If a seller continues to sell or offer to sell a business opportunity for more than one year from the date of the department’s acknowledgment of the initial registration under this chapter, the seller shall renew the registration each year that the sale or offer to sell continues by filing, before or on the anniversary date of the department’s acknowledgment under Alaska Stat. § 45.66.020(c), a renewal application, on a form established by the department by regulation, requiring information that is similar to the information required under Alaska Stat. § 45.66.020.