Attention, all small business owners!
Have you filed your incorporation paperwork and think you’re set? Well, partly. Filing for your entity paperwork is just the first step to making your business legal. There are a few things you have to do to keep your business’s legal status current and compliant. One such thing is filing an annual report.
Panicking? Relax, take a few deep breaths. We have all the annual report details for every state. And we'll guide you on what an annual report is and how it keeps your business running smoothly.
State-by-State Annual Report Filing Information
Our comprehensive list has information on how to file an annual report in all 50 states for both LLCs and corporations. To access information about the due date, filing fee and filing frequency, select your state from the drop-down below:
Select your state above.
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What’s an Annual Report?
An annual report, often known as a Statement of Information or Periodic Report, is a filing that business entities, like LLCs, Corps or S Corps, have to do with their respective Secretary of State. Sole proprietors or partnerships aren't generally required to file one.
The purpose of the annual report is to provide investors, government bodies and the public with important information to locate and communicate with businesses formed or doing business in the state.
The filing provides insights into your business’s activities and dealings in the previous year. Think of it as a report card of your company with all the updated information.
An annual report is generally comprised of important details pertaining to your LLC like:
- Business name
- Member name(s) and contact information
- EIN number and state-given LLC or entity number
- Business address (physical and mailing address if they are different)
- Type of business and NAICS Code
- Registered Agent information
- If it’s a corporation, the names and addresses of directors and officers
The information has to be accurate and factual. Doctored up or false information can result in unnecessary fines or even be considered fraud.
Some states may require additional information, and remember, these requirements can change unannounced, so check with your Secretary of State’s website for the latest filing information.
Why Should I File an Annual Report?
Filing an annual report might seem trivial, especially if everything is status quo in terms of business information, but it’s actually quite important. Failure to file or missing the deadline can result in fines (we don’t want you paying a penny more than you have to) or loss of your Certificate of Good Standing, which can make any business growth plans go awry. If that doesn’t scare you, failing to file for years in a row can ultimately result in your company being dissolved (yikes!).
Filing your annual report also shows the regulatory authorities that your business is still "current" and continuing business operations. It helps you keep your business name, trademarks and relevant tax and liability advantages. It also shows the world that you are a legitimate business owner who complies with laws and regulations.
Steps to Filing an Annual Report
The exact steps to filing an annual report and the deadlines are based on your state of incorporation and entity type. Your state's Secretary of State website will provide you with a form and online portal to submit your information. However, there are a few things that you should watch out for and check regularly:
- Which States Require an Annual Report? Not all states require annual report filing. For example, Ohio and South Carolina don’t require any annual report filing for LLCs or corporations. Missouri and New Mexico only require annual report filing for businesses structured as a corporation.
- Filing Dates. Each state has a different stipulation on the annual report filing due date. Some require the first report within six months of incorporation; others require it to be submitted biennially (every 2 years).
- Filing Procedure. Times have changed, and though some states still accept mailed in annual reports, the majority allow only electronic filing. There might be some payment differences for mail-in versus online applications.
- Fees. Filing an annual report isn’t free of cost and there is no standard fee for annual reports. All states (except Idaho) charge a fee as part of processing the paperwork for for-profit Corporations and LLCs. The filing fees could range from $10 to $300 — all dependent on your business's home state.
So, now let's say you're running a business in Newark. You might be wondering, "Where can I get all the information I need to file a New Jersey annual report?" Or you are freelancing out of your home in Dallas and are pondering, "Are annual reports required in Texas?" We know it can be cumbersome to dig through your Secretary of State’s website to get all the information you need. That's why using our state-by-state list above of annual filing report requirements, filing fees and deadlines can ease the process for you.
A Must-Do — Filing Your Annual Report
As a small business owner, we know how precious and hectic your time is. But it’s necessary to carve out some time to ensure your business’s compliance is up to date. Furthermore, filing an annual report is a must-do for any law-abiding small business.
If you are stretched for time or are confused about how to file your annual report, why not let Incfile handle it for you? Our Annual Report service will manage all the paperwork for you and keep your business protected and in line with your individual state’s requirements — always.
Swara Ahluwalia
Swara Ahluwalia is a freelance content writer with experience in the technical, B2B and SaaS domain. She also has curated content for various lifestyle brands. In her downtime, you will most likely find Swara training for her next marathon or spending time with her two daughters.
