This document is sometimes referred to as the charter. File an annual report for a Corporation, Not-for-Profit, or Limited Liability Company online.Incorporate a business or terminate an LLC. The requirement for an annual meeting lies in the legal, not tax, status of the business. You should hold an Annual Shareholder's Meeting. At the Meeting, the Shareholders should elect the Directors. Sole Shareholder: Why Bother With Corporate Meetings and Minutes? A meeting must be held, regardless of the number of shareholders in the corporation.