How do I file an annual report?
Filing an annual report is a very simple process and in some states it can be made on-line, along with the payment of associated fees that is also available on-line. In most of the states, if you are the company’s registered agent, you will receive a form and notice in the mail by the state regulator (Secretary of State, Department of Finance, Department of Corporations, etc.).
What happens if I don’t file my annual report?
Failing to file your annual report may involve late fees, if you are filing late, or it could lead to administrative dissolution of your company (your company will no longer be recognized as a legal entity). If such happens, you can often apply for reinstatement, but the dissolution itself will affect your standing contracts and business relationships. Additionally, administrative dissolution might pierce the corporate veil, exposing you as owner to personal liability.