Do I need to file an annual report?
If you complete a successful Regulation Crowdfunding offering, the law requires that you file an annual report in a year to update the SEC and your investors. We made this easy for you to do.
The annual report is due no later than 120 days after the end of your fiscal year. When the time comes, we’ll send you a reminder email, and link to a tool that will help you submit the report fast and easy.
If you neglect to file an annual report, you won’t be able to raise future Regulation Crowdfunding rounds until you file the annual report. However, you may still raise funds from accredited investors only using Regulation D.
Different companies have different reporting requirements:
If your company was dissolved, if you’ve liquidated all your shares, or if you’ve repurchased all issued shares, you do not need to file an annual report.
If you have fewer than 300 shareholders, you only need to file one annual report. (As all Wefunder investors count as one shareholder, this likely means you only need to file one annual report, unless you have a lot of outside shareholders).
If you have more than 300 shareholders but less than $10 million in assets, you need to file three annual reports before you are exempt.