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Annual Financial Statements

Medical marijuana and adult-use licensees must file a financial statement every three years, or a shorter time-period as determined by the CRA.  See Rule 20 of the Marijuana Licenses rule set – R 420.20 and/or Section 701 of the Medical Marihuana Facilities Licensing Act.

The financial statement is referred to as the Annual Financial Statement (AFS), the requirements of which are released every fiscal year (FY).

  • FY23 – Information outlining the requirements and due dates of FY23 will be coming soon and will be announced by bulletin.  The AFS will be combined with all licenses being reported in one report, rather than separate for each licensing program.
  • FY22 – An annual report is not required for FY22 unless a licensee is required to file a FY22 report as a condition of a final order.  For further information see this bulletin.

AFS reports due for FY20 and FY21 must be submitted to CRA-AFS@michigan.gov.  Questions regarding the AFS may also be directed to CRA-AFS@michigan.gov or by phone at 517-284-8599.

Additional Resources

CRA has released additional resources that may be of assistance to licensees regarding their annual financial statements.

November 17, 2021 CRA Financial Compliance Education Session with Grapp Lerash CPA  & (Downloadable PDF)

Accounting and Recordkeeping Best Practices Bulletin

Frequently Asked Questions