What Is a Michigan Annual Report for a Corporation?
A Michigan annual report for corporations is a required filing that is necessary to keep your business in good standing with the state. The Michigan Department of Licensing and Regulatory Affairs (LARA) requires corporations to file this report to update the state on any changes in key business information, such as the registered agent, principal office, and officers or directors.
Unlike financial reports, the Michigan annual report does not require you to disclose profits, revenue, or other sensitive financial data. Instead, it functions as a compliance measure to maintain transparency and accurate public records. For most corporations, this filing is due by May 15 each year, regardless of when the business was formed.
Note: The May 15 deadline applies to corporations. Limited Liability Companies (LLCs) in Michigan must file their annual statements by February 15 each year.
The filing fee is currently $25, and reports can be submitted online, by mail, or in person. Missing the deadline can result in late fees, administrative penalties, or even dissolution of your corporation, meaning the state could revoke your business’s legal authority to operate. That’s why timely filing is not just good practice but a legal necessity.
Key details included in a Michigan annual report typically are:
- Corporation name and ID number
- Registered agent and registered office address
- Principal business address
- Names and addresses of officers and directors
Filing your annual report helps your corporation maintain its good standing status with the state and demonstrates ongoing business activity to stakeholders. For corporations that are in the stage of extending an undertaking, getting loans, or participating in tenders, it is especially crucial to regularly file reports to keep the status of good standing.
Professional service providers like OneIBC USA can simplify compliance management by assisting with annual report filings, registered agent services, and other state requirements. This helps ensure your business remains compliant and well-positioned for growth.
