A company’s annual can take on various meanings depending upon the context. 

Publicly Traded Company Form 10-K (Annual Report). The Form 10-K is an annual report filed by certain reporting companies with the U.S. Securities and Exchange Commission (SEC). Publicly traded companies account for most of the Form 10-K filings. However, the 10-K reporting requirement also applies to non-publicly traded companies with more than $10,000,000 in total assets and either 2,000 or more investors or 500 or more persons who are not accredited investors. 

The information contained in the Form 10-K generally includes the following topics:

  • Information on the business, risk factors, SEC staff comments, cybersecurity, significant properties and other physical assets, legal proceedings, and mine safety disclosures (if applicable). 
  • Market considerations, financial data, management discussion & analysis (MD&A), quantitative disclosures, financial statements, controls, other procedures, and other information.
  • Information on the company officers and directors, executive compensation, security ownership of certain beneficial owners, related party transactions, director independence, and principal accounting fees and services. 

Limited Liability Company (LLC) Annual Report. The LLC annual report is a document filed with the relevant state authority each year to maintain good standing. Most states will also require a filing fee to keep the entity open. 

The information required in annual reports varies by state. For example, Delaware LLC annual reports require the current name of the LLC, its registered agent, and an annual filing fee of $300 (as of 2024). A Florida LLC annual report requires the name of the LLC, registered business address, registered agent, and the names and addresses of the LLC managers and members. The Florida LLC annual report fee is $138.75 (as of 2024).

Non-Profit Organizations Annual Report. Most tax-exempt Section 501(c)(3) organizations have various annual reporting requirements. Tax-exempt entities in the U.S. generally file a Form 990 (Return of Organization Exempt from Tax) with the IRS, and they prepare a publicly available annual report for their donors, charitable beneficiaries, and other stakeholders.

The non-profit organization’s annual report will generally include the following information:

  • Message from the Chief Executive Officer (CEO)
  • Information on the various charitable programs
  • Information on the non-profit leadership, including the board of directors, senior staff and advisory boards, partners, and other ambassadors
  • Financial statements with a separate statement of functional expenses