Virginia Annual Report
What is a Virginia Annual Report?
The Virginia annual report is a filing that certain business entities make to the Virginia State Corporation Commission to change or update entity information on record, such as director or officer names. Filing the annual report keeps a business in good standing with the state of Virginia.
Virginia’s annual report for businesses discussed here should not be confused with the annual reports produced by businesses for their investors or shareholders that contains business expenditures and activities.
No matter how big or small an LLC or corporation may be, there will either be a requirement to file a Virginia annual report or pay the Virginia annual registration fee, or both.
What is a Virginia Registration Fee?
The Virginia annual registration fee is a payment that certain business entities must make every year to the Virginia State Corporation Commission to stay in compliance with the state of Virginia.
Quick Summary
- What a Virginia Annual Report Looks Like For an LLC
Virginia LLCs are not required to file an annual report. However, Virginia LLCs are required to pay the annual registration fee, which is currently $50 and due at the end of the LLC’s anniversary month, starting the year after formation. Failure to pay this fee on time will lead to a $25 penalty, and the LLC no longer being in good standing with the state. - What a Virginia Annual Report Looks Like For a Corporation
Virginia corporations are required to both file an annual report as well as pay the annual registration fee. The registration fee varies based on the number of authorized shares, and is due at the end of the corporation’s anniversary month, starting the year after formation. Failure to pay this fee on time will lead to a penalty of 10% of the corporation’s total annual registration due or $10 (whichever is greater), and the corporation no longer being in good standing with the state.
More Virginia Annual Report Information
Use these links to jump ahead and find more detailed information regarding Virginia annual compliance:
- What is Contained in a Virginia Annual Report?
- When Do I File my Virginia Annual Report?
- How Do I File my Virginia Annual Report?
- Is There an Annual Report Filing Fee?
- How Much is the Annual Registration Fee?
- Who Can File the Virginia Annual Report?
- What If I Forget to File?
- Does Virginia Require an Initial Report As Well?
What is Contained in a Virginia Annual Report?
Your registered agent will receive a pre-printed Virginia annual report form from the Virginia State Corporation Commission with your corporation’s current information. The information found on the report that you will need to verify or update typically includes the following:
- Corporation name
- SCC (State Corporation Commission) ID number
- Registered agent information
- Number of authorized shares
- Principal office address
- Director and officer information
When Do I File my Virginia Annual Report?
Your annual report is due on or before the last day of your corporation’s anniversary month every year, starting the year after you incorporate. The annual report should be filed alongside the annual registration fee. If you’d like to file your annual report early, you can do so no earlier than 3 months before the due date.
If you need to double-check your corporation’s anniversary month, you can look it up on the Virginia State Corporation Commission website.
How Do I File my Virginia Annual Report?
You can file your Virginia annual report online at the Virginia State Corporation Commission website’s CIS (Clerk’s Information System), or by postal mail. We recommend filing online—it’s the quickest, most secure method. You can pay your annual registration fee online or by postal mail as well, using different forms in the CIS.
If you choose to file by mail, you can use the pre-filled form that is automatically sent to your registered agent, or request a form online or by phone to have sent over to your registered agent.
Virginia State Corporation Commission
PO Box 1197
Richmond, VA 23218
Telephone: (804) 371-9733 or (866) 722-2511
Email: [email protected]
Is There an Annual Report Filing Fee?
The Virginia annual report itself does not have an associated fee. There is a separate annual registration fee due alongside the annual report for corporations, however.
Please note: The annual registration fee applies to LLCs as well, although LLCs do not need to submit an annual report.
How Much is the Annual Registration Fee?
The Virginia annual registration fee varies depending on the business entity type.
For LLCs, the annual registration fee is a flat $50.
For corporations, the annual registration fee varies based on the number of authorized shares:
For each additional 5,000 shares, the fee increases by $30, with a maximum fee of $1,700.
Who Can File the Virginia Annual Report?
Any corporation member or anyone who is authorized by the corporation to do so can file the Virginia annual report.
What if I Forget to File?
If you fail to file your annual report and/or pay your annual registration fee on time, you will incur a penalty and fall out of good standing with the state of Virginia, which can eventually lead to the business’s dissolution.
The penalty fee for LLCs who do not pay the registration fee on time is $25 and falling out of good standing with the state of Virginia.
The penalty for corporations who do not pay the registration fee on time is 10% of the corporation’s total annual registration due or $10 (whichever is greater). If the corporation also does not file the annual report, the corporation will fall out of good standing with the state of Virginia.
Does Virginia Require an Initial Report As Well?
No. Corporations don’t need to file an initial report within a certain time frame after incorporation in Virginia.
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