States require companies that are registered to do business with them to file a report every year (or in some states, every two years). The annual report gives the governing state updated information on the directors or managing members of a corporation or LLC as well as current addresses. 

These reports are typically filed electronically. These reports are separate from your registered agent fee. 

Failing to file an annual report by the due date can result in revocation of your company’s good standing and therefore lead to loss or inability to renew your contractor’s license.