Illinois Form BCA 14.05 is the Domestic Corporation Annual Report that every for-profit corporation incorporated in Illinois must file each year with the Illinois Secretary of State to stay in good standing, pay its annual franchise tax, and report current officers, directors, paid-in capital, and Illinois property and business activity. The form is required by Section 14.05 of the Business Corporation Act of 1983, and missing it can lead to penalties, interest, and even involuntary dissolution of the corporation.
According to the Illinois Secretary of State’s Business Services Department, more than 300,000 domestic corporations file BCA 14.05 each year, and the office reports that roughly 1 in 7 paper filings is rejected the first time for math errors on the franchise tax lines or missing officer information. This guide walks you through every line, with named examples, so your filing clears on the first try.
Here is what you will learn in this guide:
- 📄 What BCA 14.05 is, who must file it, and the statutes that drive it
- 🗂️ The exact documents and numbers to gather before opening the form
- ✍️ How to fill out every box, line, and item — with sample entries
- 👥 Three full walkthroughs using real-world fact patterns
- ⚠️ The most common mistakes, penalties, and how to avoid involuntary dissolution
What the Form Is and Who Must File It
Illinois Form BCA 14.05 (Domestic Corporation Annual Report) is the yearly compliance filing required of every for-profit corporation that was formed under the laws of Illinois. The form’s job is twofold: it confirms the corporation’s current operating details, and it serves as the worksheet for calculating the Illinois franchise tax owed under 805 ILCS 5/15.35. The form is sometimes called the “annual report,” but legally it is a report and tax return combined.
You must file BCA 14.05 if your corporation is a domestic for-profit corporation chartered in Illinois. This includes C corporations, S corporations (the IRS election does not change Illinois filing duties), professional service corporations under the Professional Service Corporation Act, medical corporations, and close corporations. Foreign corporations transacting business in Illinois file the parallel Form BCA 14.05 (Foreign), which uses similar fields but a different allocation method.
You do not use BCA 14.05 if your entity is an LLC (use Form LLC-50.1), a not-for-profit corporation (use Form NFP 114.05), or a limited partnership. The form is filed once per year. Your filing window opens 45 days before the first day of your anniversary month (the month your corporation was originally incorporated) and the report is due by the last day of the month before the anniversary month, per 805 ILCS 5/14.05.
The receiving agency is the Illinois Secretary of State, Department of Business Services, housed in the Howlett Building in Springfield with a satellite office in Chicago. The franchise tax collected on the form funds general state operations, while the filing fee funds the Business Services Department itself. Consequences for not filing include a $100 penalty plus interest at 2% per month on unpaid franchise tax, and after six months of delinquency, the Secretary of State may begin involuntary dissolution proceedings under 805 ILCS 5/12.35.
Before You Start: Documents and Information You Need
Filers who gather everything in advance finish BCA 14.05 in about 15 minutes online. Filers who do not often spend hours hunting for old paperwork. Use the checklist below before you open the Cyberdrive Illinois business filing portal.
- Your corporate file number. This is the seven- or eight-digit number assigned by the Secretary of State at incorporation. Without it, the portal cannot pull your record, and your filing will not start.
- Your Federal Employer Identification Number (FEIN). The Secretary of State cross-checks this against IRS records, and a mismatch can flag your filing for manual review at the IRS EIN system.
- Registered agent name and Illinois street address. P.O. boxes are not allowed. A wrong address can cause you to miss service of process and lose a lawsuit by default.
- Principal office address. This can be inside or outside Illinois, and it is where corporate records are kept.
- Names and business addresses of every current director. Directors must be listed even if they hold no shares.
- Names, titles, and addresses of the president, secretary, and any other officers. The president and secretary lines are mandatory under 805 ILCS 5/8.50.
- Total authorized shares and total issued shares as of the report date. These numbers come from your stock ledger.
