Nonprofit Annual Filing Requirements by State
New Mexico Nonprofit Annual Filing Requirements: A Step-by-Step Guide
At a Glance
New Mexico nonprofits must file several annual reports to maintain their legal status and tax exemptions. The Annual Corporate Report is due to the Secretary of State by the 15th day of the 5th month after your fiscal year ends (with a $10 fee), while most organizations must also submit IRS Form 990 by the same deadline. Organizations soliciting charitable contributions must file annual financial reports with the New Mexico Attorney General within six months of their fiscal year end.
Introduction
Did you know that missing your nonprofit annual filing requirements could cost your organization its tax-exempt status? Staying compliant with these critical deadlines isn’t just good practice—it’s essential for your nonprofit’s survival. Nonprofit annual filing requirements in New Mexico include several important documents that protect your organization’s legal standing and tax benefits. Without them, you risk penalties, fees, or even losing your nonprofit status altogether.
Certainly, managing paperwork might not be the most exciting part of running your mission-driven organization. However, understanding exactly what you need to file—and when—can save you countless headaches and help your nonprofit continue its important work uninterrupted. From state-specific reports to federal tax forms, each filing serves a specific purpose in maintaining your organization’s good standing.
In this comprehensive guide, you’ll discover everything you need to know about keeping your New Mexico nonprofit compliant through proper annual filings. We’ll cover state regulatory requirements, federal tax obligations, and practical steps to ensure you never miss an important deadline again.
Understanding Your Annual Filing Obligations
Nonprofit organizations in New Mexico must navigate several filing requirements to maintain their legal status and tax exemptions. Regular compliance isn’t optional—it’s a fundamental responsibility that protects your organization’s ability to operate.
Why annual compliance matters
Annual filings serve multiple critical purposes beyond mere paperwork. Primarily, they help maintain your tax-exempt status at both federal and state levels. In New Mexico, nonprofits that have obtained federal 501(c) status may be eligible for certain state tax exemptions, such as deductions or exemptions from gross receipts tax, depending on their activities and proper documentation, per the IRS Form 990 filing requirements.
Furthermore, annual filings create transparency for donors, stakeholders, and the public—building trust in your organization. These reports demonstrate accountability and provide insight into how your nonprofit manages its resources.
Regular filings also ensure your organization maintains its legal protections. Without proper compliance, your nonprofit could lose its corporate shield, exposing board members to personal liability. Additionally, many grants and funding opportunities require proof of good standing, making compliance essential for financial sustainability.
What happens if you miss a deadline
The consequences of missed filings can be severe and far-reaching. For federal filings, the IRS imposes daily penalties for late filings that scale with the size of the organization, and continued noncompliance can lead to substantial charges. Perhaps the most serious consequence is automatic revocation of your tax-exempt status, which occurs when an organization fails to file required returns for three consecutive years.
This results in:
- Requirement to pay federal income taxes
- Potential state and local tax obligations
- A lengthy and costly reinstatement process
- Damage to your organization’s reputation
At the state level, New Mexico imposes its own penalties. Organizations failing to file annual charitable financial reports face a $100 per year late fee through the New Mexico Attorney General’s charities program. The Secretary of State (505-827-3600, sos.state.nm.us) assesses a $10 late fee for annual corporate reports.
Overview of federal vs. state requirements
Federal Requirements: Form 990 series returns must be filed by the 15th day of the 5th month following your fiscal year end (typically May 15 for calendar-year organizations), per the IRS Form 990 filing requirements. The specific version of Form 990 depends on your organization’s gross receipts and total assets.
New Mexico State Requirements:
- Annual Corporate Report: Due by the 15th day of the 5th month after your fiscal year ends, with a $10 filing fee plus $1.95 convenience fee
- Charitable Solicitation Registration: Annual financial report due within 6 months after fiscal year end
- Audit Requirement: Organizations with more than $750,000 in total expenses (effective January 1, 2024) must perform an independent audit
Extensions are available for most filings if requested before the original due date. For charitable solicitation reports, you can request a 6-month extension through the New Mexico Attorney General’s electronic system (NM-COROS). At Labyrinth, Inc., we help nonprofits track these varying deadlines and ensure timely submission of all required state filings.
Filing the New Mexico Annual Corporate Report
Every New Mexico nonprofit must maintain good standing with state authorities through regular filings. The Annual Corporate Report represents one of the most fundamental compliance requirements for nonprofits operating in the state. We help ensure accurate preparation and timely submission of these reports, allowing nonprofits to focus on their mission while meeting all state deadlines.
Who must file and when
All nonprofit corporations registered in New Mexico must file an annual report with the Secretary of State’s Business Services Division. Unlike for-profit corporations which file biennially, nonprofits must submit this report every year.
