Many of my corporate clients recently received an “official” looking notice in the mail in a green envelope from the Corporate Records Service. It says IMPORTANT Annual Minutes Requirement Statement – TIME SENSITIVE. It looks like an annual renewal for your business with the Oregon Corporation Division, but it is not what it seems. These “guys” are asking you to pay $125 by February 27, 2013 for them to file your Annual Minutes.
The truth is that as a corporation you should prepare annual minutes. These minutes should include a list of your current corporate officers, including President, Secretary, Treasurer. You can prepare them at no cost and keep this document in your permanent records. You may need this permanent record for banking purposes, but usually you just need to keep it in your permanent Corporate records. The Board Secreatary should prepare this form annually. It might be a good idea to take a nice “retreat” with the corporate officers once a year to discuss business and the Secretary can prepare minutes of the annual meeting, including a list of the Board of Directors.
I have a blank word document that is a template for your Annual Minutes. Please contact me if you would like me to send this template to you.