- Paid-in capital. This is the cumulative consideration received for issued shares, plus any contributions to capital, minus reductions properly recorded. Pull this from your most recent balance sheet.
- Value of all property of the corporation, both inside and outside Illinois. This drives the property factor of the allocation formula.
- Gross amount of business transacted by the corporation, both inside and outside Illinois. This drives the business factor of the allocation formula.
- A credit card, debit card, or e-check. The portal accepts Visa, MasterCard, Discover, and American Express, plus ACH e-check.
If any item is missing, the form will either reject at submission or produce a wrong franchise tax number that you will pay interest on later.
Where to Get the Form and How to Access It
You have three ways to get BCA 14.05. The first and fastest is the Illinois Secretary of State annual report e-file portal, which auto-populates most of the form using your file number. The second is to download the official BCA 14.05 PDF from the Secretary of State’s publications page and complete it by hand or in Adobe Acrobat. The third is to receive the pre-printed paper notice that the Secretary of State mails to your registered agent’s address roughly 60 days before the due date.
The pre-printed notice is the safest paper option because it already has your file number, name, and prior-year figures printed on it. If your registered agent address is outdated, you will not receive this notice, which is one reason filers miss the deadline. Update your registered agent right away using Form BCA 5.10/5.20 if your address has changed.
The current revision date printed on BCA 14.05 should be confirmed at the top right corner of the form before you start. Using an outdated revision can cause rejection because the franchise tax rates and form fields change. Always download a fresh copy each year from the Secretary of State publications page rather than reusing last year’s PDF.
Online filing is mandatory for many corporations whose franchise tax can be calculated without a paid-in capital change. If your corporation issued new shares, redeemed shares, or changed paid-in capital during the year, you must also file Form BCA 14.30 (Cumulative Report of Changes in Issued Shares and Paid-In Capital) before or with your annual report.
Step-by-Step: How to Fill Out BCA 14.05 Line by Line
The form is one page front and back, divided into numbered items. Complete every item in order. Each H3 below maps to a specific item on the form.
Item 1: Corporate Name
The form asks for the exact corporate name as it appears on the records of the Secretary of State.
To answer, type or print the name in all capital letters, with the corporate ending (CORPORATION, INCORPORATED, COMPANY, LIMITED, or the abbreviations CORP., INC., CO., LTD.) exactly as registered. Do not add a “d/b/a” or trade name here.
For example, Maria Lopez enters LOPEZ CONSULTING GROUP, INC. because that is the legal name on her Articles of Incorporation.
A common nuance is the corporation that has changed its name during the year. If the change has already been filed via Form BCA 10.30 (Articles of Amendment), use the new name. If not, use the old name and file the amendment first.
A common mistake is dropping the “INC.” or adding a comma where none exists in the official record. The direct consequence is rejection of the report because the Secretary of State’s database matches by exact string.
A common misconception is that the trade name or marketing name can be used. It cannot. Only the legal corporate name on file is acceptable.
Item 2: Corporate File Number
The form asks for your seven- or eight-digit file number assigned by the Secretary of State at the time of incorporation.
To answer, write the digits exactly, with leading zeros if any. Do not include dashes or letters.
For example, Marcus Bell’s tech corporation has file number 6743219, which he enters as 6743219.
A nuance is that older corporations sometimes have a six-digit file number. Use whatever the Secretary of State’s business entity search returns for your name.
A common mistake is confusing the file number with the FEIN. The consequence is the report is applied to the wrong corporation, or rejected outright.
A common misconception is that the file number changes if you amend articles. It does not — the file number stays the same for the life of the corporation.
Item 3: Registered Agent and Registered Office
The form asks for the name of the current registered agent and the Illinois street address of the registered office, including county.
To answer, enter the agent’s full name (or the registered agent company’s name) on one line, then the street address, city, ZIP, and county on the next lines. P.O. boxes are not allowed under 805 ILCS 5/5.05.