The filing deadline is calculated based on your organization’s fiscal year. Specifically, the annual report must be submitted by the 15th day of the fifth month following the end of your fiscal year. For organizations operating on a calendar year (January–December), this means the report is due by May 15th.
You can check your organization’s next report due date through the Secretary of State’s online portal if you’re uncertain about your specific deadline.
What information is required
The New Mexico Annual Corporate Report requires several key pieces of information:
- Your nonprofit’s legal name
- Principal office and mailing address
- Registered agent name and New Mexico street address
- Brief statement of organizational purpose
- Names and addresses of directors/officers
- Signature of an authorized officer (must be signed by at least one director or officer)
It’s vital to keep this information current since it helps state authorities and the public identify and contact your organization. Moreover, maintaining accurate records ensures you receive important notices regarding your compliance status.
How to file and pay the fee
- Visit the New Mexico Secretary of State website
- Access the Corporations and Business Services page
- Create an account if you don’t already have one
- Navigate to the Annual Report section
- Search for your organization by name
- Verify and update your information
- Submit the report with payment
The filing fee for nonprofit organizations is $10.00 plus a $1.95 convenience fee for online processing. Payment can be made by credit card through the secure online portal.
Penalties for late or incorrect filing
Failing to file your annual report on time carries several consequences. First, your nonprofit will incur a late fee of $10.00 in addition to the standard filing fee. Subsequently, the Secretary of State will send a written notice of failure to file to your organization’s mailing address.
If you still don’t file the report within 60 days after this notice, the Secretary of State may cancel your certificate of incorporation. This effectively dissolves your nonprofit corporation.
Beyond these immediate penalties, failure to maintain compliance may result in:
- Loss of good standing status
- Inability to access state courts
- Difficulty securing grants or donations
- Potential loss of tax-exempt status if combined with federal filing deficiencies
To avoid these issues, consider setting up automatic reminders for your filing deadlines and designating a specific person responsible for ensuring timely submission. Labyrinth supports nonprofits in organizing these filing details and setting up reminder systems to prevent missed deadlines.
Submitting IRS Form 990
The IRS Form 990 series serves as the federal government’s window into your nonprofit’s finances, activities, and governance structure. Filing this annual information return is not merely a bureaucratic exercise—it’s fundamental to preserving your tax-exempt status.
Which version of Form 990 to use
- Form 990-N (e-Postcard): For organizations with gross receipts normally ≤ $50,000
- Form 990-EZ: For organizations with gross receipts < $200,000 and total assets < $500,000
- Form 990: For organizations with gross receipts ≥ $200,000 or total assets ≥ $500,000
- Form 990-PF: Required for private foundations, regardless of financial status
See the IRS Form 990 filing requirements for detailed thresholds.
Notably, certain religious organizations are not required to file a Form 990. Remember that you can always file a more detailed form than required, yet you cannot file a less detailed form than your financial thresholds dictate.
Key deadlines and thresholds
Your Form 990 is due by the 15th day of the 5th month after your organization’s fiscal year ends. For example, if your fiscal year ends December 31, your filing deadline is May 15. If a deadline falls on a weekend or holiday, it shifts to the next business day, per the IRS due dates for exempt organizations.
Need more time? File Form 8868 before your original due date to receive an automatic six-month extension.
Organizations in New Mexico with total expenses over $750,000 (effective January 1, 2024) must undergo an independent audit and submit it electronically to the New Mexico DOJ Charities Program.
Common mistakes to avoid
- Missing deadlines: Late filing penalties can accrue and ultimately lead to automatic revocation after three consecutive years of non-filing.
- Incorrect form selection: Using the wrong form based on your financial thresholds may result in an incomplete filing.
- Incomplete schedules: Many organizations forget to attach required schedules, primarily Schedule B (contributor information)—see IRS filing tips for common errors.
- Misclassifying expenses: Improperly categorizing expenses by function (program, administrative, fundraising) can mislead potential donors and raise red flags with authorities.
- Outdated narratives: Carrying forward narrative responses from previous years without updates often results in inaccurate or irrelevant information.
Ultimately, your Form 990 is a public document that donors, grantmakers, and regulatory agencies scrutinize. Accurate, timely filing not only ensures compliance but also builds credibility with stakeholders who support your mission.
Renewing Charitable Solicitation Registration
Beyond basic corporate compliance, many New Mexico nonprofits must maintain current charitable solicitation registration with the state. This crucial filing helps protect donors and ensures transparency in fundraising activities throughout the state.
Who needs to register
Charitable organizations that exist, operate, or solicit contributions in New Mexico must register with the New Mexico Department of Justice through the NM-COROS online system. This requirement applies regardless of whether your organization has actually received donations yet.
