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Wisconsin Companies Cautioned About Notices for Corporate Annual Minute Reporting

Limited liability companies formed in Wisconsin receive a notice, usually a green card, from the State of Wisconsin Department of Financial Institutions (DFI), reminding them to file an annual report with the DFI and to pay an annual fee. Wisconsin corporations do not have this requirement. However, in the last few weeks, Wisconsin corporations have been receiving very official looking requests to file a "2013 Annual Minutes Form" reporting on their shareholders, directors and officers. The form contains information about the corporation, a conspicuous response date, and requests a $125.00 fee. Although the form makes reference to Wisconsin statutes, it was not sent by the DFI, but rather a private organization called Corporate Records Service using a Madison address.

The DFI published a press release on January 30, cautioning business owners receiving these requests that these are not official State of Wisconsin forms, that this reporting is not required by Wisconsin law, and the fee is not due to the State. DFI indicates that Wisconsin is just the latest state to warn its businesses about similar mailings.



About this Author

Nancy Leary Haggerty, Land Resources, Real Estate Attorney Michael Best Law Firm

Nancy is a partner in the Land & Resources Practice Group. Her more than 30 years of experience covers a broad range of real estate law, including assisting clients in purchases, sales and leases of property, and development and zoning work; representing borrowers and lenders in real estate loans; assisting in foreclosures and workouts; advising on questions of condominium law; negotiating construction and architects' contracts; and assisting in real estate litigation.

She has worked extensively with TIF financing and municipal development...