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American companies need annual review. What is the annual review process?

Views:1273Time:2020-06-08

With the development of economic globalization, more and more domestic enterprises enter the international market. As the largest economy in the world, the United States has unique advantages and is the first choice for domestic enterprises. More and more overseas investors choose to register American companies. After the successful registration of American companies, in order to ensure the normal operation of the company, the annual review of American companies must be handled. So what is the annual review of American companies? What is the process of annual review of American companies?

Registered US company

Why do American companies conduct annual review

According to the requirements of the U.S. government, American companies conduct annual review every year to ensure that the U.S. government understands the operation of each company. After the registration of American companies, in order to maintain the normal operation of the company, it is necessary to conduct annual review and tax declaration within the specified time, so as to ensure that the company will not generate abnormalities. If the U.S. company does not conduct annual review, the following situations will occur:

① If the annual audit is not carried out on time, a fine will be imposed if the annual audit is overdue. The amount of the fine will be determined according to the place of registration and the overdue time;

② If the company is overdue for about three months, it will be in abnormal operation state, which will have a negative impact on the company's operation in the United States in the future.

Annual review process of American companies

① Filing the latest annual return: the Secretary company needs to update the information of directors and shareholders, the latest information of senior officers of the company, and the information of registered agent and registered address when making the annual return

③ Renewal Secretary company and registered address: many states in the United States require that a person or company located in this state be the legal secretary of the company, and the registered address located in this state. One of the contents of annual review is to renew the Secretary company and registered address.

③ Tax declaration: for American companies with actual business operations, the accountant is required to conduct audit, tax declaration and audit before the annual audit, and pay the corresponding business tax. For some U.S. companies, registered U.S. companies are only used for brand promotion or offshore operation, and there is no actual operation. This part of American company does not need to do account and pay tax, can carry on tax zero declaration. But we need to make the annual Declaration on time and pay the franchise tax to keep the company normal.

US annual review time

After the completion of the company registration in the United States, it is necessary to go through the annual review procedures on time. However, due to the different company laws of 50 states in the United States, some states have different regulations on the annual review time of joint-stock corporation and limited liability company LLC. For example, the annual review of joint-stock companies and limited liability companies in Florida is on May 1 each year; the annual review of Companies in Colorado is basically conducted after the first anniversary of company registration.

Information required for annual review of American companies

① A copy of the certificate of incorporation;

② Copy of the complete set of documents for the establishment of the US company;

③ Copy of ID card or passport of shareholder or director (subject to the one submitted to the government)

④ Copy of shareholder change document (if any);

⑤ Copies of capital increase documents (if any);

⑥ A copy of the name change of the US company (if any);


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