Does It Cost To Keep My App In The App Store Each Year?

[rs14smith]

I've been searching for a straight answer for the question in the title. I paid my $99 developer fee a while back, and I have developed an app and placed it in the App Store. However, I cannot remember if I read or heard somewhere that it costs a fee to keep your apps in the app store year after year?

Basically, what happens if I do not renew my developer fee that Apple charges?

 

[wickerman1893]

Every year you have to renew your license for $99. If you do not renew it your applications will be taken off the App Store.