This year, Pennsylvania and the federal government have both made important changes that affect reporting obligations for businesses. Beginning in 2025, most PA businesses will need to file an annual report with the state. Some businesses will also have to meet new federal requirements for reporting beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN).

These are separate obligations, but both are important to understand so you can stay compliant and avoid unnecessary problems.

Pennsylvania Annual Reports

Starting January 1, 2025, Pennsylvania will require most registered businesses to submit an annual report to the Department of State. This replaces the older system where certain filings were only required once every ten years.

Who Has to File?

The requirement applies to corporations, limited liability companies, limited partnerships, limited liability partnerships, limited liability limited partnerships, business trusts, professional associations, and most other registered entities.

What are the deadlines to file?

New businesses will file their first report the year after they register in Pennsylvania.

What information is reported?

The annual report is informational. It will include your business name, Pennsylvania entity number, jurisdiction of formation, registered and principal office addresses, and the name of at least one person who has authority over the business such as a director, manager, or partner. It will also ask for the names and titles of your principal officers if applicable.