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Biennial Statement (New York: What It Is And How It Works)

What is a Biennial Statement?

How do you file a NY biennial statement?

What are the essential elements you should know!

Keep reading as I have gathered exactly the information that you need!

Let me explain to you how biennial statements work in New York in detail!

Are you ready?

Let’s get started!

What Is A Biennial Statement

A biennial statement is a legal document that corporations and limited liability companies are required to file every two years with the state of New York to keep their business entity in good standing.

In New York, corporations are required to complete a biennial statement form every two years by the end of the registration anniversary month.

Under Section 408 of the Business Corporation Law, domestic and foreign business corporations are required to file a Biennial Statement every two years with the New York Department of State (DOS).

Similarly, under Section 301(e) of the Limited Liability Company Law, LLCs are required to file a Biennial Statement every two years with the NY DOS.

How Biennial Statements Work In New York

Let’s look at how biennial statements work in New York.

Purpose 

The purpose of the biennial statement is to ensure that the LLC or corporation’s information on record with the NY Department of State is accurate and up to date.

In most states, companies have an obligation to file annual reports where they must update their business entity information every year.

However, in the state of New York, the requirement for corporate entities and LLC entities is to file the information every two years.

Biennial Filing

A biennial filing refers to the documents that corporations, LLCs, or other business entities are required to file with the Secretary of State or similar agencies in the United States. 

In the state of New York, corporate entities and LLCs are required to perform a biennial renewal of their company registration.

Content

A biennial registration will contain the following information about a corporation or LLC:

  • Name and address of the company CEO 
  • The street address of its principal executive office
  • The address to which the NY Secretary of State can forward legal process to the company
  • The number of directors forming the board and how many are women

Due Date

Corporations and business entities must file their “biennial statement” by the end of the entity’s registration anniversary month.

For instance, if you incorporated a company in New York on April 15 this year, then your biennial statement will be due by end of April two years from now.

Biennial Fee

At the moment of the writing of this post, the biennial statement fee is $9.00.

You can pay your biennial fees by using the biennial statement online service offered by the Department of State.

Who Needs To File A Biennial Statement in NY

Who needs to file a biennial statement in New York?

Domestic and foreign corporations along with domestic and foreign limited liability companies are required to file a biennial statement in New York under the applicable state law.

On the other hand, non-profit corporations and partnerships are not required to perform a biennial statement filing with the state.

Whether your business is earning an income or not, you must file your biennial statement to maintain your company in good standing.

If a corporation or LLC fails to file a biennial statement by the applicable due date, the business entity will lose its good standing status with the state of New York and can eventually be administratively dissolved.

How To File A Biennial Statement In New York

Let’s see how you can file your New York Biennial Statement.

Biennial Statement Online Filing

Corporations and limited liability companies have the option of filing their Biennial Statment using the online tool offered by the state of New York called the e-Statement Filing Service.

You can use the NY biennial statement online filing tool from Monday to Friday from 6:00 a.m. to 7:30 p.m.

As such, you can complete your company’s information online and pay the biennial fee of $9.00 using MasterCard, Visa, or American Express.

You’ll need to have your Department of State company ID Number to be able to use the e-filing services (if you don’t have it, you can find it by searching through the NY Corporation and Business Entity Database).

Steps To File Biennial Statement

Here are the steps to fling your NY Biennial Statement:

  • Go to the NY e-Statement Filing Service
  • Enter your company’s ID Number
  • Enter your company name
  • Update any information that needs to be updated
  • Enter your name (as the applicant)
  • Pay biennial statement online using your credit card 

Service Providers

If you do not have the time to manage your company’s biennial statement filing or want to outsource this task, you can hire different service providers who offer such filing services.

There are registered agents that can offer filing services along with other companies specialized in filing business entity documentation in all states.

New York Biennial Statement Resources

Here are some relevant links, information, and resources to help you with your corporation or LLC biennial statement in New York.

New York Department of State Contact Information:

New York Department of State
Division of Corporations, State Records & UCC
99 Washington Avenue 6th floor
Albany, NY 12231
Tel: 518-474-1418
Author

Biennial Statement Takeaways 

So there you have it folks!

What is biennial statement?

What is a biennial statement filing? 

How does it work?

A New York Biennial Statement is a legal document or form you must file every second year with the New York Division of Corporations to ensure your business information is kept up-to-date and your company remains in good standing.

All corporations and LLCs are required to file the Biennial Statement NY.

In this post, I have provided you with the essential information you need to be able to file your biennial statement form with the NYS.

Good luck!

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Now, let’s look at a summary of our findings.

Biennial Statement Meaning Overview

  • A New York State biennial statement refers to a document that foreign and domestic corporations and LLCs are required to file with the New York Department of State every two years
  • The objective of the “biennial” statement is to ensure that your business entity’s information with the NYS is kept up-to-date and accurate
  • You can file your NY biennial statement using the online tool offered by the NY DOS
  • If you don’t file your statement every two years, your business entity will fall out of good standing and may eventually be administratively dissolved 
Annual report 
Articles of association
Articles of cooperation 
Articles of incorporation New York
Articles of organization New York
Business license New York
Bylaws definition 
Certificate of status 
Domestic corporation New York
Domestic LLC New York
Double taxation 
EIN number lookup 
Foreign corporation New York
Foreign LLC New York
Form SI-550
Form SI-550NC
LLC-5 Form 
LLC-12 Form
LLC New York
New York LLC search
NYS corporate search 
NY business express 
Stock certificates
Author
Business name
Business plan 
California SOS
C-Corp vs S-Corp
C-corporation 
Certificate of filing 
Certificate of formation 
Close corporations
De facto corporation 
Delaware corporation
Form LLC-12
Form SI-100
Form SI-550
Meeting minutes 
Operating agreement 
Pass-through taxation 
Professional corporation 
Registered agent 
Reincorporation 
S Corp vs LLC
S-corporation
Shareholder agreement 
Social security number
Statement of information 
Unincorporated business
Author
Editorial Staff
Hello Nation! I'm a lawyer by trade and an entrepreneur by spirit. I specialize in law, business, marketing, and technology (and love it!). I'm an expert SEO and content marketer where I deeply enjoy writing content in highly competitive fields. On this blog, I share my experiences, knowledge, and provide you with golden nuggets of useful information. Enjoy!

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