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Welcome to the Annual Report Video Lesson. What is an Annual Report? The Annual Report is used to keep your business records updated with the Division of Corporations. An Annual Report must be filed each year for your business to maintain an active status. The Annual Report is required each year what do you need to make changes or not. When is the Annual Report due? The report must be filed every year and it is due between January 1st and May 1st. A non-negotiable $400 late fee is imposed if you forget to file your Annual Report by May 1st. If this is your first year filing an Annual Report, Annual Reports are due between January 1st and May 1st of the calendar year following the year of formation. For example, if your LLC was formed on April 1st 2010, your first Annual Report would be due between January 1st and May 1st of 2011. How much does the report cost? If youre LLCs Annual Report is filed before May 1st, the fee is $138.75. If you file after May 1st, you will be charged the