An annual report (sometimes called a "Statement of Information" or "Annual Statement") is a filing your state requires to keep your business in good standing. Despite the name, it's not a financial report — it's a simple form confirming that your business information is current.
If you don't file it: Your state can administratively dissolve your LLC or revoke your corporation. This means your business is no longer legally operating, and you lose your liability protection.
Almost every state's annual report asks the same things:
That's it. If nothing has changed since last year, you're confirming "same as last year" and paying the state fee.
This varies by state. Some are due on your LLC's anniversary date, others on a fixed calendar date. Common patterns:
| State | Due Date | State Fee | Late Fee |
|---|---|---|---|
| Florida | By May 1 | $138.75 | $400 |
| California | Within 90 days of anniversary | $20 | Suspension risk |
| Texas | By May 15 (franchise tax report) | $0 | $50/day |
| Wyoming | Anniversary month | $60 | Dissolution |
| Delaware | By June 1 | $300 (LLC) | Late fee + interest |
| New York | Anniversary month (biennial) | $9 | Not enforced strictly |
| Colorado | Anniversary month | $10 | Dissolution after 2 months |
Search "[your state] annual report filing" or go directly to your Secretary of State website. Common portals:
Enter your business name or filing number. The system will pull up your current information on file.
If your address, registered agent, and officers are the same as last year, just confirm. If anything changed, update it. Most states let you make changes as part of the annual report.
Pay by credit card (most states) or ACH. You'll get a confirmation. Save it for your records.
This takes 5-10 minutes once a year. The hard part isn't the form — it's remembering to do it. Miss the deadline and you face late fees or dissolution.
That's the actual value of a compliance service: not the filing itself, but the reminder and follow-through. If you're a TrueFormed customer, we track the deadline automatically and file your annual report as a $99 + state-fee add-on. If you prefer à la carte, you can order a single annual report filing without a subscription.
But if you want to handle it yourself, now you know how. Set a calendar reminder for your due date, take 10 minutes when it comes up, and you're done.