For example, Janet Park lists JANET PARK, 412 W. ELM ST., CHICAGO, IL 60610, COOK COUNTY.
A nuance: if you need to change the registered agent or office, you cannot do it on BCA 14.05 alone. You must file Form BCA 5.10/5.20 and pay the $25 change fee separately, then list the new agent here.
A common mistake is listing a P.O. box for the registered office. The consequence is rejection and possible loss of legal notices, leading to default judgments in lawsuits.
A common misconception is that the registered agent must be an attorney. The agent can be any Illinois resident over 18 with a physical Illinois address, or any business entity authorized to do business in Illinois.
Item 4: Principal Office Address
The form asks for the address of the principal office of the corporation, which can be anywhere in the world.
To answer, enter the street, city, state, ZIP, and country. This address is where corporate books and records are kept under 805 ILCS 5/7.75.
For example, Aisha Rahman’s import corporation lists 2200 N. CALVERT ST., BALTIMORE, MD 21218, USA because the corporation does business in Illinois but is headquartered in Maryland.
A nuance is that solo founders sometimes use their home address. That is permitted, but the address becomes a public record searchable on the business entity search.
A common mistake is leaving this blank when the principal office is the same as the registered office. The consequence is rejection — the field is mandatory even if duplicative.
A common misconception is that the principal office must be in Illinois. It does not.
Item 5: Names and Addresses of Officers and Directors
The form asks for the full name and business address of the President, Secretary, and every Director as of the date the report is signed.
To answer, list the President first, the Secretary second, and then each Director on a separate line. Use first name, middle initial, last name, and a complete street address. Apartment numbers and suite numbers must be included.
For example, Carlos Mendoza enters his president as CARLOS MENDOZA, 800 S. WELLS ST. SUITE 240, CHICAGO, IL 60607 and his secretary as ELENA MENDOZA, 800 S. WELLS ST. SUITE 240, CHICAGO, IL 60607.
A nuance is that one person may hold both the President and Secretary roles in Illinois under 805 ILCS 5/8.50. List the same person on both lines.
A common mistake is listing only officers and forgetting directors, or vice versa. The consequence is the report is rejected and you may lose the liability shield during the gap because the corporation is not in good standing.
A common misconception is that the IRS shareholder list satisfies this field. It does not — the Secretary of State wants officers and directors, not shareholders.
Item 6: Authorized Shares, Issued Shares, and Paid-In Capital
The form asks you to list, by class and series, the number of shares authorized, the number of shares issued, and the paid-in capital of the corporation as of the last day of the third month preceding the anniversary month.
To answer, enter each class on its own row. Common stock goes on the first row, preferred on the next. Paid-in capital is the cumulative consideration the corporation has received for those shares, less authorized reductions.
For example, Lopez Consulting Group, Inc. shows COMMON, 10,000 AUTHORIZED, 1,000 ISSUED, $50,000 PAID-IN CAPITAL.
A nuance is that paid-in capital is not the same as retained earnings or book value. It is only the amount paid for shares plus capital contributions. If shares were issued for services, the fair value of those services counts as paid-in capital under 805 ILCS 5/6.25.
A common mistake is reporting retained earnings as paid-in capital. The consequence is overstating franchise tax by hundreds or thousands of dollars, which the Secretary of State will not refund unless you file a corrected report.
A common misconception is that paid-in capital can drop to match book losses. It cannot — only a formal stated capital reduction filed on Form BCA 14.30 reduces paid-in capital.
Item 7: Estimated Value of All Property and Business
The form asks for the estimated value of all property of the corporation wherever located, and the gross amount of business transacted by the corporation wherever located, for the 12-month fiscal period ending on the last day of the third month preceding the anniversary month.
To answer, pull these figures from your year-end financial statements. Property includes cash, receivables, inventory, equipment, and real estate at book value. Business transacted is gross revenue, not net income.
For example, Marcus Bell’s tech corporation reports PROPERTY EVERYWHERE: $480,000 and BUSINESS EVERYWHERE: $1,200,000.
