Oregon LLC Annual Report: Everything You Need to Know
An Oregon LLC annual report is a necessary part of the LLC maintenance process. 3 min read
An Oregon LLC annual report is a necessary part of the LLC maintenance process. After you create an Oregon LLC, you must submit the annual report and pay the filing fee of $100. The report updates the registered agent address, along with any other information regarding your LLC. You have to submit an annual report to keep your business in good standing with state officials.
The main goal of annual reports is to keep your LLC current with Oregon authorities. Also, the report allows other parties, such as creditors, to look up a business address in case someone needs to reach you. For the most part, you’ll be amending, removing, or adding vital information about your LLC. Oregon uses such information from the report to track whether your LLC paid state taxes.
- Note: Oregon LLC annual reports are due annually on the day your LLC was created. For instance, an LLC created on November 15, 2017, must submit an annual report by November 15, 2018.
The anniversary date of your LLC is when Oregon officials approve the creation of the business. You can find such a date on your articles of organization, or you can input your LLC name through the Oregon Registry. The secretary of state gives your business a grace period of 45 days after the annual report’s due date. If you fail to file, officials will dissolve your LLC. To reinstate the LLC, you need a reinstatement form, and you must pay a $100 penalty. You must also file previously missed annual reports, including missed filing fees.
Upon filing the report online, you must wait 1-2 business hours for approval. Business hours are from Monday through Friday, 8 a.m. to 5 p.m.
- Note: The report will be approved at the regular time, so long as you submit the document during weekdays and before 3 p.m. If you file after 3 p.m, or during the weekend, the report will be processed the following business day.
After processing, you’ll get an email acknowledging the submission. You may file the report when you get a reminder notice from Oregon officials. The notice will be issued to you via mail roughly 45 days before the report’s due date.
- Note: The secretary of state office will send the reminder to your business address. If, for some reason, you do not have a mailing address on file, the notice will be sent to the address of your registered agent.
The reminder notice includes an annual report form you can return via mail. However, officials prefer that you file it online. If you fall within the early filing window, you may file your report online, but the website will tell if you if you’re filing too early.
The primary reason that an LLC shuts down is because owners fail to file annual reports. Further, you must still submit the annual report even if you do not get the reminder notice in the mail. For this reason, you should place a reminder on your phone or computer, in addition to writing the due date where you can plainly see it.
To file, you’ll need to locate your registry number. You can find such a number on your articles of organization, or you can find it here. After, you must enter the registry number on this page. Enter your email address, which will be the email address where you will get the acknowledgment letter. From there, click on “Start Renewal” at the bottom of the page. Update any information regarding your business, or you may leave everything as-is if you do not need to make changes.
If you added a commercial registered agent, choose “Entity of Record,” and enter the commercial registered agent number. Enter the commercial agent name and the physical address. You’ll also see a section for managers and members, and you should leave everything as-is if you added or lost LLC personnel. When finished, proceed to the next page, where you’ll review, pay, and sign the document.
- Note: At least one person must sign. If you wish to add more signatures, you can add additional fields upon signing the report.
If you wish to learn more about an Oregon LLC annual report, submit your legal inquiry to our UpCounsel marketplace. UpCounsel’s attorneys will assist you in submitting annual reports on time, and they will help you through the necessary filing procedures if you need to create an LLC. In addition, they will help you determine if an LLC structure is the right fit for your business.