Annual Vs Biennial Reports: What Small Businesses Must Know

A person works on a laptop displaying an online business annual report filing form in a warm, cozy home office, with a notebook, coffee mug, and houseplants on the desk.

Once your business is established, you will be required to file a mandatory Annual Report or Biennial Report, depending on your state of formation. This report essentially renews your business with the Secretary of State and is necessary to keep your business active and compliant with state regulations.

Maintaining an active status ensures your business retains state protections and informs the state that you are still operating. Missing these required filings can result in your business being administratively dissolved by the Secretary of State. If this occurs, you may be required to reinstate the business or refile entirely, leading to additional fees.

What Is an Annual or Biennial Report?

An Annual Report is a yearly filing with the Secretary of State, while a Biennial Report is the same type of filing submitted every two years under your state’s rules. For U.S. entrepreneurs, solo founders, startups, and small business owners comparing annual versus biennial reports, the real difference is how often you must file to keep your business active, compliant, and in good standing.

A Biennial Report is filed once every two years to keep your business information current, whereas an annual report covers a one-year compliance cycle. Annual reports can also push businesses toward shorter-term administrative cycles, while biennial reporting may better match longer-term strategic growth in some cases.

Depending on where your business is registered, your annual or biennial report may be due based on your formation date, a set calendar month, or your fiscal year and missing that deadline can trigger late fees, loss of good standing, or even administrative dissolution.

This guide breaks down what annual and biennial reports are, how they differ, which states require biennial reports, what filing fees and deadlines to expect, the mistakes that cause compliance problems, and how Firstep Business Solutions can help manage filing and ongoing compliance.

Why Annual and Biennial Reports Matter

By completing and filing your report, your business will remain active and compliant with state regulations, ensuring it legally proceeds with all available state protections and is in position for certain business transactions. This filing also notifies the Secretary of State that you are still actively doing business.

When your business report is due, it is the perfect time to update official state records with any new current business information.

For example, this could include the business address, mailing address, registered agent or registered agent address, and even ownership information, if displayed by the state.

When a report is missed, your business can become not in good standing, non-compliant or even be administratively dissolved by the state.

Please ensure all necessary reports are filed on time to keep your business in good standing, remain compliant, and maintain state protections.

Once a business shows an administrative dissolution, revocation, or an inactive status you must begin the reinstatement process. Please be aware that this process can involve high fees and a lengthy timeline to restore your business to an active status. In some instances, a business cannot be reactivated, and you may need to form and register a new business entity instead.

How To File: File a Biennial or Annual Report

Check your state's Secretary of State portal first, as most states require these reports to be filed online through that website or a similar filing service portal.
Gather your business name, id number, registered agent details, and any other required information.
Complete the online report form carefully. Be sure to double-check the business addresses, registered agent, and the Officers or LLC members listed on the form; some states may also ask for officer details such as the chief executive officer.
Pay the applicable filing fee for the business and ensure the receipt is recorded for your records.
A confirmation of submission is typically sent after filing to the email provided; store it with your compliance records.

Annual Reports: Typical Requirements and Filing Fees

The required information usually includes your business name, principal address, registered agent details, and any updates to members, managers, officers, or other key business records.
Filing fees typically range from $0 to several hundred dollars depending on the state, and the amount can differ for online filing versus paper submission.
Note that the filing period depends on the state and may be tied to a specific calendar month.

Biennial Reports: Timing and Details

A biennial report is commonly filed by a business corporation or a limited liability company. It is due every other year and is used to confirm or update business information.
Filings may be due on the anniversary-month versus fixed-date due dates, check with the Secretary of State to determine correct due dates.
Note that the filing period depends on the state and may be tied to a specific calendar month.

