ANNUAL REPORTS

As you know (or may not know) the Massachusetts Secretary of State requires you to file an annual report every year. This applies to both LLCs and corporations. These are very simple forms to file, and you will confirm the current entity information (e.g., name, address, officers/mangers). If there has been a change to the entity, this is the time to update that information.

I also suggest that my clients update their registered agent to me. See my post on agents. It is a straightforward process, and it makes better sense to have me as your registered agent.

While filing an annual report seems like a minor detail, issues can arise if you fail to file one. If you fail to file after a few years, the Secretary of State can dissolve your entity. This means you no longer have the liability protection. You will then need to spend time and money getting your entity reinstated. While updating new clients’ annual reports, I have found some entities with missing reports. I immediately get their reports updated and stop any chance of them getting into trouble with the Secretary of State.

If you have an LLC or corporation and are unsure of your annual report status, please contact me. I can quickly assess if you need to file one, and for which years. If an annual report is required, I can file it and avoid any chance your entity is dissolved.