A nuance is that the “third month preceding” rule means a corporation with a March anniversary uses figures as of December 31 of the prior year. Plan accordingly with your accountant.
A common mistake is using net income instead of gross revenue for business transacted. The consequence is understating franchise tax, which triggers an audit notice and 2% monthly interest under 805 ILCS 5/16.05.
A common misconception is that intangible property is excluded. Goodwill, patents, and trademarks at book value are all included.
Item 8: Estimated Value of Property and Business in Illinois
The form asks for the same two figures as Item 7 but only for Illinois.
To answer, allocate property to Illinois based on physical location, and allocate business based on where the customer received the benefit of the service or where goods were shipped to.
For example, Aisha Rahman operates in Maryland and Illinois. She lists PROPERTY IN ILLINOIS: $60,000 and BUSINESS IN ILLINOIS: $200,000 for her Illinois warehouse and Illinois customer sales.
A nuance is that a corporation doing 100% of business in Illinois enters the same figures in Item 7 and Item 8. This is common for single-location small corporations.
A common mistake is leaving Item 8 blank when the corporation operates only in Illinois. The consequence is the allocation factor defaults to zero, which actually maximizes franchise tax — the opposite of what filers expect.
A common misconception is that “business in Illinois” means where you have employees. It is broader: it includes any sales delivered into Illinois.
Item 9: Allocation Factor
The form asks you to compute the allocation factor by adding Item 8 (Illinois property + Illinois business) and dividing by Item 7 (everywhere property + everywhere business).
To answer, perform the math: ( \text{Allocation Factor} = \frac{\text{IL Property} + \text{IL Business}}{\text{Everywhere Property} + \text{Everywhere Business}} ). Carry the result to six decimal places.
For example, Aisha Rahman computes ( (60{,}000 + 200{,}000) / (480{,}000 + 1{,}200{,}000) = 0.154762 ).
A nuance is that the factor is capped at 1.000000 for corporations doing all business in Illinois. Never enter a number higher than 1.
A common mistake is rounding to two decimal places. The consequence is a franchise tax error of several dollars, which the Secretary of State’s system flags and rejects.
A common misconception is that an allocation factor below 0.5 always means lower franchise tax. The minimum franchise tax is $25 regardless of the allocation factor under 805 ILCS 5/15.35.
Item 10: Franchise Tax Computation
The form asks you to compute the annual franchise tax by multiplying the allocation factor by paid-in capital, then multiplying by the statutory rate.
To answer, use the formula ( \text{Franchise Tax} = \text{Paid-In Capital} \times \text{Allocation Factor} \times 0.001 ), with a $25 minimum. The 2026 rate confirmed on the Secretary of State franchise tax page is $1.00 per $1,000 of allocated paid-in capital.
For example, Lopez Consulting Group with $50,000 paid-in capital and a 1.000000 allocation factor computes $50,000 × 1.000000 × 0.001 = $50.00.
A nuance is the interim annual franchise tax that applies if you increased paid-in capital mid-year. That portion is calculated on Form BCA 14.30 and added here.
A common mistake is forgetting the $25 minimum. The consequence is rejection because the system requires at least the floor.
A common misconception is that S corporations pay no franchise tax. The S election is a federal income tax classification only — Illinois franchise tax still applies.
Item 11: Filing Fee
The form asks for the $75 statutory filing fee under 805 ILCS 5/15.10.
To answer, simply enter $75.00. There is no calculation. This fee is in addition to the franchise tax in Item 10.
For example, every filer enters $75.00 here regardless of size.
A nuance is that the fee is non-refundable even if the report is rejected and refiled. Get it right the first time.
A common mistake is omitting the filing fee from the total payment. The consequence is the entire filing bounces back as underpaid.
A common misconception is that the filing fee scales with paid-in capital. It does not — the $75 is flat.
