Reminder to File Your Annual Report (And Why You Can’t Afford to Forget) (Copy)

It’s easy to overlook, but filing your business’s annual report is just as critical as staying on top of quarterly taxes. Many states—especially Illinois—require businesses to submit an annual report to remain in good standing. Missing this deadline can lead to late fees, administrative dissolution, or other avoidable headaches.

With the majority of our clients being registered in Illinois, we’ll focus there, but this is applicable to all of our clients, regardless of which state you’re registered in. Please refer to your state’s particular resources and guidelines, and reach out to your YBO partner if you’re unsure of where to start! 

In Illinois, annual reports are typically due on the first day of your anniversary month and can be filed online through the Illinois Secretary of State website. As mentioned above, if you're located elsewhere, we encourage you to check your state government's business portal for specific instructions and deadlines.

Filing is usually straightforward, but like everything, it can fall through the cracks when your team is lean and focused on bigger-picture goals. If you’re unsure whether your report has been submitted—or you just want us to take it off your plate—please reach out to your YBO partner. We’d be happy to review your status or handle the filing on your behalf.