If you operate a professional association or limited liability partnership you should have recently received a letter from the Ohio Secretary of State that your entity’s Biennial Report will be due in July. The window for filing the Biennial Reports is July 1st-July 31st and there is a filing fee of $25.00 due upon filing, which is now done online through OhioBusinessCentral.gov. This report is required to keep your entity active with the Ohio Secretary of State’s office.
If you fail to timely file the Biennial Report you will receive a delinquency notice giving you an additional 30 days to file. If that extension is allowed to expire without filing then the entity will be placed in a “Held” status, which prevents any other filings to be made through the Ohio Secretary of State until the entity is reactivated. While this is a fairly simple issue to fix, it can prove problematic if the entity is in a Held status while attempting to conduct certain business dealings with already tight deadlines (such as selling or dissolving the business), as the entity will first need to be reinstated, including filing all delinquent Biennial Reports, before it can be returned to “Active” status.
If you have any questions, or would like assistance with filing your Biennial Report, please feel free to contact Thomas Law Group.
