Other Cheat Sheets

LLC Compliance Cheat Sheet


Formation/1st Year
  1. The LLC is registered.
  2. The LLC has a registered agent.
  3. The LLC has an operating agreement.
  4. The LLC has a cap table.
  5. The LLC filed its initial Beneficial Ownership Report.
Annual Compliance
  1. The LLC filed its periodic report.
  2. The LLC filed its tax returns.
  3. The LLC's operating agreement is up to date.
  4. The LLC's cap table is current.
  5. The LLC has updated its Beneficial Ownership Report if necessary.
  6. The LLC has renewed its registered agent service (if appliable).
Other Considerations
  1. The LLC has registered in other states where it has a business presence.
  2. The LLC has registered any DBAs or assumed names it uses.
  3. If necessary, the LLC has been dissolved.

What It All Means!

  • Registration means filing a Certificate of Organization (or like document) with the state where you're organizing the LLC.
  • Registered Agent is the person or entity who accepts lawsuits served on the LLC.
  • The Operating Agreement is a contract between the members and LLC setting out owner rights and company procedures.
  • The Beneficial Ownership Report is filed with the U.S. Department of Treasury and shows who owns 25% or more of the LLC and makes key decisions.
  • The Periodic Report is filed with the state of registration, usually annually, confirming the LLC is still active.
  • The Cap Table shows who owns the LLC (i.e., the members).
  • You must register the LLC in any state where it has a Business Presence, i.e. employees or property.
  • If the business stops operating, you Dissolve the LLC.
This isn't legal advice. It's just basic information. We're not lawyers (and have the sense of humor to prove it).