Item 12: Total Due
The form asks for the sum of franchise tax, filing fee, and any penalty/interest for late filings.
To answer, add Item 10 + Item 11 + any late penalties. Late penalties are $100 plus 10% of the franchise tax plus 2% per month interest.
For example, Lopez Consulting Group filing on time enters $50 + $75 = $125.
A nuance is that the online portal calculates this automatically. On paper, you must do the math yourself.
A common mistake is paying only the franchise tax and forgetting the filing fee. The consequence is a delinquency notice within 30 days.
A common misconception is that paying late but in full avoids penalties. It does not — penalties accrue from the day after the due date.
Item 13: Signature and Verification
The form asks for the signature of an officer, the printed name and title, and the date.
To answer, the President, Secretary, Treasurer, or another duly authorized officer signs. Online filings use an electronic signature checkbox. Paper filings need an ink signature.
For example, CARLOS MENDOZA, PRESIDENT signs and dates 03/15/2026.
A nuance is that signing falsely is a Class A misdemeanor under 805 ILCS 5/16.10. Officers should verify every figure before signing.
A common mistake is having the registered agent sign. The agent cannot sign unless they also hold an officer position.
A common misconception is that a notary is required. It is not — the verification is sworn under penalty of perjury without a notary.
Three Filled-Out Examples Using Real Scenarios
Below are three named filers using BCA 14.05 in 2026. Each table shows what they enter on the form’s major sections.
Scenario 1: Maria Lopez, Single-Shareholder Consulting S-Corp
Maria runs Lopez Consulting Group, Inc., a one-person Illinois S-corp doing 100% of business in Illinois with no changes during the year.
| Form Section | What Maria Enters |
|---|---|
| Item 1 — Corporate Name | LOPEZ CONSULTING GROUP, INC. |
| Item 2 — File Number | 7821005 |
| Item 3 — Registered Agent and Office | MARIA LOPEZ, 333 W. WACKER DR., CHICAGO, IL 60606, COOK COUNTY |
| Item 4 — Principal Office | 333 W. WACKER DR., CHICAGO, IL 60606 |
| Item 5 — Officers and Directors | MARIA LOPEZ, PRESIDENT/SECRETARY/SOLE DIRECTOR |
| Item 6 — Shares and Paid-In Capital | COMMON: 10,000 authorized / 1,000 issued / $50,000 paid-in capital |
| Item 7 — Property and Business Everywhere | Property: $30,000 / Business: $180,000 |
| Item 8 — Property and Business in Illinois | Property: $30,000 / Business: $180,000 |
| Item 9 — Allocation Factor | 1.000000 |
| Item 10 — Franchise Tax | $50.00 (minimum applies, but $50 > $25, so $50) |
| Item 11 — Filing Fee | $75.00 |
| Item 12 — Total Due | $125.00 |
| Item 13 — Signature | MARIA LOPEZ, PRESIDENT, 04/02/2026 |
Scenario 2: Marcus Bell, Multi-Shareholder Tech Corp Issuing New Shares
Marcus runs BellStack Technologies, Inc., an Illinois C-corp that issued $200,000 in new common stock during the year. He files BCA 14.05 alongside BCA 14.30.
