Who Needs to File an Annual Report in Kentucky?
Most entities operating in Kentucky, including corporations, limited liability companies (LLCs), and nonprofits, are required to file an annual report with the Kentucky Secretary of State. The filing ensures compliance with state laws and helps maintain the active status of the business. This requirement applies to both domestic companies based in Kentucky and foreign entities that have qualified to do business in the state.
What Happens If I Don't File?
Not filing an annual report can have serious consequences. The state may impose penalties or late fees, and continued failure to file could lead your business entity being completely dissolved. This means your company could lose its legal standing, affecting your ability to operate, enter into contracts, or access the courts for legal action. As a result, you could lose your business altogether.