Full Corporate Compliance and Risk Review
Scope of the Review:
1. Entity Formation and Standing Review ● Verify business registration details and standing status with the Secretary of State ● Confirm proper filing of annual reports and franchise taxes ● Review Articles of Incorporation / Organization and amendments for accuracy 2. Ownership, Management, and Record-Keeping ● Review corporate governance documents (Bylaws, Operating Agreement, meeting minutes) ● Assess accuracy of member/shareholder lists and officer information ● Check record retention policies for required legal documentation 3. Tax and Financial Compliance ● Validate federal EIN registration and status with IRS ● Review state and local tax accounts for registration or filing gaps ● Assess sales tax, payroll, and withholding compliance ● Identify risk areas in tax payment or reporting frequency 4. Licensing and Permit Review ● Identify missing or expired business licenses, occupational permits, and professional certifications ● Verify proper business activity classification across jurisdictions 5. Risk Assessment and Recommendations ● Identify compliance gaps and potential penalties ● Provide step-by-step recommendations for remediation ● Prioritize high-risk areas to resolve first (tax, annual reports, licensing) Deliverables Upon completion, you’ll receive a Comprehensive Compliance Report, including: ● Entity status summary and standing confirmation ● Tax account and registration verification ● Compliance timeline and upcoming deadlines ● Recommended corrective actions ● Compliance risk rating (Low / Moderate / High)
Common Issues Identified in Reviews:
● Missed annual reports or inactive registration status ● Unfiled or late franchise tax returns ● Incorrect or outdated business address or ownership records ● Missing corporate minutes or member resolutions ● Expired business licenses or unregistered trade names
Pre-Review Information Checklist:
Before beginning your compliance review, please prepare the following documents and records. Having these ready ensures a faster, more accurate review and helps identify any potential compliance risks.
1. Entity Formation & Registration ● Certified copy of your Articles of Incorporation / Organization ● Any Amendments, Mergers, or Conversions previously filed ● Certificate of Good Standing from your current state ● Registered Agent details (name, address, and service records)
2. Corporate Governance ● Operating Agreement or Bylaws ● Meeting minutes and resolutions for the last two years ● Ownership / membership list or capitalization table● List of current officers, directors, or managing members
3. Tax Registration & Filings ● EIN Confirmation Letter (IRS Form CP575 or 147C) ● Last filed federal and state tax returns (business-level filings) ● State sales tax or franchise tax account numbers ● Payroll tax registration details (if applicable) ● Any tax notices or correspondence from the IRS or state 4. Licenses & Permits ● Copies of state, city, or professional licenses ● Business permit or registration certificates ● Industry-specific approvals (if applicable, e.g., construction, finance, healthcare) ● Renewal confirmation or expiration dates for all licenses 5. Financial & Operational Records ● Most recent bank statement or reconciliation report ● Annual financial summary or income statement ● Registered DBA / trade name certificates (if operating under another name) ● Business insurance certificate (for verification of liability coverage) 6. Contact & Communication Details ● Primary contact person for the audit (name, title, and email) ● Current business mailing address and phone number ● List of any affiliated entities or subsidiaries (if applicable)