Each business incorporated with the North Carolina Secretary of State’s office is required to file an annual report with the Secretary of State’s office each year. The type of business entity will likely determine when the report is actually due to the Secretary of State. If you as a business owner have several incorporated businesses which differ in the type of entity (a corporation, an s-corporation, limited liability company, etc.), your annual reports could be due at different times.

The reason it is important to timely file the annual reports is that State law mandates that each incorporated business file an annual report in order to keep the State up to date regarding the business. For example, is the business still in operation, what the mailing address is, the contact information, the registered agent information, etc.

When are limited liability company’s annual reports due?

LLC annual reports are due each year by April 15. The annual report due date is not associated to fiscal year end but is tied to the current year for which a report would be due. Upon incorporation of the limited liability company, the first annual report will be due April 15 in the year following the year of incorporation and then each April 15 thereafter.

The North Carolina Secretary of State notifies the business community to limited liability companies which have not filed an annual report or for which an annual report was previously rejected. The importance of these notices is that all businesses which are delinquent in their filings will have time to correct the delinquency or provide satisfaction to the North Carolina Secretary of State that a delinquency does not exist. If the correction or proof is not resolved within the time period, the North Carolina Secretary of State may administratively dissolve or revoke the corporate charter for the business.

No Extensions Available for Filing

The Secretary of State does not have the statutory authority to extend an Annual Report filing deadline or the filing fees. By statute, the Annual Reports are generally considered delinquent after June 15th. However, there may be an even greater reason to file on time if you will be applying for any federal or state stimulus packages or relief. Begin delinquent or suspended could impact your chance to participate in the stimulus or relief funds.

Thus, if you receive such a notice, it is important to respond to the North Carolina Secretary of State. If the company is still in business, it remains important for the officers and/or owners of the business to make sure to keep the corporate charter in good standing. Otherwise, it could create opportunities for personal liability for the officers and/or owners of the business.

If you have any questions, please feel free to contact us.