Nearly every state requires LLCs and Corporations to file an Annual Report (sometimes called a Statement of Information or Biennial Report) on a regular basis. This mandatory filing is one of the most important recurring compliance tasks for any business owner. Its purpose is to ensure that your business remains in good standing with the state.
Missing your Annual Report deadline can lead to serious consequences, including financial penalties and even the administrative dissolution of your company. To prevent this, Dappr offers a service to prepare and file your report for you, and this service is automatically included for all auto-filing subscription customers.
What is an annual report?
An Annual Report is a routine filing that updates the state's public records with your company's current information. It is not a detailed financial report like your tax return. Instead, it typically confirms or updates basic details such as:
The company's legal name and principal business address.
The names and addresses of its members/managers (for an LLC) or officers/directors (for a Corporation).
The name and address of your registered agent.
By submitting this report, you are confirming to the state that your business is still active and that its contact and management information is up to date.
Why is filing important?
Failing to file your Annual Report on time can have severe repercussions:
Loss of Good Standing: The state will change your company's status from "Good Standing" to "Delinquent" or a similar status. This can prevent you from obtaining a Certificate of Good Standing, which is often required for opening bank accounts, securing loans, or entering into major contracts.
Late Fees and Penalties: States impose financial penalties for late filings, which can increase over time.
Administrative Dissolution: If you fail to file for an extended period, the state has the right to administratively dissolve your company. This means your business legally ceases to exist, and you lose the liability protection of your LLC or Corporation.
Dappr's annual report service
To ensure you never miss a deadline, Dappr's Annual Report filing service is automatically included with our auto-filing subscription. If you are a subscriber, we will proactively prepare and file your report with the state before the due date each year. It's a "set it and forget it" compliance solution.
How to order the service manually
If you are not an auto-filing subscriber, you can still order the Annual Report filing service as a one-time purchase.
From the main menu, navigate to Business Records.
Select Legal and filing services from the top menu.
Click on the Filing services tab in the sub-menu.
Find the Annual Report service in the list and click the Order button.
You will be guided through a short form to confirm your company's details.
Complete the form and proceed to payment to finalize your order.
Once your order is placed, Dappr will prepare the necessary documents and file them with the state on your behalf. You can track the progress of your filing from your main Dappr dashboard and in the "Orders" tab of the Legal and filing services page.