Managed Annual Report Services (MARS)
Whether you have one entity or a thousand, you’re probably already aware of the headaches involved in maintaining compliance. Be it called an annual report, list, or statement, nearly all jurisdictions require that business entities make timely filings in order to maintain good-standing status.
Due to recent budgetary cuts, many state filing offices across the country have stopped providing courtesy reminders for these critical filings—leaving the onus on businesses to know when their reports are due. In addition to the immediate savings realized on printing, postage and staff hours, eliminating these helpful reminders has increased revenue at state offices thanks to hefty penalty and reinstatement fees.
Adding to the confusion, each state has its own set of rules, deadlines, fees and state-specific forms for you to remember. Preparing and tracking filing deadlines for these critical reports can prove to be very time consuming if you’re managing annual reports for multiple entities in numerous jurisdictions. And don’t forget, if you miss a single deadline the consequences can be disastrous for the company in question. A missed deadline could mean your entity can lose its ability to appear in court, be fined several hundreds of dollars, be subject to additional fees for requalification, void existing contracts, face revocation or administrative dissolution, lose its entity name and more. With all of the risks and liabilities involved, outsourcing the management of your annual reports is both cost effective and smart.
Centralize your compliance with Parasec’s Managed Annual Report Services (MARS), and our experienced staff will help you greatly reduce the risk of missed filings, costly penalties, the loss of good standing and, ultimately, the security of your business. Parasec will track each of your entities for you, in each state, and their required report filings throughout the year. Our dedicated compliance specialists will perform status checks on each entity prior to filing the reports, notify you of any concerns, gather and prepare the required forms, request your approval or signatures (when necessary), advance fees on your behalf, and send you confirmation reports of the filings once completed.
For over 25 years, Parasec’s registered agent division has been providing assistance from coast to coast. With some of the best customer service and pricing in the industry, Parasec is here to serve you moving forward. With the added power of MARS and ParacorpPlus™, you’ll have up-to-date information on your entities at the click of a button. All the while, you’ll be secure in the knowledge that our expert professionals are on the job.
Protect your business entities by enrolling in MARS. Give us a call today at 800.533.7272.