I’ve written a lot about IRS Form 990 on this blog, but all nonprofits organized in Iowa or authorized to business in the state also need to file a Biennial Report with the office of the Iowa Secretary of State. The report is required under Iowa Code §504.1613.
The report is pretty basic and is essentially entity information updates of which the Iowa Secretary of State’s office records. Report requirements vary by state, so I’ve laid out all the basics below!
When is my nonprofit’s Biennial Report due?
Biennial Reports should be submitted between January 1 and April 1 in odd-numbered years (like this one, 2019!). An organization’s first Biennial Report is due on the first odd-numbered year following the calendar year of formation. So, if your nonprofit was formed (meaning you submitted articles of incorporation) in October 2019, the first Biennial Report would be due by April 1, 2021.
Does someone have to sign it? Does it need to be notarized?
Yes; someone with authority in the organization should sign it (such as the president of the board of directors), however, original signatures are not required. Notarization is also not required.
What information is included in the biennial report?
The statute requires the following information be reported. (Note that a nonprofit is still a “corporate” entity, even though we don’t typically refer to nonprofit organizations like corporations.):
- Name of the corporation
- State or country under whose law the nonprofit incorporated
- Address of the corporation’s registered office
- Name of the corporation’s registered agent at that office in Iowa
- Consent of any new registered agent, if applicable
- Address of the corporation’s principal office
- Names and addresses of the president, secretary, treasurer, and one member of the board of directors
- Whether or not the corporation has members
The information on the Biennial Report should be related to the two-year period immediately preceding the calendar year in which the report is filed.
Is there a form?
Yes, there is a form you can file online or by mail. You will need both the corporation number and a temporary code to begin the filing process. Each corporation’s registered agent will receive a Biennial Report notice in early January.
Does it cost money?
Unlike the costs for LLCs or for-profit corporations, for nonprofit corporations, the filing fee is $0.
Other Considerations
While you’re thinking about reporting, once you have the Biennial Report submitted turn your attention to Form 990. Do you know which version you can submit? Do you need to adopt any beneficial policies and procedures to boost your filing (and amplify good governance and successful operations in your organization)?
Don’t hesitate to contact me with questions about any forms and reporting. It can seem like a pain at first, but the more prepared you are and the more knowledge you have, the faster you can get back to work, forwarding your mission.
