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Illinois Annual Report Service & Filing Instructions

Corporate Compliance by Local Corporate Guides®

All Illinois corporations, LLCs, nonprofits, and LPs must file an annual report each year with the Illinois Secretary of State, Department of Business Services. In addition to filing an annual report, every corporation must also pay an annual franchise tax. The following is an easy-to-read guide for how to file the Illinois Annual Report yourself. Our instructions also include due dates, filing fees, required information, and answers to questions you may have along the way.

Or, you can avoid the hassle of filing all together and hire us to do it for you!

Need to file in another state? Visit our State-by-State Annual Report Guide.

We'll File For You

We’ll worry about filing your Illinois Annual Report so you don’t have to.

  • Guaranteed On-Time Filing
  • Professional Preparation
  • Maintain Good Standing
  • Keep Your Company Active

Enhance Privacy

When we file your annual report, we help keep your personal information private.

  • Stay Off “Inactive” Lists
  • Keep State Info Current
  • State Records Monitoring
  • Update Records Instantly

Illinois Annual Report Service

$100 + State Fees
Rated 4.7 / 5 stars by 123 clients on Google

How to File Your Illinois Annual Report

Follow the steps below to successfully file your Illinois Annual Report:

  1. Determine your filing fee and due date.
  2. Complete your annual report online OR download a paper form.
  3. Submit your report and fees to the Illinois Secretary of State.

The following instructions will guide you through the process of filing your Illinois Annual Report.

Illinois Annual Report and Franchise Tax Due Dates and Fees

Illinois Annual Report Fee Schedule

Business Type

Cost

Due Date

How to File

Corporations – foreign and domestic

$75 plus

franchise tax

Before the first day of your anniversary month

Online or Paper Form

LLCs – foreign and domestic

$75

Before the first day of your anniversary month

Online or Paper Form

Nonprofits, Cooperatives, and Religious Corporations

$10

Before the first day of your anniversary month

Online or Paper Form

LPs – foreign and domestic

$100

Before the first day of your anniversary month

Paper Form

Late Fees: The penalty for failing to file an annual report and/or paying your franchise tax varies by entity. Corporations will be assessed 10% of the total franchise tax due. Nonprofits will pay an additional $3 and LLCs an additional $100. LPs won’t be charged a penalty fee; however, they may be administratively dissolved if no report is filed 60 days after their due date.

Don’t remember when you formed your business? You can easily look up your anniversary month by searching the Illinois Business Database.

Do I need to pay an Illinois Franchise Tax?

Only Illinois corporations pay the franchise tax. All other entities are exempt from the franchise tax.

How do I calculate my Illinois Franchise Tax?

The state of Illinois offers two ways of calculating your total franchise tax – and encourages businesses to use the process that results in the smallest amount due. Here’s a quick breakdown of both options:

1)The Allocation Factor: To use this method, you’ll need to know your corporation’s total gross assets and revenue.

Allocation Formula: b+d divided by a+c = your franchise tax

(a) total value of property owned (anywhere).

(b) total value of property owned in Illinois.

(c) total gross assets earned during the previous fiscal year (all locations).

(d) total gross assets earned from business conducted in Illinois during the previous fiscal year.

2) Paid-in-Capital: This method is based on the amount of money your business earns from its shareholders in exchange for stock. The first year, you’ll pay 0.15% of your total paid in capital. Afterwards, you’ll pay 0.1%.

Now, for some good news! As of January 2020, the state of Illinois began the process of eliminating the franchise tax. What does that mean for you? Well, until 2024, you’ll still need to pay it, BUT each year a specific amount will be exempt – see the chart below.

Illinois Annual Franchise Tax Exemptions Amount

Filing Period Exemption Amount
January 2020 – December 2020 The first $30
January 2021 – December 2021 The first $1,000
January 2022 – December 2022 The first $10,000
January 2023 – December 2023 The first $100,000
January 2024 & after NO FRANCHISE TAX!

So in 2020, if either calculation method (allocation or paid in capital) results in an amount less than $30, then your total franchise tax due will be $0.

Filing Your Illinois Annual Report

Although most Illinois Annual Reports can be filed online or by mail, there are a few exceptions you’ll need to consider.

