active in Nebraska
• To update any changes in your registered agent, managers, business address, purpose, etc.
• To provide updated contact information to the state
• To maintain compliance and remain in good standing

Without filing this report, your LLC could face dissolution by the state or loss of good standing status. So it’s crucial to understand the requirements and file on time.

Additional details on the purpose

Beyond the core purposes outlined above, the biennial report serves a few additional key functions:

• It allows the state to remove inactive or non-compliant LLCs. Requiring this regular filing ensures only legitimate and operating LLCs remain officially registered and in good standing.
• It acts as a point of reconciliation between your LLC’s information on file and any changes that occurred over the past two years. Keeping this data updated ensures accuracy.
• It provides ongoing oversight and monitoring to guarantee LLCs follow regulations and requirements. The need to file every two years motivates LLCs to remain compliant.
• It supplies revenue for the state through collection of the $25 filing fees from LLCs registered in Nebraska. Most states depend on biennial filing revenue.

So, in short, the biennial report allows the Secretary of State to clean up their registrations, collect updated details, monitor compliance, and generate revenue from registered LLCs.

Nebraska biennial report filing fees

The fee to file your Nebraska biennial report is $25. This must be paid at the time of filing, either online or by mail. The $25 biennial report filing fee helps offset administrative costs for processing reports and maintaining updated LLC records and information.

This fee is non-refundable, even if your LLC ends up being dissolved or terminated for failure to file properly. All LLCs registered and in good standing in Nebraska are required to pay the fee as part of meeting their biennial report obligations.

Biennial Report Due Dates

Your LLC’s biennial report will be due every other year on the anniversary month of your original articles of organization filing date.

For example, if your LLC was formed on March 15, 2021, your biennial reports would be due on March 15, 2023, March 15, 2025, March 15, 2027, etc.

It’s essential to file during the anniversary month to avoid late fees. Nebraska does provide a grace period, but late fees will still apply if you miss your exact due date. Be sure to calendar or diary your specific biennial report due dates as soon as you form your LLC to ensure you meet these ongoing compliance obligations.

How to file a biennial report in Nebraska

Filing your biennial report only takes a few steps. Here is an overview of what’s required:

Fill out the report with required information

You’ll need to provide the following information on your Nebraska biennial report:

• LLC name
• Primary business address
• Names and addresses of all members/managers
• Business purpose and industry
• Registered agent name and address
• LLC’s EIN number
• Nebraska reference/identification number

Take time to carefully and accurately fill in all required fields. Verifying this information is current before submitting the report is wise.

Errors or outdated data could lead to potential rejection of your filing or delays until corrected. You want to get it right the first time and file a complete, compliant biennial report.

Consider reviewing your full LLC records to confirm none of the required information has changed since your last biennial report or formation filing.

Choose your filing method

You have three options to file your biennial report in Nebraska:

File Online

You can conveniently file your biennial report online through the Nebraska Secretary of State website. This only takes a few minutes and you’ll get instant confirmation of acceptance.

Filing online is typically the fastest and easiest method. You receive immediate notification when your report is received and processed. Just be sure to have your payment information handy.

File by mail

Download the biennial report form and mail the completed copy along with your $25 payment to:

Nebraska Secretary of State
Business Services Division
P.O. Box 95104
Lincoln, NE 68509

With mail filing, you’ll want to send your report early to ensure it is received by the due date deadline. Allow at least 10 business days for processing.

Use a compliance service

You can work with a compliance company like Tailor Brands that will handle monitoring due dates and filing your biennial report for you. This ensures you meet the deadline and removes the burden of tracking requirements.

Using a compliance service gives you assurance that experienced professionals are managing this reporting requirement for your LLC. You’ll avoid any penalties or dissolution without having to remember to file yourself.

Pay the $25 filing fee

Whether filing online, by mail or through a service, you must pay the $25 fee. This can be paid via credit card (online) or check (by mail). Ensure you include this payment with your biennial report.

Having a rejected filing because you forgot the required $25 fee could lead to missing your due date, so be sure to include payment. Some compliance services will pay the fee as part of their service.

File on time

To avoid late fees, be sure to file your Nebraska biennial report during your anniversary month. Mark your calendar ahead of time so you don’t miss this important deadline.

Give yourself at least 5-10 days cushion within the month to allow for any potential delays or errors in submission. You don’t want to risk trying to file on the actual due date and running into issues that could cause a late filing. Plan ahead and file early.

What happens if you fail to file on time?

Unfortunately, there can be serious consequences in Nebraska if you do not file your biennial report on time, such as:

Late fees

If you miss your due date, even by one day, you will incur a late fee of $65 in addition to the $25 filing fee. This brings the total to $90 if filing late.

You have a 30-day grace period after your due date to file and only pay the late fee. But any later could lead to dissolution, so don’t wait! Pay the extra $65 late fee within 30 days if you miss your deadline.

Administrative dissolution

If your biennial report is overdue by more than 30 days, your LLC risks administrative dissolution by the state. This essentially terminates your LLC’s existence in Nebraska.

You can retroactively reinstate a dissolved LLC by filing back reports and paying all fees and penalties. But it’s best to avoid dissolution altogether by filing on time.

Having your LLC administratively dissolved creates major complications and expenses. You’ll want to consult an attorney to understand your options and follow the proper steps to reinstate – which could take months.

Loss of good standing

Even if you miss the deadline by just one day, your LLC will no longer be considered in “good standing.” This could limit your ability to conduct business, including issues opening bank accounts, getting loans, signing contracts, etc.

Lenders, vendors, and partners may refuse to work with an LLC that’s not in good standing. So you risk significant business disruptions by losing your compliant status. Get any late filings up to date ASAP.

Additional penalties

If your LLC conducts business in Nebraska after administrative dissolution, you could face fines of up to $500 per violation. This is why it’s so important not to miss your biennial report deadline.

On top of hefty fines, continuing operations after dissolution could expose your LLC members to personal liability since your legal protections are suspended. Don’t take chances – keep your filings current.

Conclusion

As you can see, remaining compliant with Nebraska’s mandatory biennial report for LLCs is crucial. Be sure to track your upcoming due date, gather all required information, and file during your anniversary month. Reach out to Tailor Brands if you need any help meeting this important requirement for your Nebraska LLC. Staying active and in good standing will save you penalties down the road!

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