While it may seem unnecessary to file an initial report for LLC, Non-Profits and Corporations so soon after submitting the formation documents, it allows the business to have a little extra time to make some important decisions. Perhaps the business location hasn’t been finalized or the officers still need to be elected; the initial report filing buys the business owners some time to work out the small details that the state still needs to be aware of Initial reports typically include:
✅ Business activities since obtaining corporate status
✅ Current business address
✅ List of members, officers and directors
✅ Name and address of company’s registered agent
✅Other financial information (requirements vary from state to state)