Before July 1 of each year, each licensee shall complete and file with the City Clerk a report on a form provided by the Clerk. The information required on the annual report shall include, at a minimum, the following: name(s), address(es) and telephone number(s) of the owners of the business, of the business itself and of the person to contact in case of emergency, as well as a description of the nature of the business. No fee shall be required for filing the annual report. Failure to file the annual report shall be grounds for revocation of the business license.