Filing an annual report is one of those paperwork tasks that business owners in most states have to endure in order to stay in good standing. Wisconsin is certainly no exception to this trend. If you run an LLC or a corporation in the Badger State, you’re expected to fill out and send in an updated annual report according to a schedule set by the Wisconsin Department of Financial Institutions (DFI).
This doesn’t have to be a painful, time-consuming procedure, though. FastFilings has devised a simple online ordering system that leads you through the process of filing your annual report in Wisconsin, with just a little effort on your part.
Before you access our online platform, however, it’s important to understand what an annual report does and the filing requirements that pertain to your business.
What Is an Annual Report?
An annual report is a simple document that lists certain facts relating to a particular business. The purpose of an annual report is to keep the state government informed about the status of the business, and to update the public record. All information on an annual report is available for public inspection. Most states require some form of annual (or biennial) report.
In Wisconsin, the annual report includes:
- The name of the business entity
- Name and address of the registered agent (P.O. boxes are not acceptable)
- Principal office address of the business
- Names and business addresses of principals (directors, officers, managers, members)
- Number of authorized shares (for corporations)
The report must be signed at the bottom by an authorized person.
Who Has to File a Wisconsin Annual Report?
The State of Wisconsin requires an annual report from the following types of businesses:
- Business Corporations
- Nonstock Corporations
- Limited Liability Companies (LLCs)
- Agricultural Associations
- Common Law Trusts
- Limited Liability Partnerships (LLPs)
- Limited Partnerships (LPs)
- Cooperative Associations
Both foreign and domestic organizations fall under the requirement to file an annual report.
When Is a Wisconsin Annual Report Due?
That depends on whether the business is domestic or foreign.
For domestic entities, a business must send in its report every year after the calendar year in which it was registered with the state. The annual report due date is always the last day of the calendar year quarter when the registration was filed.
- If the business was registered Jan. 1 – Mar. 31, the annual due date is always Mar. 31.
- If the business was registered April 1 – June 30, the annual due date is always June 30.
- If the business was registered July 1 – Sept. 30, the annual due date is always Sept. 30.
- If the business was registered Oct. 1 – Dec. 31, the annual due date is always Dec. 31.
Foreign entities go by a different filing schedule. Their annual due date is always March 31, regardless of which calendar year quarter the business filed its registration.
What Happens If You Don’t File?
If you fail to file an annual report on time, your business will be placed in “Delinquent” status. This means the business is no longer in good standing with the state of Wisconsin. To resolve this issue, you need to file all past-due annual reports. There are no late charges, but you will have to pay the normal filing fee for each tardy report.
A domestic business that fails to file its reports for several years is subject to administrative dissolution. DFI will attempt to reach out to the business before dissolution is ordered, so you should have advance warning. The first attempt at contact is mailing a notice to the registered agent. If there is no response, DFI will mail a notice to the business’s principal office address.
For foreign businesses that miss the annual report deadline, the state imposes penalties in a much more speedy manner. If the annual report isn’t filed within four months of the March 31 due date, a foreign business is subject to revocation of its Certificate of Authority/Registration.
Trust FastFilings’ Online Annual Report Service
FastFilings has put together a simple, streamlined online ordering system that walks business owners through the process of submitting their Wisconsin annual report filing. It takes just a few minutes to input the necessary information.
To get started, visit our annual report page.