Do You Know if your Entities Are in Compliance?

Uploaded on

Learn about annual report filing, why it is necessary and how e-filing can increase efficiency and cost-effectiveness.

Learn about annual report filing, why it is necessary and how e-filing can increase efficiency and cost-effectiveness.

More in: Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads


Total Views
On Slideshare
From Embeds
Number of Embeds



Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

    No notes for slide


  • 1. Do You Know if your Entities Are in Compliance? Too Many Annual Reports to File, Too Little Time Presented by: Maureen Cathell Jennifer K. Mailander
  • 2. About Maureen Cathell • Workflow Coordinator for the Annual Report and Business License Departments. • 26 year tenure with Corporation Service Company; focused in Corporate Compliance and Governance. • Responsible for developing processes and procedures for Annual Reports and Business Licenses based on customer's needs and State law changes.
  • 3. About Jennifer Mailander • Attorney and Product Manager with Corporation Service Company. • Extensive experience in corporate and commercial law, compliance and risk management. • Maintains key relationships with law firms, strategic partners, clients, and industry organizations.
  • 4. Overview • What is an Annual Report? • Why do I have to file one? • Will I be notified when my Annual Report is due? • Why is e-filing of Annual Reports encouraged? • Every company wants to improve the efficiency and cost-effectiveness of managing its Annual Report filings, but what’s the best way?
  • 5. What is an Annual Report? • In most states, companies who do business in that state are required to file Annual Reports to maintain their good standing status • There are a variety of names for these annual filings – Annual Report – Franchise tax report – Biannual status – Listing of officers • What’s required in these reports? – Varies by state – Officer & Director – Updated address – Sometimes financial information
  • 6. Annual Report Requirements • Not every state requires Annual Reports – There are 6 that require no filing with the SOS • AL, MD, OH, PA, SC, TX • Not every state allows for electronic filing • What happens if I don’t file? – It’s not pretty! • When are my Annual Reports due? – AR, DE, IL, WI – based on issued shares and assets. – NM – filings are odd and even years.
  • 7. Annual Reports v. Business Licenses • Annual Report – Typically required for companies that do business in a state – Entities file Annual Reports to maintain their good standing in a state • Business Licenses – Dependent upon your business and industry – Almost all companies must maintain some type of license to operate a business – Companies might be required to file at the federal, state, county or municipal levels of government – The U.S. has over 150,000 state and local licensing offices that might have licensing requirements
  • 8. CSC Annual Report Preparation & Filing Service • When you utilize CSC Annual Report Preparation & Filing services, CSC… – Conducts an initial audit of the status of all your entities in every jurisdiction – Updates your entity information in our web based Entity Management system – Prepares Annual Report forms on your behalf, file the required documents, and advance state fees directly to the Secretary of State – Invoices you with one fee per entity, per jurisdiction – Maintains strong working relationships with SOS
  • 9. Stress-free Annual Report Compliance with CSC • CSC prepares the Annual Report paperwork approximately 30 days prior to the deadline. – If a form requires your signature, we send you the paperwork to sign, you return to us and we file it. • Once we complete an Annual Report filing, we confirm to you that we’ve satisfied the requirement for you. • We also conduct an annual entity audit for all customers of the ARP&F service. – This audit ensures the continued good standing of all your entities in every jurisdiction where you do business.
  • 10. Bringing it All Together with CSC • How does CSC manage the Annual Report data? • We rely on the CSC Entity Management tool: RecordsCenter. – Data management – Document management – Collaboration – Reporting
  • 11. Why You Should Outsource Annual Report Preparation and Filing • What’s the benefit of having CSC do my Annual Report preparation and filing? – Many states are no longer sending Annual Report notifications • Easy to accidently fall out of compliance – You can stop tracking each state’s Annual Report filing deadlines. • For many companies, this process is managed by a person who has 3-4 other jobs – You can stop worrying about researching and identifying the requirements in each jurisdiction you must file in – You can stop keeping track of what states now accept electronic filings – Avoid paying reinstatement fees, penalties, interest, and even the cost of cutting and mailing checks – You can reduce the risk of missed filings and loss of good standing. – CSC saves you valuable time, money and scarce resources.
  • 12. Questions & Answers Maureen Cathell Jennifer K. Mailander 800-927-9801 x3162 800-927-9801 x3467 Q&A To ask a question, please type your inquiry into the Q&A panel © Corporation Service Company 2009
  • 13. About CSC • Privately-held, 110+ year old company headquartered in Wilmington, Delaware • CSC operates offices in the US, Canada, Germany, France and the UK and employs over 1,000 people worldwide • CSC is dedicated reducing risks and costs for our clients by providing Corporate Governance & Compliance Services, Corporate Identity Protection Services, Litigation & Matter Management Services and Deal & Transaction Support Services. • The CSC suite of Corporate Governance & Compliance Services includes: – Registered Agent Services – Annual Report Preparation & Filing – Business Licenses, Permits & Tax Registrations – Web-based entity management system including compliance calendar – Corporate Entity Tracking For more information about CSC, please email