SOS - Business Services Appointment Scheduler   Beneficial Owner Reporting Requirement

All Businesses Registered with the Secretary of State Must File a Business Entity Report

• Corporations, Limited Liability Companies, Nonprofit Corporations, Limited Partnerships, Limited Liability Partnerships, Benefit Corporations, Business Trusts and Agricultural Cooperatives are required to file.
• General Partnerships and Sole Proprietorships do not register with the Secretary of State and do not file a report.

Required Information in the Business Entity Report

This is your opportunity to make sure your business information is current. The following information must be added or updated:

• Principal office address
• Registered agent name and address
  • The registered agent is an individual or business authorized to receive service of process, notice or demand that is served on the business.
  • The registered agent address must be an Indiana address. If you do not have an Indiana address, you may hire a service company or law firm to serve as your registered agent.
  • A business cannot serve as its own registered agent.
• Depending on the entity type, at least one officer or governing person
  • A governing person is an individual under whose direction the activities and affairs of the entity are managed. This includes officers, directors, general partners, managers (if manager-managed) and members (if member-managed).
• Business email address
  • It is essential that you maintain a current business email address. You will receive reminders to pay your report and notices when changes to your business record are submitted on INBiz. These notices will help you prevent business identity theft.
• Professional Corporations must include at least one shareholder that is licensed in Indiana as a professional. The shareholder information must exactly match the data maintained by Indiana Professional Licensing Agency (IPLA).

When the Business Entity Report is Due

• First Report: The first report is due two years after the business is formed or registered.
• Filing Cycle: Reports must be filed every other year to maintain the business’ active status.
• Due Date: The month and day the business was formed or registered. You have until the end of the month before the report is considered past due.
• Search: You can use the Business Search to determine the due date. Locate your business in the search results and click the Business ID. The Business Details page displays the due date.

Where Reports are Filed

• Business Entity Reports are filed with the Indiana Secretary of State. Reports can be filed on INBiz or submitted by Paper.
• Benefit of Filing on INBiz
  • INBiz helps ensure filings are not rejected. 90% of paper forms are rejected due to forms being filled out incorrectly.
  • INBiz also provides faster processing times and lower filing fees.

Why Business Entity Reports are Required

The Secretary of State must maintain a public record of businesses operating in Indiana. It is essential that the information is current.

Indiana Statute requires businesses to submit a Business Entity Report. See Indiana Code 23-0.5-2-13.

Consequences of Failing to File

Failing to file a Business Entity Report will result in the administrative dissolution or revocation of your business. Indiana businesses are administratively dissolved, and foreign businesses are revoked.

Why it’s Important to Avoid Administrative Dissolution or Revocation

• Administratively dissolved or revoked businesses may not carry on any business activities except applying for reinstatement or those activities necessary in winding up its affairs and liquidating assets.
• To reinstate your business, you must first receive a tax clearance from Department of Revenue which can take 4-6 weeks to process.
• You may lose the rights to your business name and assumed names. These names are only protected for 120 days after being administratively dissolved or revoked.
• A business can only be reinstated if it has been administratively dissolved or revoked for less than 5 years.

Business Entity Report Reminders

• Maintaining Current Information with the Secretary of State is essential to receiving reminders!
• Email reminders are sent 90 and 30 days prior to the report due date to the business email and registered agent email.
• If a business has not responded to the email reminders, the office mails a paper reminder.
• Past Due Notices
  • If the report is not paid by the due date, a Past Due Notice will be sent to the business email and the registered agent email.
• Pending Administrative Dissolution of Revocation Notice
  • If there is no response to the Past Due Notice, a Pending Administrative Dissolution or Revocation notice will be mailed to the business.
• Administrative Dissolution or Revocation Notice
  • If there is no response to the Pending Administrative Dissolution or Revocation notice, an Administrative Dissolution or Revocation notice postcard will be mailed to the business.
• Paper notices are mailed to the principal office address, the registered agent address or a governing person’s address depending on what is on record.

Filing Fees

• For-Profit Businesses
  • $32.00 on INBiz
  • $50.00 by Paper
• Nonprofit Businesses
  • $22.00 on INBiz
  • $20.00 by Paper