Pennsylvania recently made major changes to its business corporation law statute governing numerous entities, including nonprofit corporations. The impacted provisions are in Title 15 and Title 54 of Pennsylvania’s Consolidated Statutes. New reporting requirements must be followed every year, regardless of whether officers have changed. A few other key requirements include:
- New due date (depends on entity type)
- Can now be used to change registered office address
- Still no fee for nonprofit corporations
- Consequences for non-filing are administrative dissolution
- No more decennial filing requirement
The administrative dissolution rule is being phased in over a three-year period and applies first to annual reports due by the July 1, 2027 deadline. There will also be a six-month grace period after the deadline. This rule should not be confused with the IRS’s revocation rule where three consecutive years of non-filing triggers revocation of an organization’s tax-exempt status.