The end of the year is tunneling toward us at the speed of light. Before you know it, December 31 will be here. Will your loose ends be tied up? What about your corporate compliance? Working on certain tasks now will keep you from having a pile of work to do at year’s end.
First, Know What Documents are Due
Depending on when you incorporated and how you set up your business year, you may have several filings you need to take care of before the end of the year. Overlook them, and you’ll be found as noncompliant with your Secretary of State. That could mean fees or even jeopardizing the good standing of your business!
You should receive notice from your state that certain documents are due, but we can’t always rely on snail mail, can we? It’s better to keep a calendar of what’s due so you can take care of it well in advance of that deadline.
- Annual Report – This document is one you’ll need to put together — you guessed it — annually — unless you’ve incorporated in Ohio or Alabama. Essentially, it updates the Initial Report with details on officers, shareholders, and business purpose. CorpNet can file your Annual Report for you as fast as 1-2 weeks.
- Articles of Amendment – If any of the above information has changed, you’ll need to file an Article of Amendment to stay compliant. This includes changes to your company name, your address, or your share distribution.
- Articles of Conversion – If you’ve decided to change your business structure from a corporation to an LLC or other switch, you need an Article of Conversion on file. Do this before the end of the year so you can start fresh with your new business structure in 2015.
- Meeting Minutes – Because corporations are required to have regular Board of Director meetings, you may be asked to submit evidence of these meetings in the form of Meeting Minutes. They don’t have to be complicated; just the highlights of each Board meeting and any changes or decisions made.
Next, Get Your Game Plan Together
You can mark each of these items with their due dates on your calendar, or you can use a handy corporate compliance tool like our Compliance Portal. Here you can view upcoming documents and file them before their deadline, and you can stay on top of each item so you’re always compliant.
Realize that the attitude of setting up a corporation and then not having to do any legwork for it is a common misconception. While it’s certainly not complicated to operate as a corporation, it does require a little attention and planning. Fortunately, CorpNet is here to help you stay compliant with our many compliance services.