Starting an LLC in New Hampshire 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 New Hampshire: 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 New Hampshire. 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 New Hampshire will require from you:
- Legal name of the business
- Business ID
- Name and address of your registered agent
- Principal office address
- Email address for the business
- Names and addresses of the members or managers
- Name of the person filing the form
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 that’s a good instinct, since you’ll use their website to file it each year.
More specifically, you’ll use NH QuickStart to fill out the report electronically (and you can use it for a wide variety of other business filings, too). If you’d rather file by mail, you can. But you’ll use the online portal to complete most of it. Towards the end, you’ll see a button to “Mail with Check.” Click that, and you’ll get further instructions to print it off and mail it in.
We think it’s easier to file online, but you can choose the option that’s most comfortable and convenient for you.
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 New Hampshire 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 New Hampshire’s 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. New Hampshire falls in line with the average; they charge $100. And naturally, how you file will affect how you’ll pay. If you file online, you’ll pay using a credit or debit card. But mail-in filings should be accompanied by 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 New Hampshire, the annual report fits its name; you’ll file every year.
More specifically, all New Hampshire LLCs will file their annual report by April 1st regardless of when you formed the LLC. The only exception is your first year of business; you file your first one in the calendar year after starting the business. For example, if you filed your Certificate of Formation in the first quarter of the year, you wouldn’t file an Annual Report until the next year.
If you don’t file on time, you’ll get hit with a $50 late fee.
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.
More importantly, though, failing to file your annual report can cost you your good standing in the state. If you leave your report delinquent for long enough, the state can administratively dissolve your business. Long story short, they’ll shut down your business by force. If that happens, don’t panic; you can get reinstated. But it’s a hassle to do so. It’s much easier to simply file your report on time each year and avoid the hassle entirely. You’ll save yourself a lot of time and money.
Conclusion
Maintaining a New Hampshire 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.