Illinois LLC annual report form: LLC-50.1, BCA 14.05 and which one your entity files

Illinois LLCs file Form LLC-50.1, and Illinois corporations file the domestic or foreign version of Form BCA 14.05. Both are due before the first day of your entity's anniversary month, inside the 60 days that precede it.

• The two forms share a $75 filing fee, but they ask for different information.

• LLC-50.1 reports agent, address and managers.

• BCA 14.05 is also the corporate franchise tax return, so it asks for share counts and paid-in capital.

If your portfolio holds Illinois corporations and LLCs side by side, the form, the companion filings and the penalty math all change by entity type. An LLC that misses its window is delinquent and not in good standing from the due date. A corporation with an allocation factor or a change in shares or paid-in capital can't file online. The Illinois annual report guide covers the general filing steps.

Which Illinois annual report form your entity files

Your LLC files Form LLC-50.1, and your corporation files Form BCA 14.05 in its domestic or foreign version.

Foreign LLCs file the same form. A foreign LLC admitted to transact business in Illinois must file the annual report under Section 50-1, and LLC-50.1 asks for the "Date organized in or admitted to Illinois." Both domestic and foreign LLCs may file the annual report through the portal (LLC portal instructions). Not-for-profit corporations file a separate annual report under a separate act, listed with the not-for-profit forms.

Form LLC-50.1 for LLCs

LLC-50.1 asks for no financial figures, and most LLCs can file it online (Illinois LLC guide).

What LLC-50.1 asks for

Item 1 takes the LLC name, registered agent and Illinois registered office. Item 2 asks for the state or country of organization and the date the LLC was organized in or admitted to Illinois. Item 3 is the principal place of business, and the form warns "(P.O. Box alone is unacceptable.)" Item 4 lists the names and business addresses of managers and any member with the authority of manager, and more than eight managers rules out online filing. Managers that are not natural persons affirm their current existence in item 5, and item 7 is a signed affirmation under penalties of perjury.

Item 6 warns that agent or office changes go on Form LLC-1.36/1.37. The fee block shows "Filing Fee: $75" and "Series Fee, if required:" with no amount. The LLC fee statute sets the series fee at $50 for each series with a certificate of designation in effect on the last day of the third month preceding the anniversary month.

How to file LLC-50.1

Online, you enter the LLC file number in the portal and pay by Visa, Mastercard, Discover or American Express. A payment processor fee applies to every transaction. On paper, you mail the form to the Limited Liability Division, 501 S. Second St., Rm. 351, Springfield, IL 62756, with a check payable to Secretary of State. Under the LLC online instructions, you can't file online if the LLC:

• has been administratively dissolved or revoked, or has withdrawn, terminated or expired

• has more than eight managers, or managers not qualified to transact business in Illinois

• is changing its name, duration, purpose, registered agent name or registered office address

• must sign by layered signatures or power of attorney

Form BCA 14.05 for corporations

BCA 14.05 is an annual report and a franchise tax return in one document, so it asks for ownership and capital figures that an LLC never reports.

What BCA 14.05 asks for

Items 1 through 3 cover the name, registered agent and office, principal address, and either the date incorporated (domestic) or the state of incorporation and date qualified in Illinois (foreign). Item 4 must list all officers and directors, each a natural person 18 or older, including the officer who signs item 8. Item 6 reports shares authorized and issued by class and series. Item 7a reports paid-in capital, the base for the franchise tax. The form defines paid-in capital as the sum of the Stated Capital and Paid-in surplus accounts. You state both items as of the last day of the third month preceding the anniversary month, so a corporation with an April anniversary month reports as of January 31.

How the franchise tax works on the form

Illinois collects the corporate franchise tax in item 11 of BCA 14.05 itself. If your corporation has property or business outside Illinois, you compute the allocation factor in item 9. You then multiply paid-in capital by the allocation factor and by .001, less the $10,000 exemption for filing periods from 1/1/2025. The Illinois franchise tax guide covers the tax in more depth. Deadlines can change, so confirm the current Illinois instructions each year.

How to file BCA 14.05

You can file online at ilsos.gov/CORPrenew (annual reports page), but some corporations must file on paper. You can't file online if you need to list more than six officers or six directors, own property or transact business outside Illinois, or have changes in authorized shares, issued shares or paid-in capital (corporation online instructions).

Online filing adds a $50 expedited fee because the report is processed immediately (online filing instructions). Paper reports go to the Department of Business Services, 501 S. Second St., Rm. 350, Springfield, IL 62756, with a check or money order that carries the corporate file number.

