What are the penalties for late LLC filing in Illinois?
What Are the Penalties for Late LLC Filing in Illinois?
Illinois imposes a $100 late penalty if your LLC's annual report is not filed within 60 days after the due date (805 ILCS 180/50-5). If the report remains unfiled 120 days from the original due date, the Illinois Secretary of State may administratively dissolve or revoke your LLC. Reinstatement requires a $200 fee plus all delinquent annual report fees and penalties.
The 60-Day Grace Period
Annual reports are due before the first day of your LLC's anniversary month each year (805 ILCS 180/50-1). The filing fee is $75. Your LLC becomes delinquent immediately after missing this deadline, but no penalty applies during the first 60 days. This grace period gives you time to file without financial consequences.
When the $100 Penalty Applies
On day 61 after the due date, a $100 late penalty is automatically assessed under 805 ILCS 180/50-5. This penalty applies whether you file on day 61 or day 119. You must pay this penalty in addition to the $75 annual report fee to bring your LLC into compliance.
Administrative Dissolution Risk
If your annual report remains unfiled 120 days from the original due date, Illinois will administratively dissolve or revoke your LLC. This terminates your business entity and removes your legal liability protection. Your LLC cannot conduct business during dissolution.
Reinstatement Requirements
To restore your LLC after administrative dissolution, file a reinstatement application with the Illinois Secretary of State and pay:
- $200 reinstatement fee
- $75 annual report fee (per delinquent year)
- $100 late penalty
- Any additional delinquency amounts required
File online at https://apps.ilsos.gov/llcarticles/index.jsp or contact the Illinois Secretary of State, Department of Business Services at (217) 524-8008 or 69 W. Washington St., Ste. 1240, Chicago, IL 60602.
Key Takeaway
File your annual report before your anniversary month begins to avoid the $100 penalty and risk of dissolution. Mark your calendar early and submit online to ensure timely compliance.
This is general information, not legal advice.