Posted by Dale Hazzard and Hannah Prengler
Beginning January 1, 2025, Pennsylvania requires nearly all types of domestic and foreign entities located or doing business in Pennsylvania to file an annual report. Below highlights what your business needs to know.
The Pennsylvania annual report, and the $7 filing fee, is imposed on the following entity types registered with the Pennsylvania Department of State:
The following entities must file but are exempt from the filing fee:
The following entities are exempt from filing this report:
Below is a summary of annual report due dates:
For newly created entities, the initial annual report is due the year after the entity is formed in Pennsylvania. For new foreign entities organized outside of Pennsylvania, the initial report is due in the year after doing business/registering with the Pennsylvania Department of State.
Pennsylvania intends to mail postcard reminders to all office addresses on file at least two months prior to the company’s respective filing due date. Businesses can sign up for more reminder notifications on the state’s website by providing an email address and accepting allowance for additional notifications.
Find more details about Pennsylvania’s annual report on the state’s website.
Domestic Entity Penalties
Failure to file an annual report for all domestic filing entities will result in administrative dissolution, administrative cancellation for all domestic limited liability partnerships and administrative termination for foreign associations.
Foreign Entity Penalties
Beginning in 2027, all foreign associations that do not file an annual report in Pennsylvania will be subject to the loss of protection of the entity’s name. After the entity’s respective dissolution, cancellation or termination is filed, the entity will no longer have right to their business name as it becomes available to the public for use.
Your business can file the annual report online by logging into the Pennsylvania Department of State website. You can pay the applicable filing fee when submitting the report.
Pennsylvania will join numerous states that already require annual reporting by state-registered businesses. If you have questions while evaluating or filing your new Pennsylvania annual report, reach out to your advisory team.
Contact Dale Hazzard, Hannah Prengler or a member of your service team to discuss this topic further.
Cohen & Co is not rendering legal, accounting or other professional advice. Information contained in this post is considered accurate as of the date of publishing. Any action taken based on information in this blog should be taken only after a detailed review of the specific facts, circumstances and current law with your professional advisers.