Starting on January 1, 2025, Pennsylvania is implementing a new annual reporting requirement for most domestic and foreign business entities, which will replace the previous decennial reporting system.
Who is Required to File?
- Business corporations
- Nonprofit corporations
- Limited liability partnerships (LLPs)
- Electing partnerships that are not limited partnerships
- Limited partnerships (including limited liability limited partnerships)
- Limited liability companies (LLCs)
- Professional associations
- Business trusts
- All registered associations
Required Information
Businesses can comply with the new law by providing the following information with the annual report:
- Business Name
- Registered Office Address
- Principal Office Address
- Name of at Least One Governor (i.e., director, member, or partner)
- Names and Titles of Principal Officers, if any
Filing Deadlines
- June 30th – For all Corporations (business and nonprofit, domestic and foreign)
- September 30th – For all Limited Liability Companies (domestic and foreign)
- December 31st – For all other entities (Limited Partnerships, LLPs, Business Trusts, and Professional Associations)
Consequences of Non-Compliance
Failure to file an annual report may lead to an administrative dissolution, termination, or cancellation of the business entity’s registration six months after the due date. Additionally, during this dissolution/termination/cancellation period, the entity may lose the protection of its business name, making it available to other associations. While domestic entities can apply for reinstatement without a time limit, foreign entities must re-register by submitting a new Foreign Registration Statement.
Recommendations for Business Owners
- Update contact information: Ensure that the registered office address and email on file with the Department of State are current in order to receive timely notifications.
- Mark Deadlines: Note the specific filing window for your entity type and plan to file early to avoid last-minute issues.
- Prepare Information: Gather the required details in advance to streamline the filing process
Let our experienced team take the stress our of compliance. We’ll handle the filing process efficiently and ensure all your documentation is accruable and submitted on time. Don’t leave your business’s future to chance. Contact us today to secure your compliance and focus on what you do best – running your business.