States That Require Biennial Reports

Alaska — requires filing a biennial report due on January 2nd every two years for LLCs and Profit Corporations. Non-Profit Corporations require filing a biennial report due on July 2nd every two years
Kansas - Requires biennial reports starting January 1, 2024. Entities formed in even years file in even years, and those formed in odd years file in odd years
California (LLCs & Non-Profit Corporations)
Indiana
Iowa- LLCs and Non-Profit Corporations: Filed by April 1st of every odd-numbered year. Profit Corporations: Filed by April 1st of every even-numbered year.
Nebraska
New York
Washington DC

Common Filing Mistakes And How To Avoid Them

Businesses that don’t have a clear system to set reminders, stay informed about each due date and filing period, and track annual and biennial deadlines, amendments, and state notices are more likely to miss filings and fall out of good standing; using a structured approach or comprehensive guide to managing business filings and compliance can significantly reduce those risks and help with staying compliant with recurring state deadlines by tracking anniversary months and state notices.

Being a business owner you will want to verify your business ID and exact legal name to ensure you are filing the report for the correct entity.

Errors can delay the processing of your annual or biennial submission, and additional fees may apply if the filing needs to be corrected. In some cases, once the report is filed, it cannot be undone or fixed until the next reporting period.

Please ensure you always keep your registered agent information current. Accepting service of process is critical to maintaining your business's active status. The registered agent serves as your business’s official point of contact for the state and courts. Without an active agent, you risk missing critical legal notices, losing your corporate good standing, or facing severe penalties like state-mandated business closure.

Setting calendar reminders well before due dates can be an immense help. To ensure you never miss any reporting requirements, please consider adding these deadlines to your schedule. Filing fees can range from $0 to several hundred dollars. Missing the deadline can also trigger penalties, including late fees or dissolutions in some states, even though the consequences vary by jurisdiction; while biennial schedules can reduce administrative costs compared with annual filings, they still require timely submission.

How Firstep Business Solutions Helps With Filing

Business Filing powered by Firstep provides an online platform that helps businesses stay compliant with annual and biennial report deadlines across multiple states, track due dates, and help keep your entity in good standing.

Firstep Business Solutions has assisted filing packages, backed by an established history of supporting entrepreneurs with filing services.

Automated reminders and renewal services that can be combined with other additional business services like websites and filings, helping reduce filing issues for annual or biennial reports and related filing fees.

A business professional in glasses and a navy suit sits at a desk with a laptop in a modern office. Shield and checkmark graphics, along with icons labeled “Compliance,” “Security,” “Trust,” and “Peace of Mind,” appear in the background.

Annual/Biennial Filing Checklist

When building your checklist, consider whether you will handle all state filings yourself or work with a service that can manage your business filings and compliance tasks so critical deadlines are not missed.

Confirm the filing frequency, the exact due date, and whether your state ties the report to an anniversary month or another filing period.
Gather all required information before you begin, including your current business address, registered agent details, and your state ID number. Additionally, please provide any updates regarding changes to officers or members, if applicable.
Pay the filing fee, save your confirmation for your records, and note that some states process reports immediately when filed online while others may take a few business days.

Conclusion

Regardless of whether your state of formation requires an annual or biennial report, it is imperative that you file accordingly. Keeping your business active and compliant with state regulations ensures the state knows your business is active and that all information is accurate and up to date.

An inactive or administratively dissolved status can negatively impact your professional reputation and potentially prevent you from closing important deals. Furthermore, once a business is formally dissolved by the state for failure to file a business report, you immediately lose certain protections provided by the state. Learn to protect your corporate veil and personal liability protections. If the business remains active, your protections will remain intact.

Setting calendar reminders to file your business's required reports is an effective way to maintain compliance and ensure your information remains up to date. While amendments to a filing are usually an option, they often incur unnecessary fees. Filing accurately and on time helps you avoid these extra costs and maintain accurate records, keeping your business compliant and profitable.\

Maintaining an active business filing with accurate information does not have to be a daunting task. Firststep Business Solutions is here to help. We can assist you with your annual or biennial reporting requirements, as well as many other business needs.