The registration obligation extends to organizations recognized under section 501(c)(3) of the Internal Revenue Code and groups that present themselves to the public as operating for a charitable purpose. See the New Mexico DOJ Charities Program for definitions and requirements.
Importantly, organizations must register with the NMDOJ before soliciting funds in New Mexico. Those that exist and operate in the state must register within thirty days of creation, even if they haven’t begun solicitation activities.
How to file the annual financial report
After initial registration, your organization must submit annual financial reports to maintain compliance. These reports are due within six months after your fiscal year ends. For instance, if your fiscal year ends December 31, your report would be due by June 30.
- Access the NM-COROS web application
- Log in with your organization’s credentials
- Submit certified financial information for the relevant tax year
- Upload electronic copies of your organization’s IRS tax forms
- Include audited financial statements if required
Organizations with less than $50,000 in total revenue must submit a copy of their IRS 990 electronic postcard; those with total expenses over $750,000 (effective January 1, 2024) must perform an independent audit and file it electronically with the New Mexico DOJ Charities Program.
Need more time? Extension requests must be submitted before the due date through NM-COROS. Remember that filing an extension with the IRS does not fulfill the requirement to request an extension with the NMDOJ.
Exemptions and special cases
Not all nonprofit organizations must register. The Charitable Solicitations Act provides exemptions for:
- Religious organizations – Churches and groups organized primarily for divine worship, religious teaching, or specific religious activities
- Educational institutions – Schools, colleges, or instructional institutions with defined curricula, student bodies, and faculty conducting regular classes
- Auxiliary entities – Parent-teacher organizations, booster clubs, and support groups that promote a school’s curriculum, student body, faculty, facilities, or activities
Failing to register or file annual reports on time can result in a $100 penalty. Organizations unable to file electronically due to disabilities or lack of electronic resources may request an exception through the New Mexico DOJ Charities Program.
New Mexico requires an annual financial report to maintain compliant status.
Additional Compliance Considerations
Independent audit requirements in New Mexico
Larger nonprofits face specific audit obligations. Organizations with more than $750,000 in total expenses (effective January 1, 2024) must submit an independent audit, and the audited financials must be filed electronically with the New Mexico DOJ Charities Program.
County-level or local filings
Apart from state and federal requirements, nonprofits should verify if any county-level filings apply to their operations. Organizations with employees must register with the New Mexico Department of Workforce Solutions and the New Mexico Workers Compensation Administration. Nonprofits should likewise obtain a New Mexico State Tax Identification Number, even though many are exempt from gross receipts tax under Section 7-9-29 NMSA 1978; see New Mexico Taxation and Revenue guidance for nonprofits.
Keeping bylaws and board information up to date
Current bylaws and board information represent essential compliance elements. Bylaws should be maintained at your principal office, be consistent with applicable law and your articles of incorporation, and be made available in accordance with state requirements.
Updates regarding your organization’s status with the IRS or New Mexico should be promptly reported. This includes maintaining an accurate list of officers and directors as part of your required documentation. When board members change or registered agent information needs updating, these changes must be reflected in state filings to maintain compliance. Labyrinth handles these update filings as part of our corporate filing services.
Conclusion
Maintaining compliance with annual filing requirements stands as a critical responsibility for every New Mexico nonprofit. Throughout this guide, you’ve learned about the essential filings needed to protect your organization’s legal standing and tax-exempt status.
First and foremost, remember that your Annual Corporate Report must be submitted to the New Mexico Secretary of State by the 15th day of the fifth month after your fiscal year ends, along with the $10 filing fee. Additionally, most nonprofits must file the appropriate IRS Form 990 by the 15th day of the fifth month following their fiscal year end.
Organizations soliciting charitable contributions face another requirement—the annual financial report submission to the New Mexico Attorney General’s charities program within six months after fiscal year end. Those with larger budgets must also prepare for independent audits when their expenses surpass $750,000.
Missing these deadlines certainly carries serious consequences. Your nonprofit risks penalties, late fees, loss of good standing, and after three years of non-filing with the IRS, automatic revocation of tax-exempt status. Therefore, creating a compliance calendar and assigning specific responsibility for these filings will help safeguard your organization. For nonprofits managing complex filing schedules, we provide personalized support to track deadlines, prepare accurate documents, and maintain good standing with all state agencies.
The effort invested in proper compliance ultimately protects your mission and preserves donor trust. Though paperwork might seem tedious, staying current with these requirements ensures your nonprofit can focus on what truly matters—the important work you do for your community. Keep your filings organized, meet your deadlines, and your New Mexico nonprofit will maintain its legal status and tax benefits for years to come.
Frequently Asked Questions
