Starting an LLC in Kansas is not for the faint of heart. Maintaining one isn’t, either. There’s a bunch of annual requirements: annual taxes, business licenses to renew, and of course, annual reports. A lot of the annual requirements can be pretty complicated, too.
Annual reports can be pretty complicated…but only if you don’t know what to expect. That’s what we’re here for. In this guide, we’ll cover all the essentials to annual reports in Kansas: LLC filing fees, where to file, due dates, and if you want, where to go to get help filing. By the end, the annual report won’t feel so daunting anymore.
What is an annual report?
An annual report is a lot like an annual newsletter for your LLC—except you only send it to one place: the state government. Each year, the state needs updated information about your business. And this isn’t a requirement that’s unique to Kansas. In fact, nearly every state requires some form of annual (or similar timeline) update.
That said, the newsletter analogy falls short because you don’t need to tell the state what you did each month. You don’t even have to tell them the highs and lows of your year. And thankfully, you don’t have to write it out as a letter. All you’ll have to do is fill out the requested information.
Here’s a quick glance at the information Kansas will require from you:
- ID number for your business
- Legal name of your LLC
- Date when your tax period ends
- State where you organized the LLC (usually Kansas unless you’re a foreign LLC)
- Names and addresses of members (only those who own 5% or more of the capital)
- Federal EIN
Sound overwhelming? Don’t panic. It’s actually a lot easier than you might think! In the rest of this guide, we’ll cover all the essentials to annual reporting—including a DIY approach and how to get help if you’d rather not file on your own.
Where do I start?
When the time comes to file your annual report, your gut might tell you to head to the Secretary of State’s website. And your gut would be right; Kansas offers an online portal that makes it easy to file your report as quickly as possible.
If you’d rather file by mail, Kansas offers a pdf of the form. You’ll have to download it, print it, fill it out, and then mail it into the Secretary of State. Alternatively, if you live close to the Topeka office, you can drop it off in person.
The annual report isn’t extremely difficult to fill out, honestly. But if you’re extremely busy (and who isn’t these days?), the report can seem overwhelming—it’s yet another thing you have to do. That said, you can hire a Kansas LLC Service to handle the work for you. Not only will these services actually form your business for you (if you need it), but they’ll also help you handle annual requirements like the annual report.
How much does a Kansas Annual Report cost?
Some states have a pretty hefty price tag of several hundred dollars for their annual report. Other states charge more reasonable fees of less than $100. Kansas falls on the more affordable side of that range: just $55. Be sure to include the proper payment, because if the filing fee is missing, Kansas will not accept your filing.
How you pay your filing fee will largely depend on how you file the report. If you file online, you should have a credit or debit card on hand to pay the fee. E-checks are also an option. But if you file by mail, it’s best to include a check or money order.
When is the Annual Report due?
In most states, the annual report is due, well, annually. In other states, entrepreneurs often refer to it as an annual report even though it’s due every other year. But in Kansas, the annual report fits its name; you’ll file every year.
More specifically, Kansas LLCs will file their annual reports in conjunction with their annual tax period. So for most LLCs, the due date is April 15th. If you use an alternate tax calendar, the due date is the fifteenth day of the fourth month after the close of your fiscal year.
What happens if you don’t file your annual report?
Sometimes annual check-ins are a pain, right? And we get it: with some things, like annual physicals, dental cleanings, and eye appointments are tempting to skip. Usually, there isn’t a big penalty if you skip them for a year or two (aside from a minor scolding from your doctor).
However, that isn’t the case with annual reports. You should never skip filing your annual report, and you should always do it on time. For one thing, filing on time ensures that you don’t spend any more than you have to.
Technically, Kansas doesn’t charge a late fee if you don’t file on time. There are other consequences, though. If you let 90 days go by without filing, Kansas will administratively dissolve your LLC. If that happens, don’t panic; you can get reinstated.
Unfortunately, getting reinstated is a hassle. And it’s expensive. You’ll have to pay a $35 fee for the reinstatement application and a $85 penalty. Plus, you need to pay for each outstanding report. So if you’ve missed more than one year, you’ll have to pay a fee for every single one.
It’s much easier to avoid all of this hassle by just filing your annual report on time each year. You’ll save yourself a lot of time and money.
Maintaining a Kansas LLC is no laughing matter, and the annual report is without a doubt one of the most important annual filings. Thankfully, it doesn’t have to be too complicated. Hopefully this guide has helped take out some of the guesswork. And don’t forget: an LLC Service can make things even easier.