| Form Section | What Marcus Enters |
|---|---|
| Item 1 — Corporate Name | BELLSTACK TECHNOLOGIES, INC. |
| Item 2 — File Number | 6743219 |
| Item 3 — Registered Agent and Office | MARCUS BELL, 600 W. CHICAGO AVE. SUITE 700, CHICAGO, IL 60654, COOK COUNTY |
| Item 4 — Principal Office | 600 W. CHICAGO AVE. SUITE 700, CHICAGO, IL 60654 |
| Item 5 — Officers and Directors | MARCUS BELL, PRESIDENT; LISA TRAN, SECRETARY; PRIYA SHAH, DIRECTOR |
| Item 6 — Shares and Paid-In Capital | COMMON: 1,000,000 authorized / 250,000 issued / $700,000 paid-in capital |
| Item 7 — Property and Business Everywhere | Property: $480,000 / Business: $1,200,000 |
| Item 8 — Property and Business in Illinois | Property: $432,000 / Business: $960,000 |
| Item 9 — Allocation Factor | 0.828571 |
| Item 10 — Franchise Tax | $700,000 × 0.828571 × 0.001 = $580.00 |
| Item 11 — Filing Fee | $75.00 |
| Item 12 — Total Due | $655.00 (plus interim franchise tax from BCA 14.30) |
| Item 13 — Signature | MARCUS BELL, PRESIDENT, 06/14/2026 |
Scenario 3: Aisha Rahman, Multi-State Corp Changing Registered Agent
Aisha runs Rahman Imports, Inc., an Illinois corporation headquartered in Maryland. She files BCA 5.10 first to change her registered agent, then files BCA 14.05.
| Form Section | What Aisha Enters |
|---|---|
| Item 1 — Corporate Name | RAHMAN IMPORTS, INC. |
| Item 2 — File Number | 5512908 |
| Item 3 — Registered Agent and Office | ILLINOIS CORPORATE AGENTS LLC, 100 W. RANDOLPH ST., CHICAGO, IL 60601, COOK COUNTY |
| Item 4 — Principal Office | 2200 N. CALVERT ST., BALTIMORE, MD 21218 |
| Item 5 — Officers and Directors | AISHA RAHMAN, PRESIDENT; OMAR RAHMAN, SECRETARY; THREE DIRECTORS LISTED |
| Item 6 — Shares and Paid-In Capital | COMMON: 50,000 authorized / 5,000 issued / $250,000 paid-in capital |
| Item 7 — Property and Business Everywhere | Property: $1,000,000 / Business: $3,500,000 |
| Item 8 — Property and Business in Illinois | Property: $200,000 / Business: $700,000 |
| Item 9 — Allocation Factor | 0.200000 |
| Item 10 — Franchise Tax | $250,000 × 0.200000 × 0.001 = $50.00 |
| Item 11 — Filing Fee | $75.00 |
| Item 12 — Total Due | $125.00 |
| Item 13 — Signature | AISHA RAHMAN, PRESIDENT, 09/22/2026 |
How to File the Completed Form
Illinois lets you file BCA 14.05 through four channels. Each has different fees, processing times, and proof of filing.
Online via the Cyberdrive portal. Use the annual report e-file system at ilsos.gov. The portal accepts Visa, MasterCard, Discover, American Express, and ACH e-check. The e-file convenience fee is $50 on top of the franchise tax and $75 filing fee. Processing is immediate in most cases. Save the PDF receipt and confirmation number — that is your proof of filing.
By mail. Send the completed paper form, plus a check or money order payable to “Secretary of State,” to Department of Business Services, 501 S. Second St., Room 350, Springfield, IL 62756. Personal checks, business checks, certified checks, and money orders are accepted. Processing takes 10 to 15 business days. Keep the certified mail green card or USPS tracking number as proof of timely filing under the mailbox rule of 805 ILCS 5/1.10.
In person. Walk the form to the Howlett Building at 501 S. Second St., Room 350, Springfield, IL 62756, or to the Chicago office at 69 W. Washington St., Suite 1240, Chicago, IL 60602. Cashier’s checks, money orders, and business checks are accepted. Processing is usually same day. Ask for a date-stamped copy as proof.
By a registered third-party service. Companies like CT Corporation and CSC offer fee-based annual report filing. They charge $50 to $200 above state fees. Processing matches the channel they use. Keep the service’s confirmation email as proof.
If your filing is late, add a $100 penalty plus 10% of the franchise tax plus 2% per month interest to the payment. The portal will compute this automatically; on paper, you compute and add it to Item 12.
