Minnesota Rule 7-1 Corporate Disclosure Statement is a legal document that must be filed with the Minnesota Secretary of State in order to form a limited liability company (LLC) or other corporate entity. It requires the filing entity to provide details about its corporate structure, members, registered agent, and other information. The statement must be signed by a principal officer of the company, and the filing fee must be paid before the statement can be accepted. There are two types of Minnesota Rule 7-1 Corporate Disclosure Statements: the Initial Disclosure Statement and the Annual Renewal Statement. The Initial Disclosure Statement must be filed when forming a new LLC or other corporate entity, while the Annual Renewal Statement must be filed each year thereafter to keep the entity in good standing.