Renewal fees for aged corporations, LLCs, and other company types.
Each year a corporation, LLC or similar company type will incur an annual renewal fee. Most US company annual fees are due by the last day of the month in which the company was originally filed. For example, let’s say a company was filed in Nevada on March 15. The annual renewal fee us due by March 31 of each year. If the renewal fee is not paid by the due date the government assesses a penalty. Different states and countries vary as to the renewal schedule and amount due.
For example, in the country of Belize, regardless the date of incorporation, the annual maintenance fee is due on April 30th of the next year. In Anguilla, the renewal fees are due based on a quarterly schedule.
The following is an example of the renewal schedule for Anguilla:
Anguilla Company renewal fees are due on a schedule based on their incorporation dates. Under the IBC Act, the annual renewal fee is payable not later than the last day of the calendar quarter in which the IBC was originally filed. Thus, if a company had been incorporated on the 1st of September, the company is required to pay its annual renewal fees no later than the 30th of September of the following year.
The last day of each quarter is: March 31st, June 30th; September 30th; and December 31st.
The license fees are set as follows:
$750 – if the authorized capital does not exceed $50,000.00 and all the company’s shares have par value;
The government adds a surcharge in any of the following cases, if:
– Authorized capital is less than $50,000, but some or all shares have no par value;
– The company has no authorized capital and all shares are of no par value
– Its authorized capital exceeds $50,000.00;
Registered Agent Fees
Registered agents in Anguilla have their own set fees for acting a the registered agent of the company and providing a registered office.
Depending on the services provided (directors / officers / shareholders), the fees may differ.
Mail Forwarding Fees
It is also possible to request additional services, such as mail forwarding, which will incur further monthly or annual fees.
An IBC that fails to pay the annual fee by the due date will incur a 10% penalty on the government fees. So, where the government fees are $200.00, this will be $20.00.
If a further 3 months passes, e.g. the payment was due on the 30th of June, on the 1st of July the 10% penalty was incurred, but on the 30th of September the government fees and penalty have still not been paid, then the penalty fees will increase to 50%. The company has 3 months in which to make this payment, before being stricken off.
So, to continue the example, if the company anniversary is May, the annual renewal fees are due by the 30th of June. On the 1st of July a penalty of 10% is incurred. This applies until the 30th of September. On the 1st of October, if the government fees and penalty have still not been paid, the penalty will increase to 50%. This penalty applies until the 31st of December.
Companies which have not paid their government fees and the penalties which are described above, will be stricken off the register by the government.
The relevant dates are as follows:
Quarter Months Last Day 10% Penalty Incurred 50% Penalty Incurred Stricken off
1st Jan – Mar March 30th April 1st July 1st October 1st
2nd Apr – Jun June 30th July 1st October 1st January 1st
3rd July – Sep Sept 30th October 1st January 1st April 1st
4th Oct – Dec Dec 31st January 1st April 1st July 1st
If the company is restored within 6 months of the date on which is is struck off, the government restoration fee is $300.00.
If the company is restored more than 6 months after the date on which is was struck off, a $600.00 restoration fee is payable.
For Anguilla the government plus agent fees should be expected to be around $750 annually.
In summary, the vast majority of companies have annually renewable government and agent fees. It is the responsibility of the owners, members, officers, directors, managers and general partners to know the renewal requirements in order to keep the company in good standing.