In North Carolina, an annual report is a regular filing that your business must complete every year to update your business information, including:
Registered agent name and Address
Names and addresses of company members and officials
The Purpose of this report is to keep your business records up to date with the State of North Carolina. This allows creditors and other interested parties to look up your business address in case they need to contact you. The government uses this information to track the payment of your business taxes.
Each business entity has its own due dates for filing the annual report which depends on the type of business entity your company is. The chart below explains the due dates by entity.
Administrative Dissolution occurs when North Carolina Business entity has failed to perform any of several duties described in statute. A similar process called administrative revocation is applicable to entities formed in other states or countries (foreign companies). Once an entity is administratively dissolved, it may apply to the Secretary of State for reinstatement (or requalification, in the case of foreign entities). The entities must submit an application and correct all reasons that led to the dissolution or else prove to the Secretary that the grounds do not exist.
You can expect to wait between 7 and 10 business days for your reinstatement request to be processed. However, if you pay a $200 fee and submit your documents by noon, your reinstatement request can be processed on the same day that it is submitted. While documents can be processed in 24 hours for a $100 fee, processing can take longer if you file on a weekend or holiday.