One requirement for maintaining a Limited Liability Company (LLC) or corporation in the state of South Dakota is filing an Annual Report. The Report confirms and updates the company’s information each year with the South Dakota Secretary of State.
Related: How to form an LLC in South Dakota
Who Needs to File an Annual Report?
Domestic and foreign corporations and LLCs are required to file an annual report each year after the year the company was formed.
What is Needed to File a South Dakota Annual Report
You have the option of filing your Corporation and LLC Annual Report online or by mail. To file online, visit the South Dakota Secretary of State’s website, otherwise, you can download and fill out the Annual Report.
The report asks for information such as:
- Legal name of the entity
- Principal address of the business
- South Dakota Registered Agent name and address
- Names and addresses of the principal officers, directors, members, and/or managers
Processing is immediate with the online filing or 5-7 business days when filing by mail.
South Dakota Annual Report Fee
The filing fee for the South Dakota Annual Report for either the Corporation or LLC is $50.
Annual Report Due Date
The Annual Report deadline is the last day of the anniversary month the Corporation or LLC was formed.
The first annual report isn’t due until the year following formation. For example, if your LLC or Corporation was formed on January 1st, 2024, the first Annual Report will be due January 31st, 2025.
The South Dakota Secretary of State’s office emails an Annual Report reminder in advance of the due date. Even though a reminder is sent, it’s important to make an additional reminder for yourself should you not receive it.
South Dakota Annual Report FAQs
My business made little or no money. Do I still have to file the South Dakota Annual Report?
Even if your South Dakota corporation or LLC received no income or had no business activity, the Annual Report is still required to be filed.
What happens if you don’t file the Annual Report on time?
If the Annual Report isn’t filed on time, a $50 penalty is assessed, and the business entity’s status will change from “Good Standing” to “Delinquent.” Not being in good standing may make it difficult for the entity to prove its existence when signing up with new vendors, loans, etc.
If the report isn’t filed within 60 days of the due date, the South Dakota Secretary of State will begin the process of administrative dissolution to revoke the entity.
South Dakota Secretary of State Contact Information
South Dakota Secretary of State
Business Services
215 E. Prospect Ave.
Pierre, SD 57501
If you have questions, they can be contacted at 605-773-4845 or corpinfo@state.sd.us.
