Iowa Biennial Report: Everything You Need to Know
An Iowa biennial report is required of all limited liability companies that conduct business in this state. This report must be filed every two years.3 min read
2. Biennial Report Processing and Fees
3. Biennial Report Due Date
4. Consequences for Not Filing a Report
5. State Filing Reminder
6. Steps to Filing Your Report By Mail
An Iowa biennial report is required of all limited liability companies that conduct business in this state. This report must be filed every two years.
Intro to Iowa Biennial Report
Filing a biennial report is one of the most important requirements for LLCs in Iowa. By filing this report, you will be maintaining your company's good standing and complying with state regulations. You have the option of filing your biennial report online or via mail.
Biennial Report Processing and Fees
The filing method you choose will determine both your filing fee and the amount of time it takes the state to process your report. When you file your Iowa biennial report by mail, you will need to pay a $60 filing fee. Once you have filed your report, you can expect processing to take between 7 and 14 business days.
Filing online only costs $45, and your report gets processed immediately. As it is quicker and more cost-effective, filing a biennial report online is the best choice for almost every LLC in this state.
Biennial Report Due Date
Your LLC must file its initial biennial report in the first odd-numbered year after the year in which you establish your company. During this odd-numbered year, you will need to file your report sometime between January 1 and April 1. After this first report, you will file subsequent biennial reports on all odd-numbered years.
For example, if you formed your LLC in 2018, then you would need to file your initial report in 2019, and then every two years after this point. On the other hand, if you established your LLC in 2019, an odd-numbered year, you wouldn't file your first report until 2021, which is the next odd-numbered year.
Consequences for Not Filing a Report
LLCs that fail to file their report by the April 1 deadline will receive a status of ‘delinquent.' If you do not submit the report by August of the same year, the state will dissolve your LLC. Make sure to file your biennial report on time so that your company will remain in good standing and can continue operations.
State Filing Reminder
Iowa wants to make sure that all LLCs file their biennial report on time, which is why the state mails reminder cards on odd-numbered years. The green reminder post card gets mailed to your Registered Agent in January of the year your report is due. On the postcard, you will notice two numbers: A corporation number and a temporary passcode. You will use your temporary passcode to file your report, whether you choose to do so online or by mail.
You can contact the Secretary of State if you have not received your passcode. If your Registered Agent has an email address, they will also receive an electronic reminder. Your Registered Agent will also receive reminders about future due dates. Even if you have not received these reminders, you are still required to file your biennial report. Not filing your report can result in your company being shut down, and not receiving your reminders will not prevent dissolution.
Steps to Filing Your Report By Mail
You can follow this simple step-by-step guide if you wish to file your Iowa biennial report by mail:
- Visit the Iowa Secretary of State Website.
- Use your corporation report and temporary code to access your report. Then, select the ‘file by paper' option. You can find your corporation number on the SoS website, and you can call the SoS office if you haven't received your temporary code.
- Submit the email address of your Registered Agent. If there is an address listed, confirm that it is correct. Future reminders will be sent to this address.
- Read the instructions and then click the button labeled ‘click for your paper report.'
- Your biennial report will load after clicking the button. Print the report so that you can fill it out.
- Fill out your biennial report with all the required information. There are some questions that you will need to answer. After you're finished filling out your report, sign and date the document. Mail your report to the Secretary of State and make sure to include the $60 filing fee.
- Once you have submitted your report, you will need to wait for it to be processed. Typically, processing takes one to two weeks. You will not receive a receipt after mailing your report. You can check online to see if your report has been processed.
If you need help with your Iowa biennial report, you can post your legal needs on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.