Should I file a 1065?

[Odell Cregger]

A partner and I formed an LLC in November of 2019. We didn't contribute any money or obtain our EIN until after the beginning of 2020. Nor did we do any business or have any asset under the LLC. When I received the EIN it said we needed to file but in the instructions it says if we had no income or deductions we didn't need to. Can anyone help?

[Kory Reynolds]

You don't need to file. However, some practitioners still will to start the statue of limitations if there is anything that could be considered activity. 

Your state likely follows federal.

My thought is don't bother with literally no activity. The only reason I do file with no activity is on multi year development projects where they have activity, just nothing that gets on the income statement.