You can only file by mail if any of the following is true:

  1. You have a foreign corporation or nonprofit.
  2. You have an LP – foreign or domestic.
  3. Your corporation has seven or more officers/directors.
  4. There have been changes in authorized shares, issued shares, and/or paid in capital.
  5. Your LLC has been administratively dissolved or revoked.

To File Online:

  • Go to the Business Services page on the Illinois Secretary of State website.

  • Click the link for your business type.

  • Click the link for “Annual Report.”

  • Select the “File” button at the bottom of the page.

To File by Paper:

  • Go to the Publications/Forms page on the Illinois Secretary of State website.

  • Select the link for your business type.

  • Click the link for “Annual Report.”

  • The form will automatically download onto your computer.

Here’s a complete list of everything you’ll need to include, verify, and/or update on the Illinois Annual Report:

  • Business file number. You can find your file number by searching the Illinois Business Database.

  • Business name.

  • Registered agent name and address. You can’t change or update your Illinois registered agent by filing an annual report. If you need to update your registered agent, you’ll need to file a Statement of Change of Registered Agent and/or Registered Office. There is a $25 filing fee.

  • Business address.

  • State or country of formation.

  • Date of formation or registration in the state.

  • Officer/director or member/manager names and addresses.

  • Corporation stock information: include class, series, par value, and total number authorized and issued.

  • Franchise tax calculation – corporations only.

  • Signature, title, and name of person filing the annual report.

Online filings must be paid with a credit card. Mailed filing must include a check or money order payable to “Secretary of State.”

Don’t want to stress about remembering to file, late fees, or potential penalties? Hire Northwest Registered Agent to file your Illinois Annual Report for you! We’ve got you covered!

Get Illinois Annual Report Service Today!

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How Our Illinois Annual Report Service Works

For $100 plus the state-mandated report fee, we’ll file your annual report. For most domestic LLCs, that’s $175 total. If you own an Illinois corporation, we will send you the completed annual report for you to add your tax information, then submit the report for you.

  • You can sign up for this service by itself or add it on to an existing service. Compliance service is also automatically added when you hire us to provide your registered agent service or form your Illinois LLC, Illinois corporation or Illinois nonprofit.

  • Once you’ve signed up for business renewal service, you’ll pay nothing up front. We’ll send you a reminder 90 days before your filing due date and auto-charge your preferred method five days later.

Annual Report Service Benefits

At Northwest Registered Agent, we’re committed to protecting our clients’ privacy. Illinois Annual Reports are public record, so we’ve designed our annual report service to protect your privacy. Here’s how:

  1. In order to preserve your privacy, we will list OUR contact information instead of yours.

  2. Only the minimum required information will be included.

  3. We will list our IP address – limiting the connection between your cell phone, personal computer, and work computers – this makes it harder for advertisers to follow you.

  4. We will list our bank and credit card information – not yours.

We believe everyone has the right to keep their information private. That’s why privacy is our guiding principle when we create every service and product.

Illinois Annual Report FAQ

Does the state of Illinois require initial reports?

No, new businesses in Illinois do not have to file initial reports.

What happens if I don’t file my Illinois Annual Report?

The penalty for failing to file an Illinois Annual Report will vary by business type. Corporations will be charged 10% of the total franchise tax due. Nonprofits will be charged an additional $3 and LLCs $100. LPs won’t be assessed a late fee; however, your business may be administratively dissolved or revoked if no report is submitted within 60 days after your due date.

How long does Illinois Annual Report processing take?

Online filings are processed immediately. Mailed filings take significantly longer – 10 to 15 business days. Need expedited filing? Add an additional $50 (corporations, LLCs, LPs) OR $35 (nonprofits).

Who can file an Illinois Annual Report?

After starting a business in Illinois, your Illinois Annual Report can be filed by anyone authorized to act on behalf of the business. This could be an officer/director, member/manager, or someone your company hires to file the annual report on its behalf. Or, hire Northwest Registered Agent for business renewal service, and we’ll file it for you!

Do Illinois Annual Reports need original signatures?

No, Illinois doesn’t require original signatures. Annual reports can be submitted with electronic signatures.

Where can I get more information about the State of Illinois Annual Report filing?

Illinois Secretary of State
Department of Business Services
501 S. Second Street, Room 350
Springfield, IL 62756
T: (212) 782-7808

Hire Us To File Your Illinois Annual Report

Corporate Compliance
by Local Corporate Guides®