|
To keep the Company in good standing and to avoid penalties. In addition, if the company is not in good standing the legality of any documents executed by the company may be challenged.
More than ever banks are under pressure from their compliance departments to make sure that companies having accounts with the bank are current with their annual government fees. If you have a corporate account odds are very good that you will be asked for this proof ever so often. It is easier to pay the small annual fee each year than to try to come up with thousands of dollars all at once to pay penalties, restoration and back year's fees to bring the company current.
.
|
