No, you don’t have to update your Operating Agreement annually.
An Operating Agreement is an internal document, meaning that you simply keep it with your business records. You don’t have to file your Operating Agreement with the Secretary of State or any other state or federal agency.
That said, you should update your Operating Agreement if you change any of the processes that it governs, like how your business will distribute profits, rules around adding a new LLC Member, and who will be the responsible party for any payroll or tax purposes.
If you need an Operating Agreement for your Limited Liability Company, we offer free LLC Operating Agreement templates.