Legal Alert Snell & Wilmer L.L.P.
 
July 2009
 

ACC Terminates Courtesy Notices; Delinquent Corporate Filers Target for Annual Report Filing Scam

To Our Corporate Clients:

Arizona corporations and foreign corporations that are authorized to transact business in Arizona are required to file an annual report with the Arizona Corporation Commission (the “ACC”).  Generally, these reports are due each year on the anniversary of the date of incorporation or the date the foreign corporation was authorized to transact business in Arizona.

In the past, the ACC sent courtesy notices to all domestic and foreign corporations reminding them of the date their annual report was due.  Effective October 1, 2009, the ACC will no longer send such reminders (due to budgetary constraints).  Because, it is a corporation’s responsibility to ensure that its annual reports are timely filed, you should take steps to make sure you remember to file your corporation’s annual report.  You can confirm whether your corporation is current with its report by visiting the ACC’s website.  The website address is: http://www.cc.state.az.us.  To access your company’s records, click “Corporate Records” and then “Corporations Annual Reports by Name Search.”  Enter the name of your corporation and click the “Search” button.  Your entity’s information will be listed on screen and you can confirm when the corporation’s next annual report is due.  The month and day will be constant so we recommend setting an annual reminder for when your corporation’s annual report is due.

We also suggest that you periodically visit the above ACC website and review the information regarding your corporation.  Recently some corporations that were delinquent in filing their annual reports have fallen prey to a scam by unrelated third parties who surreptitiously file the delinquent annual report.  By filing the annual report the third parties are able to change the names of the true directors, officers and shareholders.  Such actions can have serious consequences for a corporation because the ACC posts the director and officer information on its website where it is public information.  Banks and other entities often check the ACC website for current information on a corporation.  If any of the information on your corporation is incorrect, you should contact your attorney to work with you to resolve the issue with the ACC.


For more information on this article, please contact
 
Jeffrey E. Beck
602.382.6316
jbeck@swlaw.com
Bianca Stoll
602.382.6236
bstoll@swlaw.com
 
 
Snell & Wilmer L.L.P.
Snell & Wilmer offices