Nevada has a fairly unique compliance requirement that all foreign for-profit and nonprofit corporations need to be aware of.
They have to publish an annual statement in a Nevada newspaper. A failure to comply brings penalties. Here is what you need to know to stay compliant.
Expert note: The term “foreign corporation” in this context does not refer to another country. Instead, it refers to another U.S. state or jurisdiction where a corporation registers or qualifies to do business which is different from the corporation’s domestic state where it was incorporated.
What do I need to include in the annual statement?
The Nevada annual statement for foreign corporations is a statutory requirement pursuant to Nevada Revised Statutes §80.190 and it must include the following:
- Name of the corporation
- Name and title of the corporate officer submitting the statement
- Mailing or street address of the corporation’s principal office
- Mailing or street address of the corporation’s office in Nevada, if there is one
We have recently seen some newspapers request income and/or Registered Agent information in their Annual Statement Publication forms. The information we provided above includes all of the current statutory requirements. You will need to consult with counsel to determine whether the additional requested information is something you want to publish.
Where is the statement published?
This statement must appear in two (2) issues of any newspaper published in Nevada that has a total weekly circulation of 1,000 or more.
Expert note: The Nevada newspapers and publications that fit the circulation requirement typically have a form available on their website under the “Legal Publications” header. A quick internet search for “Nevada Annual Statement Publication” will provide you with several options for newspapers that will publish your statement. There is no statutory fee set for the publication and each company will set its own fees, so you can choose what’s right for your company and your bottom line.
