Tax Tip Tuesday: 2017 Biennial Report
If you are organized as an LLC, PLLC, or LP and are authorized to do business in Iowa, you most likely have recently received a postcard reminder from the Secretary of State, reminding you to file your Biennial Report. This report is due by April 1st of odd number years for LLC’s, PLLC’s, and LP’s. The report is filed in even numbered years by for-profit corporations including an S corporation.
The filing process is quite simple. You will need your Iowa entity number and pin number to access online filings or paper forms on the Iowa Secretary of State website. Both numbers can be found on the biennial report notice. Simply sign onto the website, enter the entity and pin numbers and choose whether to file online or by paper. The fee to file online is $30 and the fee to file by paper is $45. Even if you file online, you can still pay via a check for the $30 fee.
Once you have signed on, you will be asked to update the address of your registered office and agent, address of your principal office, and the names and addresses of your members/owners.
There is no fee for filing late, but if you do not file, your entity will be administratively dissolved or revoked. If you have misplaced your postcard reminder, you can call the Secretary of State’s office at 515-281-5204 and they will give you the entity and pin number over the phone.
Disclaimer: The items included in the Tax Tip Tuesday Video Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation. IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advise contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.