Annual Reporting

Legal Counsel for Annual Reporting of Your Business Entity

An annual report is the disclosure of a company’s operational and financial activities throughout the year. Business owners of a profit or non-profit corporation must file an annual report, including Limited Liability Companies (LLCs), Limited Liability Partnerships, S-Corporations, and C-Corporations. The Annual Report must be submitted to the Florida Department of State, Division of Corporations. In addition, it is distributed to a company’s investors, shareholders, and others with interests in the company. Generally, sole proprietors and partnerships are not required to file an annual report. Once an entity is dissolved through filing Articles of Dissolution with the state, it is no longer necessary to file an annual report.

An Annual Report is a Mandatory Statement of Information

The purpose of an annual report in Florida is to update the Florida Department of State, Division of Corporations’ records. In addition, it provides public disclosure of a company’s financial performance, which is crucial for individuals making investment decisions. An annual report generally includes basic information such as the name and location of the business, the names of the managers, board of directors, and officers in a corporation, the purpose of the business, registered agents, and the number of shares of stock issued by the business. It includes the revenue a company generates and expenses throughout the preceding year.

Penalties for Non-compliance

Under Florida statute 817.155, a person is guilty of a third-degree felony and punishable by law if they falsify a material fact, misrepresent, or fraudulently file an annual report. Annual reports are due in Florida between January 1st and May 1st of each year. Non-compliance in filing an annual report for an entity will result in the business being administratively dissolved, revoked, or deemed inactive. There are significant fines to reinstate a business.

Guidance for all Business Law Matters

At the Downer Law, we are knowledgeable in all aspects of business law. We have assisted entrepreneurs and seasoned business owners with practical and technical advice from start-up to succession planning and dissolution for all types of entities. 

Request a Consultation with the Downer Law, for Confidence that Your Annual Report Accurately Reflects the Scope of Your Business

 If you need help with filing an annual report or reinstating your business due to a lapse in filing, we can help. If your business and future are in jeopardy due to allegations of false filing of an annual report, our law firm can protect your rights and get the best results.

Contact Downer Law to schedule an appointment at our office.

We represent clients in Volusia, Seminole, and Orange county.

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