Pennsylvania Act 122 Explained
Your comprehensive guide to understanding PA's new annual report requirement and what it means for your business
What is PA Act 122?
Pennsylvania Act 122 of 2022 is landmark legislation that requires most Pennsylvania business entities to file annual reports for the first time in the state's history. This brings Pennsylvania in line with nearly every other state in the nation.
Timeline & Implementation
- 2022:Act 122 signed into law by Governor Tom Wolf
- 2023-2024:Implementation period for Pennsylvania Department of State
- 2025:First annual reports due: June 30 (Corp), September 30 (LLC), December 31 (Other)
- Ongoing:Annual filing required every year by entity deadline
Key Provisions of Act 122
Filing Requirements
- • Annual filing by April 15th
- • Online filing system
- • $10 state filing fee
- • Update entity information
- • Confirm registered agent
- • List officers/members
Penalties & Enforcement
- • 30-day grace period (until May 15)
- • $125 initial late penalty
- • $10/month additional penalty
- • Loss of good standing
- • Potential dissolution
- • Cannot file other documents
Who Must File Under Act 122?
✓ Required to File
- • Domestic Limited Liability Companies (LLCs)
- • Domestic Corporations
- • Domestic Limited Partnerships
- • Domestic General Partnerships
- • Foreign LLCs registered in PA
- • Foreign Corporations registered in PA
- • Professional Associations
- • Limited Liability Partnerships
✗ Exempt from Filing
- • Sole Proprietorships
- • Fictitious Names (DBAs)
- • Most Non-Profit Organizations
- • Entities in active dissolution/liquidation
Information Required in Annual Report
Each annual report must include current information about:
Entity Information
- • Legal entity name
- • Entity ID number
- • Formation date
- • Business purpose
Addresses & Contacts
- • Principal office address
- • Registered agent name & address
- • Officer/member names & addresses
- • Contact information
Why Did Pennsylvania Pass Act 122?
Maintain Accurate Records
Ensures the state has current information about active businesses
Generate Revenue
Modest fees help fund state operations and business services
Join National Standards
Pennsylvania was one of the last states without annual reports
Improve Transparency
Public access to current business information
Don't Wait Until the Last Minute
File your Pennsylvania annual report early to ensure compliance
Professional PA Annual Report Filing
Expert Preparation
We ensure all information is accurate and complete
Same-Day Filing
File immediately to meet deadlines
Avoid Penalties
Protect against $125+ in late fees