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. LLCs aren’t required to file a Biennial Report.
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:
- Legal name of the entity
- Company address
- Contact information for the Registered Agent
- Name and address of the Corporation’s officers and directors
Biennial Report Cost
The cost to file a Biennial Report for a Corporation in New Mexico is $25.
The Biennial Report is due by 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. 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.
My business made little or no money. Do I still have to file the Biennial Report?
Even if your 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.