May 2, 2012 - The Michigan Department of Licensing and Regulatory Affairs (LARA) Bureau of Commercial Services (BCS) announced today that 2012 annual reports for profit corporations and professional service corporations have been mailed to resident agents of record with the BCS Corporation Division. These corporations are required to file the annual report by May 15 of each year.
Section 911 of the Michigan Business Corporation Act (BCA), Public Act 284 of 1972, effective January 1, 1973, provides that all domestic corporations and foreign corporations authorized to transact business in Michigan are required to file an annual report each year. In addition, Section 15 of the Michigan Professional Service Corporation Act, Public Act 192 of 1962, effective March 28, 1963, requires professional corporations to file an annual report listing all of the corporation's shareholders. Annual reports must be filed no later than May 15 of each year and can be filed online at www.michigan.gov/fileonline.
Section 921 of the BCA provides that if a domestic or foreign corporation neglects or refuses to file a report or pay a fee required by this act within the time specified, the corporation, in addition to its liability for the fee, is subject to a penalty of $10.00 for each month or part of a month that the corporation is delinquent, not to exceed $50.00.
Finally, section 922 of the BCA provides that if a corporation fails to file its annual report and filing fee for two years, the corporation will be automatically dissolved 60 days after the expiration of the two-year period.
A corporation that has been automatically dissolved is not entitled to a certificate of good standing; its corporate name will be available for use by another entity, and no document will be filed on behalf of the corporation.
For more information about LARA, please visit www.michigan.gov/lara
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