A Fresh Take
For this post of Did You Know?, we thought we’d switch it up a bit to give you valuable insight from a client’s perspective on their decision to invest in our Annual Report Management Service (ARMS).
Here’s some Q&A with Capitol Services’ ARMS client Kim M.:
Q: What was life like before enrolling in Annual Report Management Service (ARMS)?
Unorganized. We would file the reports when we got past-due notices.
Q: How has ARMS affected you and your company?
We’ve been able to get our reporting organized with visibility in one place.
Q: How much time would you say that ARMS saves you?
I couldn’t even imagine. With the number of companies we have, it would be a part-time job! Or a full-time job!
Q: What’s it like working with our ARMS team?
It’s great! Everybody is very prompt with their questions in all situations so our filings are made efficiently and on time. The stuff that needs to get done gets done; the ARMS team has been very flexible with our 3rd parties and they keep me on top of everything.
Q: Any unexpected benefits you’ve experienced with ARMS?
I feel more organized when we go into business deals knowing that we’re always in good standing.
Q: What’s one reason you’d recommend ARMS to your colleagues?
I like working with the team. The customer service is wonderful; super-helpful. We’re not just another number; if it’s important to me, it’s important to you guys. And that doesn’t always happen in today’s day.
Q: What would you say to a client who might be considering ARMS?
Do it. Yes, it costs money, but there’s always a cost — it’s whether you want to pay someone on your staff to do it, and not always have the security of them knowing what they’re doing. If it’s not right, you’ll have late fees and more costs to get back into good standing. So there’s always a cost — ARMS is absolutely worth it.
To experience how ARMS can make your life easier, reach out today for a quote.
Corporate Transparency Act Update
The Corporate Transparency Act’s (CTA) reporting requirements, effective January 1, 2024, will impact most companies across the country. However, many companies remain unaware of their new reporting obligations.
Key Questions for Companies
As the effective date approaches, companies should consider several key questions.
- Am I exempt from filing a beneficial ownership report (“BOI Report”) with the Financial Crimes Enforcement Network (“FinCEN”)
- Who are my beneficial owners?
- Who are my company applicants?
We will be offering BOI Report filings as a product to our clients and are building a secure system that clients will use to upload their information for the filings. We will inform clients of our pricing for the filings in the fourth quarter of this year.
Two pieces of legislation have been introduced in Congress that, if passed, would impact the implementation of the CTA: the Protecting Small Business Information Act of 2023 and the Protect Small Business and Prevent Illicit Financial Activity Act.
Additionally, there is a growing movement among states to require companies to report beneficial ownership information in ways similar to the CTA. The New York legislature has passed the LLC Transparency Act which will require LLCs to report beneficial ownership information to the Department of State. Similar legislation has been introduced in California and Massachusetts.
We will continue to keep you up to date on the CTA and the legislative trends. For more information, visit our CTA resource page here: https://www.capitolservices.com/cta/
Your White Glove Agent
Did you know that our company’s Registered Agent services stand out for a couple of key reasons? Instead of relying on virtual mailboxes, our registered office addresses are brick and mortar locations. Rather than outsourcing the processing of your sensitive legal documents received in the U.S. to individuals overseas, we take pride in our in-house capabilities, which result in better quality control and accuracy.
Courtesy of our workflow, we maintain direct authority over our Client Service Representatives (CSRs) who handle Service of Process. We carefully train our CSRs and ensure they have the expertise to handle these critical documents accurately, including the review and approval of each document before it is forwarded to you.
Beyond the benefits of in-house operations, our company takes data security and confidentiality seriously. We have implemented proprietary technology and internal methods that eliminate the need for third-party involvement in storing your Service of Process. This protects your documents and minimizes the risk of unauthorized access.
In addition to our advanced technology and robust security measures, we pride ourselves on providing superior service. When you contact us, you won’t encounter automated responses — instead, you’ll be greeted by a knowledgeable representative ready to assist you promptly and personally.
Choose our Registered Agent services for the peace of mind that comes with our in-house capabilities, rigorous quality control, and commitment to exceptional customer service. Experience the difference for yourself.
Ready or Not, Here It Comes
As 2024 draws closer, we know that the Corporate Transparency Act (CTA)’s upcoming reporting requirements are on the forefront of people’s minds. We have received many questions about the CTA including whether we will be offering the required report filings as a service.
The CTA requires most companies in the U.S. to submit a beneficial ownership information report (BOI Report) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) identifying their beneficial owner(s), company applicant(s), and other company information. These requirements go into effect on January 1, 2024. We have closely studied the CTA since its enactment by Congress at the beginning of 2021. Additionally, we have thoroughly analyzed the rules published by FinCEN, the regulatory body tasked with implementing the filing requirements. We are currently working with FinCEN to gain further clarification on their rules, provide feedback, and shape their regulations.
We will be offering BOI Report filings as a product to our clients, and we are developing a secure system to facilitate the collection of the information required to submit the filings. We will also be offering Employer Identification Number (EIN) application submission services to clients since EINs are required to be included on the BOI filings. We are developing our processes for both product offerings and are engaging clients for feedback.
We will continue to keep you up to date as we refine our approach. For more in-depth information on the CTA and its requirements, visit : https://www.capitolservices.com/cta/
Robust Lien and Litigation Reporting
Our search reports are designed with a focus on clarity and efficiency. We take pride in providing value-add deliverables to our clients at no extra cost.
Our litigation solution offers due diligence at a higher level, covering court jurisdictions that are often ignored by our competitors. This gives you the assurance of mitigating risk and making informed decisions. Our closed litigation reporting clearly specifies when a judgment is found, saving you valuable time when reviewing search results.
We also understand the importance of organization when it comes to large search projects. Our complimentary search findings project spreadsheet is automatically provided with every order. It includes clearer reporting with the ability for user manipulation. At Capitol Services, we strive to provide your results in the way that works best for you, whether it’s a link, a PDF, or a spreadsheet. Our goal is to ensure that you have exactly what you need to make your job easier.
Top 5 Benefits of Choosing Us as Your Lien Service Provider
Large Research Team
Our UCC Research team is committed to delivering high-quality results in every search we perform — from UCC searches to local court searches. We allocate the resources of our growing team efficiently and focus on improved training and development for our employees.
Includes Everything You Need
We offer wide-ranging, comprehensive searches nationwide. Our team is prepared to search any civil index hearing matter of $10,000 or more and provide project estimates with competitive fees based on your search and jurisdiction requirements.
Experience in Leadership
Our experienced UCC and Lien department is led by passionate leaders who are not only well-versed in the complex world of UCC, but who also started their own careers in lien services. Their knowledge has set the standard for the department’s growth and development.
New (and Improved!) Technology
Our in-house developers and UCC team work together to enhance technological systems for better lien search service and electronic filing offerings. We use proprietary applications that extract data directly from the Secretary of State’s office to reduce errors and provide fast and reliable results.
Second Set of Eyes
Capitol Services ensures high-quality and dependable services by putting all search reports and filings through a rigorous editing process before being sent out. This extra step ensures that you receive results you can trust and rely on.