What is the penalty for failing to file an annual business report?

The penalty for failing to file an annual business report varies in Indiana. For profit corporations and LLCs face a late fee of $30 if the report is not filed by the due date, plus an additional $50 reinstatement fee if not filed within 60 days after the due date. Nonprofit corporations may incur a late fee of $5 plus an additional $2 reinstatement fee if not filed within 60 days. Should a business fail to file after receiving notice, the Secretary of State may administratively dissolve the entity or revoke its certificate of authority to conduct business in the state. It is crucial to timely file annual reports to avoid penalties, maintain active status, and ensure the continued legal existence of the business in Indiana.