PA Update: Pennsylvania business entities will need to file annual reports beginning in 2025
A new Pennsylvania law, Act 122, signed in November 2022, has changed how and when Pennsylvania business entities must file information reports with the PA Department of State.
The law repealed the former decennial reporting requirement for most entities, replacing it with an annual reporting obligation that will commence in 2025. Administrative consequences for failure to file will be delayed until 2027.
We previously reported on this law change concerning nonprofit organizations in "Changes to Pennsylvania's Business Corporation Law - What Nonprofits Need to Know". The purpose of this article is to include information regarding other PA business entities.
What are the new filing requirements, including fees, for Pennsylvania business entities?
| Entity type | Filing fee* | Due date |
|
Corporations – foreign and domestic |
$7 |
June 30, every year |
|
LLCs – foreign and domestic |
$7 |
September 30, every year |
|
Professional LLC – foreign and domestic |
$7 |
September 30, every year |
|
Nonprofits, cooperatives, and religious corporations |
$0 |
June 30, every year |
|
LPs -foreign and domestic Electing partnerships Business trusts |
$7 |
December 31, every year |
*Late fees: $15 for every annual report not filed.
Note: Until 2027, the Pennsylvania Department of State will not administratively dissolve a business entity for failure to file due to this new requirement.
How to file the Pennsylvania Annual Report
Act 122 became effective on January 3, 2024, and the annual reports are required beginning with the calendar year after the effective date. Therefore, the Pennsylvania Annual Report is mandatory starting in 2025. Currently, there is no way to access the annual report form. Here’s how to file the annual report when it is available in 2025.
To File Annual Report Online:
- Go to the Pennsylvania Department of State website.
- If you do not already have an account, you’ll need to create one by clicking “Sign up now!”
- Once logged in successfully, you can immediately begin filing your annual report.
To File Annual Report By Paper:
- Visit the Department of State website, go to the Registration Forms Page.
- Click the Annual Report link.
- The chosen form will appear on your screen immediately. Both forms can be typed or handwritten in blue or black ink.
As indicated in our prior article “Changes to Pennsylvania's Business Corporation Law - What Nonprofits Need To Know” the annual report will include the following information:
- Business entity name
- Jurisdiction of Formation
- Address of registered office
- Name of at least one board member
- Names and titles of the entity’s principal officers
- Address of principal office
- Entity number issued by the Pennsylvania Department of State
Please contact your Herbein tax consultant if you have questions regarding the new Pennsylvania annual report filing requirements.
Article Contributed by Barry Groebel.
