Do Nonprofits Need to File Annual Reports in Arizona?

By August 14, 2020 Nonprofit
Do Nonprofits Need to File Annual Reports in Arizona?

In Arizona, all corporations—including nonprofit corporations—are required to file Articles of Incorporation with the Arizona Corporation Commission to form the entity. But are nonprofit organizations required to do anything after filing the Articles of Incorporation?

Nonprofit organizations must file an annual report with the Arizona Corporation Commission. According to Arizona Revised Statues section 10-1622, each corporation that the state has authorized to do business within its borders, whether domestic or international, must file a report annually with the Corporation Commission that contains the following:

1. The name of the corporation and the state or country under whose law it is incorporated.

2. The address of its known place of business and the name and address of its statutory agent in this state.

3. The address of its principal office.

4. The names and business addresses of its directors and principal officers.

5. A brief description of the nature of its business.

6. The total number of authorized shares, itemized by class and series, if any, within each class.

7. The total number of issued and outstanding shares, itemized by class or series, if any, within each class.

8. A certificate of disclosure containing the information set forth in section 10-202, subsection D. [Which is where one finds requirements about important individuals in the governance of the corporation that must be reported in the Articles of Incorporation.]

9. The names of shareholders of record of the corporation holding more than twenty percent of any class of shares issued by the corporation, including persons beneficially holding the shares through nominees.

10. A statement that all corporate income tax returns required by title 43 have been filed with the department of revenue.

The due date for such reporting is the anniversary of the date of incorporation.

If the organization does not file an annual report, then it will be sent a Notice of Pending Administrative Dissolution approximately 90 days after the deadline for filing the report. If the corporation still does not file the annual report, the corporation will be administratively dissolved. If the corporation is administratively dissolved then it will have 6 years to file for reinstatement and will have to pay a reinstatement fee.

Deadlines for filing an annual report can easily be forgotten. It is important to take steps to remember to file the annual report to keep your nonprofit corporation in good standing.

When a church, ministry, or other nonprofit organization in Arizona needs advice or legal aid regarding the laws surrounding confidentiality, Provident Law’s church and nonprofit attorneys are here to help. We recognize how essential these organizations are to society, and we provide broad transactional and general counsel services to keep them running smoothly. Contact us to learn more.