Other forms filed with the Illinois annual report

Up to four other forms can go with your corporation's BCA 14.05, and a change that calls for BCA 14.30 also sends the report to paper:

• BCA 14.30, the Cumulative Report of Changes in Issued Shares and Paid in Capital (Form BCA 14.30): if your issued shares or paid-in capital have changed, the Secretary of State's annual report instructions require you to file the annual report on paper, with the documents reflecting those changes. The current BCA 14.05 form still asks for BCA 14.30 when those figures change, although the statute, 805 ILCS 5/14.30, refers to changes effected prior to January 1, 2024.

• BCA 5.10/5.20, Statement of Change of Registered Agent and/or Registered Office (agent change form): if you're changing your corporation's registered agent or office, you file this $25 statement, because the annual report directs those changes to this form.

• BCA 14.01, Statement of Election to Establish an Extended Filing Month: if your corporation reported less than 100% of its paid-in capital in Illinois, you can make this $25, irrevocable, one-time election under Section 14.01.

• BCA 8.12, the Female And Minority Directors Report (Form BCA 8.12): if your domestic or foreign corporation is publicly held, listed on a major U.S. exchange and has its principal executive office in Illinois, you provide this board-diversity information in the annual report you submit to the Secretary of State.

Agent or office changes for your LLC go on Form LLC-1.36/1.37 instead (LLC-50.1 item 6). For the agent and office rules behind BCA 5.10, see Illinois registered agent requirements.

Due dates and late penalties by entity type

Every LLC and corporation report is due in the 60 days that precede the first day of the anniversary month, or of the extended filing month if your corporation has elected one. Your LLC pays a fixed-dollar late penalty and, from the due date, is delinquent and not in good standing (Section 50-15). Your corporation pays a percentage of its franchise tax plus interest on late tax.

The form computes no corporate penalty or interest when no franchise tax is due. Under both the LLC Act and the Business Corporation Act, proof that you mailed the report and fees before the first day of the anniversary month counts as compliance (805 ILCS 180/50-1(b); 805 ILCS 5/14.10).

A report left unfiled can also end in dissolution or revocation, on a separate clock for each entity type.

• If your domestic LLC does not cure a filing default within 120 days following the notice of delinquency, the LLC Act dissolves it.

• Your foreign LLC's admission may be revoked under Section 45-35.

• Your domestic corporation is dissolved if it does not correct the default within 90 days after the Notice of Delinquency (Section 12.40).

• If your foreign corporation fails to file, the result is revocation, which includes losing the right to maintain lawsuits in Illinois (foreign corporation guide).

If your LLC has already been dissolved, see reinstating an Illinois LLC.

Keep every Illinois annual report on schedule with Discern

LLC-50.1 and BCA 14.05 share a calendar, but your corporations also compute franchise tax on the report, and some must file on paper or send a companion form with it. Discern files Illinois annual reports for your LLCs and corporations through automated filing, files the Illinois franchise tax for your corporations on BCA 14.05, and completes most annual report filings in less than 15 minutes. Discern's subscription is $350 per state registration, per year, with registered agent and annual report filing bundled, and change of agent filings are free (current Discern pricing).

For teams running Illinois entities across a portfolio, Discern adds active standing and status monitoring and franchise tax alerting. When Ironclad switched, Discern moved 106 registrations under management, restored 9 out-of-standing entities within 8 weeks and processed an Illinois annual report in 6 days instead of months.

Book a demo with Discern to see how it handles your Illinois annual reports.

Frequently asked questions

Illinois LLCs and corporations can file the annual report online unless an exclusion sends them to paper.

Where do I download Form BCA 14.05?

Download it from the Secretary of State publications page; the Secretary of State prescribes and furnishes annual report forms for domestic and foreign corporations. The forms are PDFs with fillable fields, so download each PDF to your computer before you fill it in.

Can I file the Illinois annual report online?

Yes, with exceptions. Your LLC files through the LLC portal unless it is excluded, for example for having more than eight managers. Your corporation files at ilsos.gov/CORPrenew, but if it uses an allocation factor, owns property outside Illinois, or reports share or paid-in capital changes, it files on paper.

What is BCA 14.30?

BCA 14.30 is the form that reports cumulative changes in your corporation's issued shares and paid-in capital, and its filing fee is $5. The current BCA 14.05 instructions say to mail it in the same envelope as the annual report when those figures changed, although the statute refers to changes made before January 1, 2024.

What happens if I file late?

Your LLC owes a $100 penalty once the report is more than 60 days late, plus $100 for each year starting with the second year of delinquency. From the due date, your LLC is also delinquent and not in good standing. Your corporation owes 10% of the franchise tax for a late report, plus 2% interest a month on late tax (minimum $1). Prolonged delinquency can lead to dissolution or revocation, so confirm your timeline with ilsos.gov or counsel.

Does a foreign LLC file the same form as a domestic LLC?

Yes. Section 50-1 applies the annual report requirement to foreign LLCs admitted to transact business in Illinois, and the Secretary of State's online-filing page says domestic and foreign LLCs file the same standard annual report.