Wednesday, June 26, 2013

Grimes warns of 'annual minutes' scam

BUSINESS LEXINGTON
Kentucky businesses have less than one week to file an annual report with the Secretary of State’s office and pay the accompanying $15 filing fee.

More than 60 percent, or roughly 122,000 entities, had already filed for 2013 as of June 20, according to a media release from Secretary of State Alison Lundergan Grimes’ office, with about 63 percent of them filing their reports online.

Those that fail to meet the July 1 deadline will be listed in bad standing with the office and receive a final 60-day notice. Failure to comply with the notice will result in administrative dissolution of the business entity or revocation of authorization to conduct business in the state.

Entities that are already registered can gain access to 2013 annual report forms pre-populated with information from the organization’s previous filings at the Secretary of State’s website. Reports can be filed in person or by U.S. mail, but Grimes encourages entities to file their reports online, in the interest of “saving both businesses and the state time and money.”

In addition, Grimes reissued a warning about a confusing and official-looking solicitation reportedly received by some Kentucky businesses. The mailing from an entity called Corporate Records Service asks recipients to provide information on shareholders, corporate directors and officers for a “2013 Annual Minutes Form” and instructs them to pay a $125 fee. Corporate Records Service is not registered, affiliated or associated with the Secretary of State, Grimes said.

“Businesses should exercise caution before providing information or payment to Corporate Records Service, or any other entity that makes misleading requests,” Grimes said.