Does Illinois Have a State BOI Requirement?
No. Illinois does not impose a state-level Beneficial Ownership Information (BOI) requirement. Illinois LLCs must file annual reports under 805 ILCS 180/50-1 and 180/50-5 that include names and business addresses of managers and members with manager authority. This is distinct from federal FinCEN BOI reporting, which applies to most business entities nationwide under the Corporate Transparency Act.
What Illinois Actually Requires
Illinois LLCs must file an annual report before the first day of the LLC's anniversary month each year. The $75 filing fee covers:
- LLC legal name and file number
- Jurisdiction of organization
- Principal place of business or records office information
- Names and business addresses of managers and members with manager authority
- Registered agent and registered office information
This annual report is not a BOI filing. It serves as Illinois's standard business registration maintenance requirement under state law.
Federal BOI vs. Illinois Annual Reporting
While Illinois has no state BOI law, federal FinCEN BOI reporting may still apply to your LLC. The Corporate Transparency Act requires most business entities to report beneficial ownership information to FinCEN—a separate federal obligation from Illinois state filings. You may need to comply with both:
- Illinois: Annual report with manager/member names (state-level)
- FinCEN: BOI report with beneficial owner details (federal-level)
Filing Deadlines and Penalties
File your Illinois annual report online at https://apps.ilsos.gov/llcarticles/index.jsp before your anniversary month deadline. Missing the deadline triggers a $100 penalty after 60 days and potential administrative dissolution after 120 days of delinquency (805 ILCS 180/50-5). Reinstatement requires a $200 fee plus all delinquent report fees and penalties.
Next Steps
- Confirm federal BOI applicability – Determine whether your LLC meets FinCEN's reporting threshold under the Corporate Transparency Act.
- File Illinois annual reports on time – Submit required disclosures to the Illinois Secretary of State before your anniversary month deadline.
- Maintain current records – Keep manager, member, and registered agent information current for annual report filings.
Contact the Illinois Secretary of State, Department of Business Services at (217) 524-8008 or visit https://www.ilsos.gov/ for annual report guidance.
This is general information, not legal advice.