Tax Tip Tuesday: Iowa Biennial Reports
If you are organized as an LLC, PLLC or LP and authorized to do business in Iowa, you most likely have recently received a reminder letter/notice from the Iowa Secretary of State to file your Biennial Report. This report is due by April 1st of odd numbered years for an LLC, PLLC or LP and is filed in even numbered years by for-profit corporations including S corporations.
The filing process is quite simple. You will need your Iowa entity number and temporary code to access online filings or paper forms on the Iowa Secretary of State website. Both numbers can be found on the notice you received. If you have misplaced your reminder notice, you can call the Iowa Secretary of State office at (515) 281-5204 and they will give you the entity and temporary code over the phone.
Instructions for Online Filing:
Sign onto the website at sos.iowa.gov/file/br.
Enter the entity and temporary code.
Choose whether to file online or by paper. Note: The fee to file online is $45 and the fee to file by paper is $60. Even if you file online, you can still pay via a check for the $45 fee.
Once you have signed on, you will be asked to update your contact information (the address of your registered office and agent, address of your principal office and the names and addresses of your members/owners).
Follow the online instructions to complete the form.
There is no fee for filing late, but if you do not file, your entity will be administratively "dissolved" or "revoked".
Disclaimer: The items included in the Tax Tip Tuesday 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 advice 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.