Corporate Compliance Services

Corporate Statutory Requirements, Annual Compliance; Annual Reports, Biennial Reports, Periodic Reports, Statements of Information

Corporate Compliance Services

Velawcity’s senior corporate paralegals help you stay on top of various requirements and deadlines for statutory reports, business renewals and other compliance requirements. State requirements vary between the types of entity. For instance, corporations may need to file an annual report in a particular state, but LLCs, LPs, LLPs may not. Some states require annual reports, while other states require biennial reports, while some states do not require statutory filings at all. Then, there’s Pennsylvania which requires a decennial report – unless the company has made a filing in the past 10 years. In addition, some states, such as California require initial statements of information (the equivalent of an annual report) to be filed within 30 days of registration in order to avoid tax penalties. Velawcity tracks all deadlines, notifies you of an upcoming deadline within 30 days of the due date. After confirming updated information, Velawcity senior corporate paralegals always prepare and file required reports in a timely manner. Velawcity corporate compliance services include:


 

Statutory Periodic Filings, Franchise Tax Reports

  • Perform an initial audit of the status of all your entities (free of charge)
  • Monitor filing deadlines using Velawcity’s proprietary database
  • Prepare Google spreadsheets for mutual reference, if requested
  • Prepare and file timely annual reports or biennial reports via online (most states)
  • Draft annual consents or minutes
  • Coordinate DocuSign signatures, if necessary
  • Apply for state and local government accounts, such as Departments of Revenue
  • As an affiliate of CT Corporation and National Registered Agents Inc., we appoint and manage registered agent services in all 50 states

Revive or Restore to Good Standing

State requirements vary as to the procedure for revival or reinstatement. Depending upon the specific state requirements, Velawcity senior corporate paralegals will:

  • Perform an audit of the state’s status to determine requirements and taxes due
  • Request and obtain a tax good standing certificate, if necessary
  • Prepare and file certificates of revival, reinstatement or restoration; or
  • Prepare and file new qualification document, depending upon state requirements

Why Choose Velawcity

Using Velawcity as your trusted partner to track and manage these filings gives you an added advantage over the typical outside service company. We are your on-demand paralegal. We coordinate required signatures via DocuSign (always copying counsel). Velawcity’s expert services saves you time and our billable time can be marked up as a revenue generator. And, if that’s not enough, our filing methods will save your client up to 50% of the standard large service company filing fees!

Velawcity Paralegal Services Include:

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 handled 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. Velawcity called to our attention a $65,000 credit in Delaware. Through Velawcity’s efforts, Empirix had that money in the bank within 2 months. To top it off, Velawcity negotiated a volume discount with our registered agent 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. The folks at Velawcity went above and beyond the typical outsourced vendor. I’d recommend Velawcity to any company.
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