Tuesday, March 17, 2009

A Worthless Letter

Have you received a letter from Compliance Services that started out "Annual Minutes Requirement Statement"? It then quoted various laws and told you to complete the form and send it to them with a check for $125. It is an official looking form but does indicate that it is not a government form.

What is the purpose of this form? That is a good question. Based on the instructions, the company will prepare some document and send it back to you for filing with your other corporate records. They threaten you with dire results if you do not comply. Their main goal is to scare you into sending them $125. Don’t do it! Dealing with this company does not provide you with any additional protection.

My suggestion: THROW THE LETTER AWAY. The company is not providing any benefits for the fee.

If you are incorporated you must file an annual report with the Secretary of the State of Massachusetts. You can do this online or on paper. The cost is $125. (Guess how the company calculated their fee!) Here is a link to the Secretary of State’s web site where you can get much better information on your filing requirements. There also is a posting about the Compliance Services letter.


Please pass this blog on to your incorporated friends.

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