Once you have formed your Minnesota LLC, you must stay on top of your state’s filing deadlines in order to stay in good standing and avoid unnecessary fines or penalties.
This article answers the following questions for a Minnesota LLC:
What Is an Annual Report?
In Minnesota, an annual renewal (also known as an annual report) is a regular filing that your LLC must complete every year to update your business information, including:
- Principal executive office address
- Name and address of principal LLC official
The purpose of this report is to keep your business records up to date with the State of Minnesota. This allows creditors and other interested parties to look up your business address in case they need to contact you. The government uses this information to track the payment of your LLC state taxes.
How Do I File an Annual Renewal?
You can file your Minnesota LLC annual renewal with the Secretary of State. You must know your state file number prior to filing, which you can find with a business entity search.
OPTION 1: File Online With the Minnesota Secretary of State
- OR -
OPTION 2: File by Mail or in Person
Minnesota Secretary of State - Business Services
Retirement Systems of Minnesota Building
60 Empire Dr., Suite 100
St. Paul, MN 55103
Due Date: Minnesota LLC annual renewals are due by December 31 every year.
Late Filings: While there are no late filing fees, failure to file an annual renewal could result in the dissolution of your Minnesota LLC.
Should I Use a Registered Agent Service?
A registered agent is a person or business nominated by your company to officially receive and send papers on your behalf. By using a registered agent service, you can ensure that your LLC's reports are always filed on time to the appropriate government agency. Here are the three main advantages to using a registered agent service for your LLC:
- Avoid late filing penalties: The Secretary of State can dissolve a Minnesota LLC if it does not file an annual renewal. A registered agent service will notify you when reports are due, and they can also submit the filing for you for an additional fee.
- Gain flexibility: A registered agent service can receive and send documents for your LLC during regular business hours so that you don’t have to be on the job from 9 a.m. to 5 p.m. every week. You can also use a registered agent service to form an LLC in other states where you don't already have an established business presence.
- Maintain privacy: Using a registered agent service allows you to keep your personal address off of public records, ensuring your privacy. Additionally, if someone sues your LLC, the lawsuit will be served to the registered agent’s address rather than your place of business.
Learn more about getting a Minnesota registered agent by reading our guide.