Missing the May 15 Deadline? What Texas Businesses Need to Know About the Public Information Report (PIR)

With the annual Public Information Report (PIR) approaching on May 15th, it is important to understand what a PIR is, who is required to file one, and what happens to your business if you fail to meet the deadline.

What Is a PIR?

A Public Information Report (PIR) is a business filing that keeps your LLC in good standing in the state of Texas. It is filed with the Texas Comptroller’s Office annually while your LLC is up and running. This filing contains basic information about your business, such as principal office address and your registered agent’s information. The deadline for filing annually is May 15, in the year following your first filing in Texas.

The PIR can be filed by the business owners personally, but can also be done by their Business Attorney, Certified Public Accountants, or the company’s Registered Agent.

Who Needs to File a PIR— and Who Doesn’t?

Each taxable entity that is formed as a corporation, limited liability company (LLC), limited partnership, or financial institution created in the state of Texas or has nexus, must file a Texas Franchise Tax Public Information Report.

Though not all entities are required to file, including:

• A passive entity—an entity that is a Real Estate Investment Trust (REIT) meeting the qualifications specified in Texas Tax Code Section 171.0002(c).
• Entities that are not organized in Texas.
• An entity with annualized total revenue less than or equal to the no tax due threshold is not required to file a No Tax Due Report. However, the entity is still required to file a Public Information Report or an Ownership Information Report (OIR).
• Entities that are exempt from the Texas Franchise Tax.

Consequences of Missing the Deadline

Missing the May 15 PIR deadline can trigger a chain of consequences that grow more serious over time:

• Loss of Good Standing: Your LLC or corporation falls out of good standing with the state, meaning you’ll be unable to obtain a Certificate of Status—a document often required for opening bank accounts, securing loans, or bidding on contracts.
• Barred from State Business: If you’re not in good standing, you may be prohibited from conducting business with Texas state agencies, which can impact vendors and clients.
• Entity Forfeiture: If you continue to ignore the filing requirements, the Texas Comptroller can forfeit your business’s right to operate in Texas. Eventually, the Secretary of State may involuntarily terminate or revoke your business entity.
• Personal Liability: Once your business is forfeited, the protection of limited liability disappears. Owners, directors, or managing members could become personally liable for any business debts or obligations incurred after the forfeiture date.
• Loss of Legal Rights: A forfeited business also loses the right to sue or defend itself in court—which can become a major legal disadvantage if disputes arise.

How to Fix a Missed PIR Filing

If you’ve missed the deadline or have already fallen out of good standing, don’t panic—there are steps you can take to get back on track and the attorneys at Begum Pelaez-Prada PLLC can help you business get back in Good Standing!

• File the overdue PIR and any missing Franchise Tax Reports.
• Pay the $50 late filing fee.
• If your entity has been forfeited, file for reinstatement with the Secretary of State and pay the filing fee.

Once all forms and fees are submitted, your business may be reinstated and restored to good standing.

Tips to Stay Compliant Year After Year

• Mark your calendar for May 15, and make this an annual reminder to ensure your PIR is filed in time.
• Keep your registered agent and office address up to date.
• Use the Texas Taxable Entity Search tool to check your status.

OR, let the attorneys at Begum Pelaez-Prada handle your corporate compliance for you!

The Public Information Report may seem like a minor annual form, but it plays a big role in keeping your business legally protected and operational in Texas. Don’t let a missed deadline snowball into penalties, personal liability, or forfeiture. If you have any questions about filing a PIR please do not hesitate to reach out to our team at: 210-780-6022 for more information.