Michigan Incomplete and Deficient Annual Reports are reports that companies, limited liability companies, and non-profit corporations are required to file annually with the Department of Licensing and Regulatory Affairs (LARA). The reports are required to provide information about their assets, liabilities, and members. The reports are then used to assess compliance with Michigan's corporate laws and regulations. There are two main types of Michigan Incomplete and Deficient Annual Reports: Incomplete Annual Reports and Deficient Annual Reports. An Incomplete Annual Report is an annual report that is filed with LARA that does not contain all the required information. A Deficient Annual Report is an annual report that is filed with LARA that contains some required information, but is missing or incorrect in some areas. In both cases, companies, limited liability companies, and non-profit corporations are required to submit a complete and accurate annual report to LARA in order to maintain their good standing with the state. Failure to do so can result in fines, sanctions, and even termination of the company's corporate status.