What are Delaware's requirements for public benefit corporations?
For more help with tax and compliance matters, see How can my corporation get help complying with Delaware’s requirements?
Delaware public benefit corporations have to meet the same compliance requirements as any other Delaware corporation. See What are Delaware’s annual requirements for corporations? for more information about those requirements.
In addition, Delaware public benefit corporations are required to provide a statement to their stockholders every two years. This statement should cover the corporation’s promotion of its specified public benefit(s) and the best interests of those materially affected by the corporation’s conduct. The statement must include all of the following:
- the objectives the board has established to promote the corporation’s public benefit(s) and interests
- the standards the board has adopted to measure the corporation’s progress in promoting its public benefit(s) and interests
- objective factual information regarding the corporation’s success in meeting its objectives
- an assessment of the corporation’s success in meeting its objectives
Note that a public benefit corporation’s certificate of incorporation or bylaws may include additional reporting requirements. The default forms in Clerky’s products for Delaware PBCs do not contain any additional reporting requirements.