A business annual report is a routine state compliance filing, not a financial report or tax return. Most LLCs and corporations must file one with their state, typically once a year, to keep their public record current and maintain good standing. Still, requirements vary by state and entity type.
- If you own an LLC, corporation, or nonprofit: You may need to file an annual report with the state where your business is registered.
- If you run a tax-exempt nonprofit: You may need to file IRS Form 990 or Form 990-PF with the federal government, plus any state annual report filing.
- Note: An investor or shareholder annual report is a separate document.