The bill amends South Dakota law regarding the filing of annual reports by entities. Specifically, it modifies Section 59-11-25 to clarify that entities, except for certain banks and limited partnerships, must file their annual reports either in the month of their formation anniversary or by January 31 of the following year and annually thereafter. At the time of formation, entities must indicate their chosen filing date. Additionally, entities in good standing with the Secretary of State can switch between the two filing dates by submitting a change-of-filing-date form.

The new provisions will take effect on January 1, 2027, allowing entities to have a clearer understanding of their reporting obligations and the flexibility to change their filing dates if necessary. This amendment aims to streamline the reporting process and ensure compliance among various entities operating within the state.

Statutes affected:
Introduced, 01/21/2026: 59-11-25
House State Affairs Engrossed, 01/23/2026: 59-11-25
House Engrossed, 01/27/2026: 59-11-25
Senate State Affairs Engrossed, 02/25/2026: 59-11-25
Enrolled, 03/05/2026: 59-11-25