The Pennsylvania Department of State, under Act 122, will now require businesses to file an annual report. Act 122 repealed Pennsylvania’s traditional decennial corporate filing requirements and replaced them with new annual reporting obligations. Beginning in 2024, entities must file their corporate reports annually with the Pennsylvania Department of State (“PA DOS”) or face future administrative repercussions. This change will have lasting impacts for business entities in Pennsylvania.
Below are answers to some frequently asked questions about this new requirement: