There was a time when you could rely on states to send reminders to file your companies’ annual reports and to keep you abreast of any changes to their due date requirements. No longer! Many states have stopped sending reminders of annual report due dates, and companies are forced to identify and track the due dates themselves. Perhaps this is why so many companies miss their annual report filings and fall out of good standing each year.
The consequences of failing to file your annual reports can be significant.
• Administrative dissolution or revocation
• Loss of right to use your corporate name
• Tax liens against you for unpaid taxes
• Voidable contracts if entered into while in bad standing
• Breach or default of duties under financing agreements
Tired of attempting to keep track of your annual report due dates? Sign up for our Annual Report Management Service (ARMS), and let us manage your filings! ARMS is an auxiliary service offered to companies that have appointed us as their registered agent. We can help take the pain out of annual report compliance.