How to file a New Mexico annual report

New Mexico’s business compliance is unique: most business entities must file periodic reports, but the requirements vary sharply by entity type. Nonprofit corporations must submit annual reports, while for-profit corporations (domestic and foreign), limited partnerships (LPs), and limited liability partnerships (LLPs) file biennially. 

These filings update the Secretary of State with your company’s current principal address, leadership, registered agent, and business purpose, keeping your entity in good standing.

Who must file?

New Mexico’s reporting requirements depend on your business structure. Entities that must file include:

• For-profit corporations (domestic and foreign): Biennial report required every two years.
• Nonprofit corporations (domestic and foreign): Annual report required every year.
• Limited partnerships (LPs), Limited liability partnerships (LLPs), and similar entities: Biennial report required every two years.

On the other hand, entities that are free from this requirement include: 

• Limited liability companies (LLCs): No annual or biennial report required. They must maintain a current registered agent and address, but no recurring filings or fees.
• General partnerships and sole proprietorships: No annual or biennial report required.
• Foreign entities: Foreign corporations and nonprofits must follow the same reporting schedule as domestic entities of the same type. Foreign LLCs do not file annual or biennial reports in New Mexico.

Any authorized individual: officer, director, partner, or authorized representative, can file on your behalf. That said, many businesses use their registered agent, attorney, or compliance service to ensure timely filing.

How to file

New Mexico has gone paperless for business filings—no printable forms exist for your annual or biennial report. Everything happens through the Secretary of State's business portal, and mailed submissions get rejected. 

Here's your step-by-step process:

1. Visit the Business Services portal and log in—or create an account in minutes if you're new.
2. Search your entity by name or ID number to access its dashboard.
3. Select Annual Report for nonprofits or Biennial Report for corporations, LPs, or LLPs.
4. Review the pre-loaded data from your last filing. Check everything, including registered agent, address, officers, directors, and update anything that's changed.
5. Write a brief description of your business nature. Keep it simple, like "software development" or "retail bakery."
6. Add your electronic signature. Most entities need one signature, but nonprofits often require two officers.
7. Pay the filing fee with your credit card. The system adds a $1.95 convenience fee and won't proceed until payment is processed.
8. Save the stamped report and payment confirmation, as you'll need these for banks, lenders, and licensing agencies.

Due dates and deadlines

New Mexico bases every report deadline on your company's fiscal year, not calendar year. This matters because your countdown begins when your books close, so knowing your fiscal year end is crucial for compliance.

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Deadline differences matter across states. For instance, Florida’s Sunbiz annual report requires payment by May 1 each year, so you can’t assume every jurisdiction follows New Mexico’s timeline.

Filing fees

New Mexico collects all reports online, so what you see at checkout is what you pay before the portal accepts your filing. Keep in mind that these report fees are separate from any franchise tax your business may owe.

Required information

Prepare everything before clicking "File" to avoid scrambling mid-session and reduce the chance of rejection. Every New Mexico annual or biennial report asks for these core details:

• Current principal office address
• Registered agent's name and physical New Mexico address
• Business identification number (issued by the Secretary of State)
• A brief description of the business's purpose or activities

The portal then branches into entity-specific requirements. 

• For-profit corporations must provide names and addresses for all officers and directors 
• Nonprofits share board and officer information and confirm their charitable purpose. 
• Limited partnerships and LLPs list the names and addresses of all general partners. 

You can update any pre-filled fields as needed, which is helpful when your management team has changed since the last filing.

All reports need electronic signatures. One director or officer can sign for a corporation, but nonprofits typically need two authorized signatures. The system rejects reports without proper signatures. Payment happens at submission, with fees varying by business type.

Consequences of not filing

Miss a New Mexico report, and the trouble starts right away. The Secretary of State's system flags your entity as late after the deadline, triggering a $200 corporate late fee or $10 nonprofit penalty. 

Since payments happen online, the charge applies the moment you submit your overdue form—no negotiating it down later. Once you're late, you lose good-standing status, making it impossible to get a certificate of good standing for banks, vendors, or potential partners.

Ignore the problem, and things get worse. The state can move toward administrative dissolution—or revoke the operating rights of a foreign entity—under the statute governing annual and biennial filings, §53-8-83. 

Dissolution eliminates name protection, allowing another company to register something confusingly similar. It also prevents you from taking legal action in New Mexico courts, complicates business loans, and can block local license or permit renewals.

If you've missed a deadline, reinstatement is possible but requires effort:

1. File every missing annual or biennial report.
2. Pay all accumulated late fees and past-due filing fees.
3. Submit a reinstatement application through the online portal.
4. Pay the reinstatement fee (varies by entity type).
5. Wait for electronic confirmation—processing typically takes a few business days after payment clears.

FAQs about New Mexico’s annual report

Can New Mexico LLCs ignore annual report requirements entirely?

Yes. Unlike most states that burden LLCs with annual filings, New Mexico requires absolutely nothing. You only need to update the Secretary of State when your registered agent or address changes. Otherwise, you can skip the routine paperwork other entities must complete, saving both time and money.

What if I need to amend information after filing?

Log back into the Secretary of State's online portal, find your entity, and file an amendment. If the state flags an error, you will be notified and should correct it as promptly as possible to avoid penalties. 

How do I obtain a Certificate of Good Standing in New Mexico?

After your report is accepted, click the "Certificates" tab in the same portal, pay the fee, and download it instantly. No waiting for mail.

Are there any multi-year filing options available?

No. New Mexico requires separate filings for each period. You can't prepay or submit multiple years at once.

Streamline your New Mexico annual report with Discern

New Mexico creates different compliance challenges based on your business type. But the real headache comes when managing multiple entities. Keeping track of the differences when managing multiple entities often leads to missed deadlines and last-minute scrambling.

This is where Discern helps. Rather than juggling spreadsheets and different portal logins, you enter your entity data once and let our software handle the calendar tracking and form completion. Get started by booking a demo today.