Pennsylvania Checklist for Corporate Minutes
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How to fill out Checklist For Corporate Minutes?
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FAQ
Are Minutes Required For A Corporation? In most states, keeping corporate meeting minutes is a requirement for all official meetings at S corporations and C corporations. This includes the board of directors' meetings, too.
In Pennsylvania, a corporation need not adopt bylaws at its formation, but bylaws are sometimes adopted by the incorporator or board of directors at formation or a later time.
While the federal government has no requirement regarding the keeping of meeting minutes if the IRS is planning an audit of your company they may ask to examine your company's meeting minutes.
Though these minutes do not need to be filed with the state and can instead be kept with your corporate records, they are important documents for protecting your limited liability status and keeping track of the votes and decisions made by your business. In other words, meeting minutes keep you compliant.
How to Write Meeting Minutesthe name of the company, date, and location of the meeting.the type of meeting (annual board of directors meeting, special meeting, and so on.)the names and titles of the person chairing the meeting and the one taking minutes.the names of attendees and the names of those who did not attend.More items...
(a) General rule.The corporate seal may be affixed and attested, but the affixation and attestation of the corporate seal shall not be necessary for the due execution of any filing by a corporation under this title.
Whilst the Companies Act 2006 requires that board minutes must be retained for at least 10 years, ICSA recommends that they are retained for the life of the organisation. ICSA recommends that any written notes of the meeting should be retained until the minutes are approved and then destroyed.
A business should keep its minutes for at least seven years, and make them available to members of the corporation (e.g., shareholders, directors, and officers) who make a reasonable request to review them. There is no requirement to file annual stockholder meeting minutes with the state or other government agency.
Most states require that corporations take board meeting minutes, but the exact format is left up to the company. Minutes don't need to be filed with the state, but they must be kept on file for at least seven years.
A corporation must file an annual return with the Registrar of Corporations each year, and must record proper minutes of annual shareholders and directors meetings.
