Tax Alert

New amnesty for 2019 annual reports and annual fees

The Puerto Rico Department of State will eliminate fines and penalties to previous 2020 annual reports and annual fees.
Contents

The Secretary of State, Lawrence N. Seilhamer, issued Administrative Order 2021-01 on January 16, 2021 with the purpose to align the amnesty deadline with the filing date of the 2020 annual reports and annual fees. From November 6, 2020 until December 31, 2020, there was an amnesty period which eliminated fines and penalties for annual reports and annual fees prior to 2019. This new order is similar to the previous amnesty but states the following:

  1. Is an amnesty that will eliminate the fines and penalties imposed to active entities for not filing annual reports or annual fees prior to 2020 on time, including 2019 Annual Reports and Annual Fees.
  2. The amnesty will start on January 19, 2021 and will end on February 17, 2021.

Entities with an outstanding balance that previously requested a payment plan also qualifies, only if the amount paid covers the corporate fee or annual fee. An entity with an eligible payment plan has no further actions.  Payment plans will be subject to administrative review for the application of the amnesty approved herein.

This is the time to review your entity’s status with the Department of State to clean up any fines or penalties assessed. 

For your benefit, we included a summary of the due dates of the 2019 Annual Reports and Annual Fees:

Administrative Order

Original due date

Postponed due date

Fees due

Amnesty periods

2020-02

April 15, 2020

July 15, 2020- no extension filing required

N/A

N/A

2020-05

July 15, 2020

July 31, 2020- second extension due August 17, 2020

 

Annual fees due date was July 15, 2020

$150 for corporate and LLC fees

 

$5 Not for profits entities

 

$30 additional extension

N/A

2020-08

August 17, 2020

October 31, 2020

 

Annual fee due date was August 17, 2020

$150 for corporate and LLC fees

 

$5 Not for profits entities

 

$30 additional extension

N/A

2020-09

October 31, 2020

January 15, 2021

 

November 6, 2020 to pay the corresponding fees

$150 for corporate and LLC fees

 

$5 Not for profits entities

 

$30 additional extension

Eliminates fines and penalties for reports and annual fees previous 2019.

Period:  November 6, 2020 until December 31, 2020.

Payment plans eligible if amount paid covers the corporate fee or annual fee.

We are committed to keeping you up to date with all tax-related developments. Please contact our Tax Department should additional information be required regarding this or any other tax issue. We will be glad to assist you.

Juan Cortés

Tax Senior

Collaborated in the preparation of this article.