Annual Report and Filing
Corporations
A corporation duly organized or authorized to do business in Puerto Rico must file an annual report with the Puerto Rico Department of State (www.estado.pr.gov) by electronic means on or before April 15 of each year. The annual fee is $150 applicable to for-profit domestic and foreign corporations. The cost of amendments and dissolutions range between $20 and $80. A 90-day extension is granted upon application.
The annual report includes the:
- Full legal name of the corporation, physical and postal address
- Name of the resident agent, physical and postal address
- Nature of operations
- Number and classes of authorized capital stock, including any conditions, limitations and restrictions of stock, if any
- Terms of existence
- Corporation balance sheet
A corporation with gross sales above $10,000,000 is required to issue financial statements audited by a licensed Puerto Rico Certified Public Accountant. The audited balance sheet of the Puerto Rico operation is due upon filing.
The penalty for late filing is $750.
Corporations must maintain adequate support and accounting books readily available, including details of income and expenses, local investments, capital expenditures, and transfer pricing support, if applicable.
Limited Liability Companies and Partnerships
A Limited Liability Company (LLC) or Partnership organized or registered to do business in Puerto Rico is required to pay the annual fee of $150 on or before April 15 of each year. The fee to form an LLC in Puerto Rico is $250.
Non-profit Entities
A Nonprofit Entity organized or registered to do business in Puerto Rico is required to pay an annual fee of $5 on or before April 15 of each year.
The penalty for late filing is $75.