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Annual Financial Statements

The Cannabis Regulatory Agency (CRA) requires that licensees of medical marijuana or adult-use facilities file a financial statement every three years, or a shorter time-period as determined by the CRA. Rule 20 of the Marijuana Licenses rule set – R 420.20, requires marijuana establishments to file an annual financial statement in the time and manner instructed by the CRA. The CRA intends to revise the AFS report forms and combine the AFS requirements for medical and adult-use licensees into a consolidated report for future reporting periods. In the interim, requirements for the AFS are as follows:
  • An AFS will not be required for fiscal year 2022, unless a licensee is required to file a fiscal year 2022 report as a condition of a final order.
Questions regarding the annual financial statement process can be directed to CRA-AFS@michigan.gov or by phone at 517-284-8599.
 
Medical Annual Financial Statements
Medical Annual Financial Statement FY 2021
Medical Annual Financial Statement FY 2020
Confirmation of Section 701 Compliance
 
Adult-Use Annual Financial Statements
Adult-Use Annual Financial Statement FY 2021
 
Supporting Documents
CPA Attestation of Practice Authority (required)
Contact Authorization Form (required)
Removal of Contact Authorization Form
 
Additional Resources
CRA has released various bulletins and FAQs that may be of assistance to licensees regarding their annual financial statements.
Bulletins
Frequently Asked Questions