Annual Reports: A Business Owner’s Guide to Filing in California

Running a business in California means staying on top of your legal obligations, and two of the most important are filing your Statement of Information and annual reports. Whether you’re just launching a new LLC or overseeing a mature corporation, submitting these filings keeps your company in compliance and maintains its legal standing with the state.

This guide walks you through everything you need to know about annual reporting in California: what it is, who’s required to file, deadlines, fees, and what can happen if you don’t comply.

What Is a Statement of Information?

The Statement of Information is California’s version of an annual or biennial report. It’s filed with the California Secretary of State and is required to keep your entity’s information up to date in the state’s records. Think of it as a way to confirm and update your business’s leadership, location, and purpose each year or every other year, depending on your business type.

These reports, including the Statement of Information and annual reports, are not just bureaucratic formalities; they play a vital role in business transparency. The state uses them to ensure that the public, potential investors, legal bodies, and financial institutions have access to accurate and current information about your business.

Who Is Required to File?

If your business is registered with the California Secretary of State, chances are you’re required to file a Statement of Information. This includes:

• Corporations (both domestic and foreign)
• Limited Liability Companies (LLCs)
• Nonprofit corporations
• Professional corporations

Newly registered entities, whether they’re corporations, LLCs, or nonprofits, must file their initial Statement of Information within 90 days of registration. After that:

• Corporations must file annually
• LLCs and nonprofits must file every two years

There are no exemptions based on company size or revenue. Even if you’re a single-member LLC or a nonprofit with no paid staff, you still have a reporting obligation.

When Is the Statement of Information Due?

The filing deadline is based on your business’s California registration anniversary month, the month in which your business was officially formed or registered with the Secretary of State.

• Initial Statement: Due within 90 days of formation or registration.
• Subsequent filings: Due by the last day of your anniversary month each year (for corporations) or every two years (for LLCs and nonprofits).

You can file the Statement of Information up to five months before the due date, which gives you some flexibility to get ahead of your deadline and avoid last-minute stress.

What Information Is Needed to File?

Filing the Statement of Information is relatively straightforward, but you’ll want to ensure that your details are accurate and up to date. You’ll need to include:

• The legal name of your business as registered with the state
• Your California Secretary of State entity number
• The principal business address and mailing address
• The names and addresses of the entity’s officers (for corporations), managers or members (for LLCs), or directors (for nonprofits)
• The name and physical address of your registered agent (also called an agent for service of process)
• A brief description of your business’s primary activity

Even if no information has changed since your last filing, you are still required to submit a report during the applicable filing period.

Filing Fees

Here’s what you can expect in terms of cost:

• Corporation (Form SI-550): $25
• LLC (Form LLC-12): $20
• Nonprofit (Form SI-100): $20
• Late Fee: Up to $250 if not filed on time

These fees, including those for annual reports, are payable to the California Secretary of State and are non-refundable. Most businesses file online through the Secretary of State’s BizFile online portal, but you can also file by mail or in person.

What Happens If You Don’t File?

Failing to file your Statement of Information can have serious and expensive consequences for your business:

• Penalty fees: You may be subject to fines up to $250 per missed filing.
• Loss of good standing: The state can label your business as ‘delinquent’ or ‘not in good standing,’ which may limit your ability to raise capital, renew licenses, or enter into contracts.
• Administrative dissolution: The state can dissolve your entity, meaning your business loses its legal rights to operate in California.
• Reinstatement process: If your business faces suspension or dissolution, you must catch up on all overdue reports, pay penalties, and sometimes reapply for business status, costing you time, money, and peace of mind.

The bottom line: timely filing is critical to keeping your business active and legally protected.

Stay Compliant with Scout Financial

At Scout Financial, we specialize in helping California business owners stay compliant and confident. Whether you’re managing a startup, a nonprofit, or a multi-state enterprise, we handle the entire Statement of Information filing process accurately and on time.

Our team helps you:

• Understand your filing deadlines and obligations
• Gather and review the necessary documents
• File online or by mail with the California Secretary of State
• Avoid costly late fees and compliance issues

We take the guesswork and stress out of compliance so you can focus on what really matters—growing your business.

Let Scout Financial handle your annual reports in California—fast, accurate, and hassle-free.