03 Jan Annual Compliance Season 2020
It’s that time of year again!
Velawcity clients are sleeping well, are you?
“Like most controllers, undetected compliance issues keep me up at night. So, we hired Velawcity to audit compliance issues. Velawcity found 3 states with issues which were rectified efficiently and cost-effectively. In the process, Empirix saved $1,800 in Illinois penalties because Velawcity found an Illinois tax amnesty period and ensured the filing was made within the allotted time. In Delaware, Velawcity called to our attention a $65,000 credit. Through Velawcity’s efforts, Empirix had the money in the bank within 2 months. To top it off, Velawcity negotiated a volume discount with our registered agent service company that reduced our annual registered agent invoice by more than 50%. Thanks to Velawcity, Empirix will be saving thousands of dollars annually for years to come. I’d recommend Velawcity to any company.” — Noel Ogden, Controller, Empirix, Billerica, MA
Everyone knows why we have to file those pesky annual reports. Depending upon the number of states that need to be filed, it’s a tedious detail that must be managed. When filings are missed, the headaches and expenses can really add up. This makes annual compliance a perfect function to outsource.
The Velawcity Distinction
Velawcity handles your statutory filings with the same responsibility that we did when we worked as corporate paralegals in legal departments and law firms. Because we function as a trusted partner, there is no need for completing time-consuming Excel spreadsheets with repetitive information. We make it our business to know your business. We pay attention with the same care as if we were on your payroll. Using Velawcity to manage your compliance, means that you can turn your attention to more important matters and never lose sleep over worrying about compliance.
As your trust partner, we:
- Audit corporate portfolio and provide a comprehensive compliance report with current entity status from domestic and foreign jurisdictions.
- Set up, track and maintain corporate governance requirements.
- Prepare and file annual reports for domestic and foreign jurisdictions.
- Coordinate signatures via DocuSign or file online whenever possible.
- Track all required filings in our database that contains important information and filing requirements.
- Advance funds for established clients.
We can also:
- Create and/or update minute book summary sheet and foreign qualification spreadsheet as required.
- Prepare stockholders and directors annual consent/minutes.
For your easy reference, download Velawcity’s 50 State Annual Report Reference Chart