What is a New Mexico Biennial Report?
One of the requirements of maintaining a corporation in New Mexico is filing a Biennial Report. The Biennial Report is used to confirm and update the company’s information each year with the Secretary of State. Limited Liability Companies (LLCs) aren’t required to file a Biennial Report.
Related: How to start an LLC in New Mexico
Who Needs to File a Biennial Report?
Domestic and foreign corporations are required to file a biennial report every other year after the year the company was formed.
What is Needed to File a New Mexico Biennial Report?
Filing the Corporation Biennial Report may only be done online through the New Mexico Secretary of State’s website, otherwise, you can download and fill out the Biennial Report.
The report asks for information such as:
- Business name
- State identification number
- Company address
- Contact information for the Registered Agent
- Name and address of the Corporation’s officers and directors
New Mexico Biennial Report Cost
The Biennial Report filing fee for a Corporation in New Mexico is $25.
Biennial Report Due Date
The Biennial Report deadline is the 15th day of the 4th month after the end of the Corporation’s taxable year. Most Corporations use the calendar year as their taxable year, meaning the end of their taxable year is December 31st, which would make the deadline April 15th. Filing is determined by the Business ID assigned by the Secretary of State. If your Business ID number is an even number, your Corporation will file every even-numbered year. Odd-numbered Business IDs file on odd-numbered years.
The Secretary of State’s office emails a reminder in advance of the Biennial Report due date. Even though a reminder is sent, it’s important to make an additional reminder for yourself should you not receive it.
Annual Report Filing Service
If you would rather use a service that guarantees the annual report is filed on-time, check out the annual report filing service through Northwest.My business made little or no money. Do I still have to file the Biennial Report?
Even if your New Mexico Corporation received no income or had no business activity, the Biennial Report is still required to be filed.
What happens if you don’t file the Biennial Report on time?
If the Biennial Report isn’t filed on time, a $200 penalty is assessed. If the report isn’t filed by August 5th, the entity will be administratively dissolved by the Secretary of State.
New Mexico Secretary of State Contact Information
New Mexico Secretary of State
325 Don Gaspar, Suite 300
Santa Fe, NM 87501
If you have questions, they can be contacted at (800)-477-3632.
