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PR Department of State Further Extends Deadline for Filing Corporate Annual Reports

An McV Corporate Alert

October 30, 2020

As a result of the ongoing COVID-19 emergency, the Secretary of State issued Administrative Order No. 2020-09 (“AO 2020-09”). AO 2020-09 extends the filing deadline for Corporate Annual Reports until January 15, 2021.

AO 2020-09 includes the extended deadlines for informative and/or income tax returns and establishes the following:

Corporations:

  • The extension applies to all corporations that have submitted an additional extension request and paid the corresponding fees, including the additional extension filing fee. A penalty fee will not be imposed.
  • Entities that have not requested an additional extension must do so prior to November 6, 2020.
  • Those corporations that have not requested extensions (for the first or second time), must request both prior to November 6, 2020.
  • The amnesty period applies only to active corporations.
  • The amnesty period runs from November 6, 2020 until December 31, 2020.
  • The penalty relief applies only to Corporate Annual Reports with filing dates prior to 2019.

Limited Liability Companies (LLCs):

  • The penalty relief applies to the annual filing fees for 2019 and prior years.

Corporations or LLCs covered by payment plans

  • The amnesty applies to the entity’s pending balance under a payment plan, provided that the payments made by the entity cover all the corporation’s Annual Report fees or the LLC’s annual fees, as the case may be.

 You can access AO 2020-09 here.

The content of this McV Alert has been prepared for information purposes only. It is not intended as, and does not constitute, either legal advice or solicitation of any prospective client. An attorney-client relationship with McConnell Valdés LLC cannot be formed by reading or responding to this McV Alert. Such a relationship may be formed only by express agreement with McConnell Valdés LLC.

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