Annual Report

An annual report (also called a biennial report or periodic report in some states) is a mandatory filing required by most U.S. states that updates the Secretary of State on key business information — including the entity's principal office address, registered agent, officers or managers, and authorized activities. Filing fees range from $0 (Ohio) to $500 (Massachusetts), with most states charging between $50 and $150, and deadlines vary by state — some tie to the entity's formation anniversary date while others use fixed calendar deadlines. Forty-seven states plus the District of Columbia require some form of periodic report for LLCs and corporations, with filing frequencies ranging from annual (most common) to biennial (every two years, in states like Indiana and Pennsylvania). Late filing triggers penalties that escalate quickly: California charges $250 per late filing, Illinois imposes a $100 penalty that doubles the filing cost, and states like Delaware and Georgia will administratively dissolve entities that miss deadlines for two consecutive years. The consequences of administrative dissolution include loss of liability protection, inability to enforce contracts, disqualification from banking and financing, and costly reinstatement fees ($100–$1,000+ depending on the state and duration of non-compliance). For multi-state businesses registered in 5–15 states, annual report compliance requires tracking dozens of different deadlines, fee amounts, and filing portals — creating an operational burden that scales linearly with geographic expansion. doola automates annual report tracking, preparation, and filing across all 50 states, ensuring entities maintain continuous good standing without manual calendar management.