Thursday, April 23, 2009

Illinois Corporate Compliance

A new scam! Apparently these folks took a page from Illinois Deed Provider's playbook. Illinois Corporate Compliance contacts corporations to inform them that for a fee of $150, they will file your corporate minutes with the State.

You do not need to file your corporate minutes with the State in Illinois. And as far as I know, even if you wanted to file your minutes with the State, you could not do so. There is no reason to do this, and there is no fee from the State to file minutes. You do need to file your annual report along with a fee, but that fee goes directly to the Illinois Secretary of State.

It IS very important for Illinois corporations to prepare their annual minutes, but they need to go in your minute book, not filed with the State. This can be difficult to remember to do unless you have an attorney prepare them for you every year. Most of our corporate clients have us act as their registered agent, so each year, when the annual report is due, we make sure their "corporate house" is in order by preparing minutes, and assisting with filing the annual report.

Always be on the lookout for private companies trying to pretend to be part of the government.