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Q: I recently formed an LLC. Are there ongoing requirements that I should be aware of?
A: Yes! LLCs have ongoing reporting obligations to the state, as well as requirements to maintain certain records. It is important to stay up to date with these requirements to avoid penalties or potential issues down the road.
Annual Reports
Most states require an annual report filing with the secretary of state to maintain good standing. In New Hampshire, annual reports are due between January 1 and April 1 of each year. If the LLC fails to comply with annual report filing requirements for 2 consecutive years, it could be administratively dissolved, meaning that the LLC loses its authority to operate for any purpose other than winding up its business affairs. Generally, the LLC can be reinstated by filing the past due reports and paying any applicable fees or penalties. In some cases, administrative dissolution can result in more serious problems including personal liability of the owners for debts incurred while the LLC was dissolved.
Register in Other States
If your LLC is doing business in another state (i.e., a state other than where it was formed), it may need to register with that state. First, you will need to determine if your LLC's business activity in the other state requires it to be registered as a foreign LLC. The foreign registration process varies from state to state but typically involves submitting a form with the respective secretary of state's office and paying a fee. The LLC will also need to comply with annual reporting requirements in every state where it is registered to do business. Your attorney can help you determine whether your business needs to register in a particular state and provide guidance on the process.
Maintain Books and Records
In addition to required filings with the secretary of state, an LLC should maintain internal books and records. Many states have laws requiring LLCs to maintain certain records at the company's principal office. In New Hampshire, LLCs should maintain copies of tax returns, a current list of members' and managers' names and addresses, a copy of the certificate of formation, and a copy of any written operating agreement, among other records. LLC members have a right to obtain this information from the company upon reasonable demand.
Even if not required by law, it is good practice to establish a system for maintaining your LLC's records. Failure to do so can lead to problems down the road as your business grows or you contemplate an exit.
Published: Union Leader
January 17, 2026
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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