What Happens After You File
Once the Secretary of State accepts your BCA 14.05, the corporation’s status updates to Active and in Good Standing on the business entity search within 24 hours of online filing or 2 to 3 weeks for paper. You can pull a free Certificate of Good Standing for $25 from the certificate request page once status updates.
If the report is rejected, you receive a written notice (mail or email) listing the defects. Common defects include math errors on Items 7 through 10, missing officer information, and unsigned forms. You have 60 days to correct and resubmit without losing your timely-filing date.
If you do not file at all, the Secretary of State sends a delinquency notice roughly 60 days after the due date. Six months past due, the office begins involuntary dissolution proceedings under 805 ILCS 5/12.35. A dissolved corporation can be reinstated within 5 years by filing Form BCA 12.45/13.60 (Application for Reinstatement), paying all back franchise tax, and paying a $200 reinstatement fee.
While dissolved, the corporation cannot bring lawsuits, sign contracts in its corporate name, or maintain its name protection. Officers and directors may be personally liable for debts incurred during the dissolution period under Illinois common law principles applied in People ex rel. Scott v. Pintozzi.
Mistakes to Avoid When Filling Out the Form
These are the field-level errors the Secretary of State sees most often. Each one has a direct, often expensive, consequence.
- Using the trade name instead of the legal corporate name in Item 1. This causes immediate rejection because the database matches by exact string.
- Listing a P.O. box in the registered office in Item 3. This violates 805 ILCS 5/5.05 and the report is rejected.
- Forgetting to list every director in Item 5. The corporation falls out of good standing during the gap.
- Confusing retained earnings with paid-in capital in Item 6. This overstates franchise tax and the Secretary of State will not refund without a corrected report.
- Reporting net income instead of gross revenue in Item 7. This understates franchise tax and triggers 2% monthly interest.
- Leaving Item 8 blank for an Illinois-only corporation. The allocation factor defaults to zero, which actually maximizes franchise tax.
- Rounding the allocation factor to two decimal places. This causes math rejection.
- Forgetting the $25 minimum franchise tax. The system rejects underpayments.
- Omitting the $75 filing fee. The entire submission bounces back.
- Filing without the corresponding BCA 14.30 when paid-in capital changed. This triggers an audit and back-interest.
- Letting the registered agent sign Item 13. The agent has no authority unless also an officer.
- Filing one day late thinking penalties don’t apply yet. Penalties begin the day after the due date.
Do’s and Don’ts
Do file at least 10 days before your deadline so any rejection has time to be cured.
Do verify your file number on the business entity search before opening the form, because a wrong number sends the filing to the wrong corporation.
Do pull paid-in capital from the corporation’s most recent balance sheet, not from the income statement, to avoid the most common math error.
Do keep your registered agent address current with Form BCA 5.10, because the pre-printed annual report notice is mailed there.
Do download a fresh copy of the form from the Secretary of State publications page each year, because rates and fields can change.
Do save the confirmation number and PDF receipt for at least 7 years, because the Illinois Department of Revenue may request proof during an income tax audit.
Don’t use last year’s PDF without checking the revision date, because using an outdated form risks rejection.
Don’t estimate paid-in capital — calculate it precisely from the stock ledger to avoid penalty interest.
Don’t list shareholders in Item 5 — only officers and directors belong there.
Don’t pay only by personal check on a paper filing if your fiscal year-end is tight, because checks take 10 days to clear and processing pauses until they do.
Don’t forget the e-file convenience fee on online filings, because the portal will not let you submit until it is paid.
Don’t assume your CPA will file BCA 14.05 — most CPAs file federal and state income tax returns, not the Secretary of State annual report.
Pros and Cons of Filing on Your Own vs. With Help
Filing on your own saves money and gives you direct control over the data. Hiring help saves time and reduces error risk. Choose based on the corporation’s complexity.
Pros of filing pro se:
- Costs only the state fees ($75 filing + franchise tax + $50 e-file convenience fee), with no professional bills.
