Why is it Crucial to File Annual Reports As a Holder of a Florida Contractors License?

Those with a general contractor’s license in Florida should file an Annual Report, which confirms and/or updates the records held by the Department of State of Florida, every year. You should do this in order for you to keep your “active status” as a general contractor license holder. Note that you are mandated to file this report, whether or not you have any information to update.

What are the Repercussions If You Don’t File an Annual Report?

If you have a contractor’s license in Florida and you still decide not to file your annual report on or before the 3rd Friday of September, your business will be dissolved administratively. Alternatively, your business can be revoked from the Department of State’s records. This becomes effective on the 4th Friday of September.

While administratively revoked or dissolved businesses can be reinstated, the additional requirements can be a hassle. You need to submit a reinstatement application and you are required to pay all of the associated fees, such as the annual reports fees due and the reinstatement fee during submission time.

What if My Business Has Closed Shop? Do I Still Need to File an Annual Report?

Fortunately, you are not required to file an annual report if your business as a holder of a contractor’s license in Florida has closed.

What Happens After I Submit My Annual Report?

If you filed online using a credit card, reports are processed and these are posted online immediately.

If you paid via money order or check as a holder of a general contractor license in Florida, wait around three to five days if you submitted during non-peak times. Expect the processing to take a bit longer at peak times.

What Are the Changes That I Can Make in an Annual Report?

You can add, update, or delete names and addresses of your officers, managers, directors, and authorized members in your annual report. For general partners, you can only make changes to their addresses only. You can also change your registered office address and registered agent as a general contractor license holder. Moreover, you can change the address of your principal office, as well as your mailing address, being a holder of a general contractor license in Florida. Lastly, you may add or update your federal employer identification number.

However, you cannot change your business name in the annual report. If you want to change your name as a holder of a general contractor license in Florida, you should download and fill out the needed amendment form. Once done, mail this finished form, including payment, to the Department of State, being a FL contractor license holder.

Can I Still Change My Annual Report After I Submit It?

If you are a corporation or a limited liability company (LLC), you can file for an annual report that has been amended. If your corporation is for profit or not for profit, you need to pay $61.25. If you have an LLC, you only need to shell out $50.00.

If your business is a limited liability partnership or a limited partnership, first, download the amendment form and fill it out. Mail this form, as well as the fee, to the Department of State.

Will I Receive a Copy of the Filed Annual Report?

You can receive a copy of the annual report that has been filed with the Department of State—that is, once it has been processed. Online, you can download a picture of this report for free.

As a Holder of a General Contractors License in Florida, You Know the Difficulties of Filing an Annual Report

No matter what the nature of your business may be, you know there is already a lot on your plate and filing an annual report can become an additional burden. Failure to do so may have administrative and financial consequences. We at Contractors Reporting Services, process, file, and submit Florida general contractor license requirements, particularly annual reports. Connect with us now to get help from highly seasoned professionals that will support you from start to finish.