Quick Overview of Corporate Record Keeping

Contributed by Dee Dee Kelly

Corporate Record Keeping is very important. It’s the difference between being a Corporation or not. At the least you would need Minutes for an Annual Meeting. Minutes are very simple: Who, What, When, Where, Why.

Who was at the meeting?
What kind of meeting (Special or Annual)?
When was the meeting?
Where was the meeting?
Why did you have a meeting (what was discussed)?

You write or type this out and place it in your corporate book behind the Minutes tab. Minutes should be in chronological order.

Day to day business does not require a meeting or minutes. Anything outside of day to day minutes (ie. purchase of property or vehicle by the corporation) requires a meeting, minutes and a resolution. All to be filed in your corporate book.

You should have a meeting each year to elect new officers & directors. The resulting minutes should be filed in the corporate book as discussed previously.

Even though LLC record keeping requirements are not as stringent as for Corporations, you should still maintain a Company Record Book. If you don't have a Record Book for your Corporation or LLC, we can provide one for you. We can also assist you with your record keeping. Just give us a call toll free at (800) 891-5987.

For more information, visit our website at http://www.aaacorpservices.com/

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