Mississippi’s HB 1344 Introduces New Nonprofit Reporting Requirement
Signed into law in April 2024 as Chapter 410, and effective July 1, 2024, House Bill 1344 requires all domestic and foreign nonprofit corporations registered with the Mississippi Secretary of State to file annual reports by May 15 each year, starting in 2025. The report, filed at no cost, must include the corporation’s name, registered agent details, and whether it received public funds from Mississippi state or local agencies. Non-compliance may lead to administrative dissolution. This requirement is separate from charitable solicitation filings.
Read the New Nonprofit Annual Report Filing Requirement here
Key Provisions:
Annual Report Requirement:
- All nonprofit corporations (domestic and foreign) registered with the Mississippi Secretary of State’s Business Services Division must file an annual report by May 15 on a prescribed form, starting in 2025. The report includes:
- The nonprofit’s name and state/country of incorporation.
- Name, email, and physical address of its registered agent in Mississippi.
- Whether the nonprofit received public funds (defined as funds from the State of Mississippi or local governmental authorities) during its most recently completed fiscal year, including a list of the distributing agencies.
No Cost:
- There is no filing fee for the annual report.
Non-Compliance Penalty:
- Failure to file the report by the deadline may result in administrative dissolution of the nonprofit corporation, potentially affecting its ability to operate legally in Mississippi.
Separate from Charitable Solicitation:
- The annual reports are distinct from the charitable organization registration and renewal requirements under Mississippi Code § 79-11-503(1), which apply to nonprofits soliciting contributions.
Exemption:
- The requirement does not apply to water associations as defined in Mississippi Code § 79-11-394.
Impact on Nonprofits:
- Compliance Burden: Nonprofits incorporated in Mississippi or registered as foreign corporations must track and report public funding sources, adding an administrative task. This is particularly relevant for organizations receiving state or local grants.
- Risk of Dissolution: Failure to file could lead to loss of good standing or dissolution, impacting operations and fundraising.
- Distinction from Charity Filings: Nonprofits soliciting contributions must continue to register with the Secretary of State’s Charities Division separately, ensuring compliance with both requirements.