- Forces you to learn your own corporation’s capital structure, which helps with future fundraising.
- Faster for simple corporations with no changes year over year, because you control the schedule.
- Direct access to the Cyberdrive portal lets you fix typos in real time.
- Builds a paper trail you control, instead of relying on a third party’s records.
Cons of filing pro se:
- Math errors on franchise tax can cost more than a CPA fee in interest and penalties.
- Missed deadlines fall entirely on you, with no professional safety net.
- Capital structure changes (new shares, redemptions, conversions) require BCA 14.30, which is technical.
- No one reviews the report before submission, so blind spots stay blind.
- Time investment can run 2 to 4 hours for first-time filers.
Pros of filing with help:
- A registered agent service or attorney catches errors before submission.
- Multi-state corporations get correct allocation factors based on actual sales-tax records.
- Calendar reminders prevent missed deadlines, which can save the corporation’s existence.
- Combined filings (e.g., BCA 14.05 + BCA 14.30 + amendments) are coordinated.
- Reduces officer personal liability exposure from incorrect signatures under 805 ILCS 5/16.10.
Cons of filing with help:
- Fees range from $50 to $300 above state costs.
- You give up some control over timing.
- A bad service can still miss deadlines, and you remain ultimately liable.
- Some services upsell unnecessary products like “compliance kits.”
- Data accuracy depends on what you feed the service.
Filing Channel Comparison
| Filing Channel | What to Expect |
|---|---|
| Online (Cyberdrive) | Immediate processing, $50 e-file fee, electronic signature, instant PDF receipt |
| 10–15 business days, no e-file fee, ink signature, certified mail receipt as proof | |
| In Person (Springfield/Chicago) | Same-day processing, no e-file fee, ink signature, date-stamped copy as proof |
| Registered Agent Service | Varies by service, $50–$200 service fee, electronic or ink signature, service confirmation email as proof |
FAQs
Is BCA 14.05 the same as a federal tax return?
No. BCA 14.05 is an Illinois Secretary of State annual report and franchise tax form. Federal returns (Form 1120 or 1120-S) are filed separately with the IRS.
Do S corporations have to file BCA 14.05?
Yes. Illinois treats the federal S election as irrelevant for franchise tax. Every domestic for-profit corporation files BCA 14.05 regardless of S or C status.
Is BCA 14.05 required if my corporation had no revenue this year?
Yes. The form is required even with zero revenue, and the minimum franchise tax of $25 plus the $75 filing fee still applies.
When is the BCA 14.05 due?
No single calendar date applies. It is due the last day of the month before your incorporation anniversary month each year.
Do I write the legal name or the d/b/a in Item 1?
No d/b/a is allowed. Use the exact legal corporate name on file with the Secretary of State.
Can I list a P.O. box for the registered office in Item 3?
No. Illinois requires a physical street address with a county for the registered office.
Should I include shareholders in Item 5?
No. Item 5 is only for the President, Secretary, and Directors. Shareholders are not listed.
Is paid-in capital in Item 6 the same as retained earnings?
No. Paid-in capital is the consideration received for shares plus capital contributions, not accumulated profits.
Do I need to file BCA 14.30 with my BCA 14.05?
Yes, if you issued new shares, redeemed shares, or otherwise changed paid-in capital during the year.
Can the registered agent sign Item 13?
No, unless that person also holds an officer position with the corporation.
Is there a minimum franchise tax?
Yes. The minimum is $25 under 805 ILCS 5/15.35, regardless of allocation factor.
Will my corporation be dissolved if I file late?
No, not immediately. Late penalties accrue first, and involuntary dissolution starts only after about six months of delinquency.
Can I change my registered agent on BCA 14.05 itself?
No. Use Form BCA 5.10 to change the agent, then list the new agent on BCA 14.05.
Is online filing mandatory?
No, but it is strongly recommended. Paper filing is allowed but slower and more error-prone.
Related reading
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