State Compliance & Annual Report Filings

If you have a registered business such as an LLC, corporation, or nonprofit, you likely have an annual report or similar state compliance filing to be mindful of. Specific requirements depend on which jurisdiction your business is registered in. When you hire us as your registered agent, we’ll include this compliance filing for free—all you have to pay is the state fee.

Skip ahead:

• What Is an Annual Report?
• Is Filing an Annual Report Necessary?
• What to Include in an Annual Report
• FAQs

What Is an Annual Report?

An annual report is a document your business submits to its state of registration each year. Often similar in content to the business formation documents that officially created your entity, an annual report keeps the state up-to-date on your business’s information. The report ensures the state has current contact information and is aware of any relevant changes, such as a new address or change of registered agent.

A few states require compliance filings every two years. Depending on your jurisdiction and its reporting cadence, you may encounter different names for state compliance filings, such as biennial report, periodic report, annual renewal, and statement of information. You’ll also encounter different fee amounts. In some states, you’ll pay as little as $10, and in others you’ll owe hundreds.

This state compliance filing is not to be confused with another type of annual report that’s submitted to LLC members or corporation shareholders. Where those reports are full of financials and granular details, the state-mandated version is more of a check-in.

What’s the difference between an annual report and state compliance filing?

Your annual report is a form of state compliance filing. The terms are often used interchangeably, but refer to the same type of state report.

Is Filing an Annual Report Mandatory?

If your state has annual compliance (or equivalent) requirements that apply to your business, then filing one is mandatory. While it can be hard to keep track of this filing’s deadline and fee requirements, it’s an essential part of ensuring your business remains in good standing with the state.

What if I don’t file an annual report?

Consequences for failing to file an annual report vary by state. If you miss the due date, you’ll typically enter a grace period in which to file before harsh penalties kick in. That said, late fees will likely apply.

If you neglect to file your report by the deadline and/or within a provided grace period, your business may lose its good standing with the state. In some cases, failing to file can even lead to administrative dissolution. If your LLC or corporation is dissolved, you’ll have to file additional paperwork and fees to get it back in running order.

What Information Do I Include in an Annual Report?

Every state has different requirements for what to include in an annual report. Additionally, specifics vary by business type—corporations and LLCs are often asked to provide slightly different pieces of information. But in general, annual reports often ask for information similar to what was queried on your business’s formation documents. Required information often includes:

• Business name
• Physical business address and mailing address (if different)
• Registered agent name and address
• Member/manager/officer names and addresses
• Contact information

How do I submit an annual report?

Your state will provide instructions for acceptable means of annual report submission. Many states allow for both online and paper filings. However, states are increasingly moving their business filings online. If you’re in a time crunch or want to move through processing more quickly, online filing is almost certainly the way to go.

How much does an annual report cost to file?

Annual report fees vary by state. Many states charge in the neighborhood of $20, but others charge much more. If you’re in a state with a franchise tax, pay attention to whether this is lumped in as part of your compliance filing. For example, in California you may owe the $800 franchise tax fee at the same time that your report is due. In Massachusetts, LLCs owe $500 alongside their annual reports. Because fees vary so widely state-to-state, make sure to check your requirements and plan accordingly.

Frequently Asked Questions