Annual returns are forms that keep your business's information—its name, address, managers, etc.—up to date with the state. They must be filed with the registrar of companies every year—in some states, every two or ten years. The name, definition, and scope of the reports can vary, but most states require businesses to file them on a regular basis.

Generally, limited liability companies will need the most current name and address of the company, its registered agent, and its managers. Corporations usually need to list officers and directors, and may also need stock information.

You could lose your good standing with the state and need to pay late fees. If you fail to file completely, you might face the administrative dissolution of your company. The state will no longer recognize your company as a legal entity, which could affect contracts, hurt business relationships, and expose you to personal liability.

It can vary, but here are some common names: Statement of Information, Public Information Report, and Biennial Statement.