What Is in an Annual Report for a LLC in Michigan?

Michigan requires limited liability companies registered in the state to file an annual statement and professional limited liability companies to file an annual statement and report. The information required in the report is minimal and is designed primarily to keep your registration up to date and legally in good standing.

Deadline to File Annual Statements

LLCs and PLLCs must file annual statements and reports by Feb. 15. Companies that form after Sept. 30, or a foreign LLC authorized to do business in Michigan after that date, do not need to file an annual statement in the February immediately following their formation or authorization.

What to Report

LLCs need to confirm the name of its resident agent along with the agent's mailing address and street address. The resident agent is the person or business authorized to receive all legal documents from the state and courts. A PLLC in its annual statement and report must also list the names and address of all members, as owners are called, and managers. The report must also certify that each member and manager is licensed in one or more of the professional services the company provides. Doctors and attorneys are among the licensed professionals who can be members of a PLLC.

Fees

LLCs pay $25 for filing their annual statements. There are no late fees for an LLC. A PLLC pays $75 for its annual statement and report, and faces a late fee of $50 if not filed by Feb. 15.

Staying in Good Standing

Both an LLC and a PLLC must submit their annual statements and pay outstanding fees within two years of their due date or the state no longer considers the company in good standing. If an LLC or PLLC loses its legal standing, the members lose their liability protection. Without the protection, members' personal assets may be seized to pay for any claims or debts held against the company. LLCs and PLLCs can restore their status by submitting a certificate of restoration of good standing along with the annual statements and fees for all years the statements were not filed and paid. The certificate of restoration also carries a $50 fee.

Filing

Michigan's Department of Energy, Labor and Economic Growth mails a preprinted annual statement for LLCs or annual statement and report to PLLCs to the companies about three months prior to the Feb. 15 due date. The statement can be mailed back with the fee, or it can be filed online at the DELEG website.

References

About the Author

Tom Chmielewski is a longtime journalist with experience in newspapers, magazines, books, e-books and the Internet. With his company TEC Publishing, he has published magazines and an award-winning multimedia e-book, "Celebration at the Sarayi." Chmielewski's design skills include expertise in Adobe Creative Suite's InDesign and Photoshop. He holds a Bachelor of Arts in English from Western Michigan University.