Annual Report (10K)
The United States Securities and Exchange Commission (SEC) requires an Annual Report that sets forth a very detailed summary of a corporation or LLC’s financial performance on a form known as “Form 10-K”. This Annual Report is submitted to the SEC and typically contains the following information with respect to the reported business as follows:
1. The current structure of the business such as its board of directors as well as its president, chief financial officer and other upper management that run the business on a day to day basis;
2. A detailed history of the business from its creation to the present day;
3. Details pertaining to how the company’s executives and members of its board of directors are compensated;
4. Any and all affiliates of the business;
5. Detailed financial statements including earnings and losses for the past year.
With respect to businesses with real estate holdings, a break down as to each asset in terms of each location, profits, or losses incurred and expenses for the past year since the last 10-k form was submitted. An Annual Report is only required to be submitted to the SEC on an annual basis from companies that are publicly traded, regardless of the type of business operation that is in effect.