What is an Iowa LLC?
An Iowa LLC is formed by filing Articles of Organization with the Secretary of State and paying the appropriate filing fee. An Iowa LLC is governed by its Operating Agreement, which is written and agreed upon by its members, and which lays out the management structure of the company. Each member offers a capital contribution in return for an ownership percentage.
Learn more below about the structure of an Iowa LLC and how one is formed.
Iowa LLC Requirements
- Articles of Organization (There is not a state issued standard.)
- State Filing Fee of $50.
- A Registered Agent located in Iowa. See our service here.
- Beneficial Ownership Information Report filing. Your report must be submitted after company formation starting January 1, 2024.
Iowa LLC Structure
IA Limited Liability Companies are structured legally with the Iowa Articles of Organization for a Limited Liability Company. Like many states, the document for an LLC is short and simple.
- Registered Agent
Provide a name for the LLC. This nsme must comply with section 489.108.
The street address will be given to the authorities of your LLC in Iowa for the LLC.
A Registered Agent is a requirement to file a new LLC in Iowa.
How to File a Iowa LLC
Steps in forming an Iowa LLC:
1. Name Your Iowa LLC
The first step is selecting a name for your LLC. The name of your company must adhere to the Revised Uniform LLC Act § 489.108. You will need to choose a name that is not already in use in Iowa.
2. File Certificate of Organization
To form an LLC in Iowa you must file a Certificate of Organization with the Secretary of State. This form can be filed online or by mail. There is a $50 filing fee.
3. Designate a Registered Agent
A registered agent in Iowa must be appointed to accept service of process for your LLC. You designate a registered agent on the Certificate of Organization.
4. Write Operating Agreement
Once you form an LLC, you will need to write an Operating Agreement. This is the primary document of your company. It establishes the initial members, their rights, duties and responsibilities. It also dictates how your LLC will be managed.
5. Open Business Accounts
You can now open business bank accounts for your company. These accounts will be used to process company payments, both incoming and outgoing. Most banks will need to see copies of your Certificate of Organization, Operating Agreement, and an initial resolution approving the opening of the accounts.
6. File Biennial Report
After you form an LLC, you will be required to file a Biennial Report with the Secretary of State. You must file the first report between January 1 and April 1 of the first odd-numbered year following the year of formation. The filing fee is $45 ($30 if filed online).
7. Submit Beneficial Ownership Information Report
You must a file a BOI report with the Financial Crimes Enforcement Network after formation, starting January 1, 2024. The BOI report is free to file and must be submitted online.
|Iowa LLC Facts
|Certificate of Formation
|Iowa Secretary of State
|$195 (includes registered agent service)
|One to Three Business Days
|Biennial Report Due
|April 1 of Odd-Numbered Years
|Biennial Report Fee
|$45 ($30 if filed online)
Advantages of an Iowa LLC
- A Private State: Iowa does not require an LLC to list its members or managers when submitting a Certificate of Organization. In fact, while you can submit a paper filing to the Secretary of State, the SOS will not supply you with a formal document to file. You can, however, create your own as a Word document and send it by mail. Otherwise, you can (and should) file online. Members and managers are not required to be listed on Biennial Reports either, so an Iowa LLC is one of the few entities in the nation that can be fully private, keeping you personal information out of the public record.
- Less Annual Reporting: An Iowa LLC does not have to file any annual report. Instead, Iowa LLCs file biennially. The processing fee for the Biennial Report is only $30 if filed online. That averages out to a mere $15 a year, far cheaper than almost every other state’s fee for reporting.
- Top Ranked Business Climate: Iowa LLCs exist in one of the most business-friendly climates in the nation. Iowa regularly ranks among the lowest cost for doing business, mostly because the state has gone to great lengths to keep taxes down in various ways. For example, there is no sales or use taxes on industrial machinery, equipment and computers for manufacturing in Iowa. Iowa also ranks high for the amount of investment capital spent each year in the state. You Iowa LLC will be well-situated for success.
How Do I Form an Iowa LLC Online?
To form an LLC in Iowa online, you will need to visit the Secretary of State web portal. You can fill in your information, indicate what filing you are doing (Certificate of Organization) and then upload the document. You will need to prepare the Certificate of Organization in advance in order to upload it to the Secretary of State system.
Iowa Registered Agent Service
An Iowa registered agent must:
- Have and maintain a registered office (physical street address, not a PO box) in the state
- Stay open during regular business hours
- Receive and accept service of process and important business mail on behalf of clients
- Contact clients when documents are accepted
- Forward documents to clients in a timely manner
The primary purpose of a registered agent is to provide a reliable contact in the event that a lawsuit is brought against a business.
How Do I Change Information on My Certificate of Organization?
If you have filed a Certificate of Organization and there is information on the document that is inaccurate, you can change the information by filing a Statement of Correction. There is a $5 filing fee.
If the information was correct, but has now changed (such as in the event you change your registered agent), you must file an Amendment or Restatement of Certificate of Organization. For an amendment, there is a $50 filing fee.
Iowa LLC Biennial Report
After your form an LLC in Iowa, you will need to file a Biennial Report every two years. The first report must be filed between January 1 and April 1 of the first odd-numbered year after your year of formation. For example, if you formed your LLC in 2014, you will file your first Biennial Report in 2015.
Iowa LLCs file only in odd-numbered years. There is a $45 filing fee ($30 online).
Federal Beneficial Ownership Information Report Filing
As a newly-formed LLC, you’ll probably need to submit a Beneficial Ownership Information (BOI) Report to the Financial Crimes Enforcement Network (FinCEN). The BOI report provides the federal government with basic information about your LLC and the people with the most power over your business decisions and profits. Starting January 1, 2024, this report is due following company formation. This report is a little complicated, but we can make filing painless with our $9 BOI report filing service.
Why Hire Corporate Filing Solutions to Form Your Iowa LLC?
Starting your LLC in Iowa shouldn’t be a hassle or a time consumer. That’s why we offer Filings Made Easy™ to make starting an LLC in Iowa super easy.
Hire us and relax while our filing experts form your new Iowa LLC. Our staff will process orders the same business day as they are received. To make things even easier, we bundle the first year of Registered Agent service and ensure your Iowa LLC comes fully equipped and ready to do its job.
Start your LLC in Iowa and get Registered Agent service for as low as $55 a year.