Good standing
A company is in good standing when it is up to date with its obligations to the state. Banks and partners often ask for this status. Losing it can eventually lead to administrative dissolution.
State requirements
Depending on the state: an annual report, an annual franchise tax or no requirement at all, as in New Mexico. In every case, the registered agent must be maintained without interruption.
Federal requirements
For a single-member LLC owned by a foreigner: Form 5472 and a pro forma 1120, usually due April 15. For a multi-member LLC: Form 1065, usually due March 15.
Our advice
Put every date in a calendar as soon as the company is formed, and leave time to gather your accounting information. The Complete plan includes tracking of these deadlines.
This article is for information only and is not legal or tax advice. The rules mentioned may have changed since the update date.
