Keeping your business compliant and up-to-date doesn’t have to be a hassle. With Epik’s Annual Report filing services, you can ensure everything is in order without breaking a sweat! We will complete and file your company’s annual report so you can focus on what you do best—growing your business.
What is an annual report?
An “annual report” is a vital document that most state-registered businesses must file every year to stay compliant. It serves as a snapshot of your business’s current status, providing important updates to the state and your stakeholders. Filing this report keeps your business information (like contact info) current in the state’s records and ensures you meet regulatory requirements.
These reports are usually due annually, as the name suggests, but a few states require reports every two years. And if you’re in Pennsylvania, it’s only due once every 10 years! As the dates and requirements vary, be sure to check the annual report details for your state.
What information does an annual report require?
The information required for an annual report is generally similar to what you submit when you initially form your LLC or corporation. Each state has their own requirements, but an annual report typically includes:
- Business name and address. The official name and physical address of your business.
- Governors. Names and addresses of the current governors (those who run your business, such as directors, officers, managers or members).
- Registered agent information. Details of the registered agent responsible for receiving legal documents on behalf of your business.
- Financial information. Summarized financial statements or key financial figures, depending on state requirements.
- Corporate structure changes. Any changes in the company’s structure, such as amendments to the articles of incorporation or changes in ownership.
Why do you need to file an annual report?
Stay compliant. Filing your annual report helps you avoid penalties and ensures your business remains in good standing with the state.
Update information. It ensures all corporate information is current and accurate, which is necessary for legal and operational transparency.
Maintain legal status. Prevents administrative dissolution or revocation of your business license, safeguarding your legal right to operate.
Transparency. Provides partners and stakeholders with up-to-date information on your business’s status and financial health, building trust and credibility.
How to file an annual report
You can file your annual report by following a few steps:
- Gather information. Collect all necessary details, including updated contact info, financial data, and any structural changes. Make sure all the information is accurate and current.
- Complete the form. Fill out the required state-specific forms. Each state has its own set of forms and requirements, so it’s important to make sure you’re completing the correct paperwork.
- Submit and pay. Submit the completed form either online or by mail. Be prepared to pay any associated fees, which can vary by state. Keeping a record of your submission is also recommended.
What happens if I don’t file?
Not filing your annual report can lead to some serious hassles, including:
- Fines and late fees. States impose penalties for late or missed filings, which can add up fast.
- Loss of good standing. Failing to file can result in your business losing its good standing status, which can affect your ability to do business legally.
- Administrative dissolution. Persistent failure to file can lead to the state dissolving your business, meaning you can lose your legal right to operate.
- Impact on business reputation. Non-compliance can damage your reputation with customers, partners, and investors.
Remember, annual report dates vary by state, so it’s important to check your state’s specific requirements.
Why choose Epik?
- Expertise. Our team has extensive experience in handling annual report filings, ensuring your report is accurately completed and filed on time.
- Convenience. We offer a streamlined process that saves you time and effort, allowing you to focus on running your business.
- Compliance. We stay updated with changing state requirements to keep your business compliant, so you don’t have to worry about missing important updates.
- Support. Enjoy legendary customer support to assist you every step of the way, answering any questions and offering expert guidance.
- Cost-Effective. Unbeatable pricing at $100 plus state fees, offering you peace of mind without breaking the bank.
How it works
- Sign up. Create an account with Epik and select the Annual Report service. Our platform makes it easy to get started.
- Provide information. Submit the required business details and any updates. Our system guides you through the information needed, ensuring you don’t miss any important details.
- Review. Our experts review the information for accuracy and completeness, making sure everything is in order before submission.
- File. We file the report with the appropriate state agency on your behalf, taking the hassle out of the process for you.
- Confirmation. Receive confirmation of your filing and maintain compliance. We’ll provide you with a copy of the filed report and any relevant documentation will be accessible in your client account.
Ready to team up with Epik?
Don’t let annual report filing get you down. Let Epik handle it for you, so you can focus on your business!