Corporate Compliance

State_CTBy Joe Fournier

If you are a Connecticut business owner, it is important to understand that your filing requirements do not end after you have formed your Corporation. On the contrary, there are additional actions that need to be taken to ensure the Corporation remains in good standing, and to ensure the Corporation maintains its status as a legal entity separate from its owners. Four of these compliance requirements are enumerated below:

Annual Reports

The corporation is required to file subsequent annual reports with the Secretary of the State on an annual basis, on or before the last day of its anniversary month. The State typically sends an email reminder of this requirement; however, the State’s failure to do so will not relieve the Corporation of this requirement.

Agent for Service

You are required to maintain your registered agent in the State. If your agent changes or moves, you must update this information with the State.

Annual Meeting of Shareholders

The Corporation is required to hold meetings in accordance with its bylaws. You should remember to hold periodic meetings, and to keep Minutes of said meetings.

S-Election

If you wish to be treated as an S-corporation (pass-thru taxation), then your election on form 2553 should be made within 2.5 months of your incorporation.

Following these rules will help ensure you remain in good standing, and avoid the penalties that may result from non-compliance.  We are happy to assist you with protecting your business and making sure you remain in corporate compliance.