Doing Business in PA? You Must File an Annual Report – Here’s the Breakdown
Adam Cox, CPA
As of January 6, 2025, most businesses registered to do business in Pennsylvania are now required to file an Annual Report with the Department of State. This new reporting requirement is a direct result of Act 122 of 2022, a bill in the Pennsylvania State Legislature signed into effect on November 3, 2022. It seeks to bring Pennsylvania up to speed with numerous other states that have similar annual reporting and disclosure requirements.
Who is required to file?
The new Annual Report extends a filing requirement to most domestic business entities – and all foreign business entities – registered to do business in Pennsylvania. For these purposes, a domestic entity is defined as one that was organized or incorporated in Pennsylvania, while a foreign entity is defined as one that was organized or incorporated in a jurisdiction other than Pennsylvania.
Types of domestic entities that are included in this annual reporting requirement include for profit corporations, nonprofit corporations, entities recognized as S corporations under federal law, professional associations, business trusts, limited partnerships (LPs), limited liability partnerships (LLPs), limited liability limited partnerships (LLLPs), and limited liability companies (LLCs).
What information is to be included?
The following information must be included on every annual report, even if there are no changes on a yearly basis:
– Name of business
– State (or country) of formation
– Address of office registered with Pennsylvania Department of State
– Principal business address, if different
– Name of at least one officer (director, member, partners, etc.)
– Names and titles of principal officers
– Pennsylvania Department of State (DOS) Entity Number
Due Dates
All foreign and domestic corporations that file an Annual Report will be required to do so by June 30th each year. All limited liability companies will be required to file annually by September 30th, while all LPs, LLPs, LLLPs, business trusts and professional associations have a filing deadline of December 31st.
How to File
While not required, it is highly recommended to file the Annual Report online at file.dos.pa.gov. The state has indicated that all reports submitted online will automatically be approved. All for profit business entities are subject to a $7 filing fee. Our dedicated team of advisors at Louis Plung & Company are more than happy to assist you in the filing process.
No matter which route you take, be careful not to miss your business’s applicable filing deadline. Failure to file a timely Annual Report may result in dissolution, termination, or cancellation of your business registration in Pennsylvania.
Summary/Conclusion
Navigating any change in your business’s filing requirements can be a lot to keep track of. The new Annual Report requirement in Pennsylvania is designed to give the Department of State a yearly look into the demographics of your company to help ensure that all its basic information is current and up to date. The information provided is not subject to any additional taxes, and the filing fee is a fixed fee that will not change based on your company’s income.
Feel free to consult with your trusted tax advisor at Louis Plung & Company with any additional questions or concerns you might have or email [email protected].
