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Monday, April 11, 2011

Calling ALL COLORADO Businesses re: Colorado Controller Unit

PLEASE, don't let this scammers get you! Some of you have already received, some of you may be getting it in the mail - the letter from Corporate Controller Unit. It looks VERY official, and it offers "help" in staying compliant with Colorado Regulations.

Let's start from the beginning: each Colorado Business is required to file a Periodic (Annual) Report with Colorado Secretary of State. The fee for filing is $10 each year. Each business gets a reminder from the State via post card in the mail about a month before the report is due.

This "Corporate Controller Unit" states that if business fails to file this periodic report, it'll become noncompliant or delinquent with the Secretary of State. It offers "help" in filing required report for only $225. It states that you have to respond right away. As official as this letter looks, and appears to be from government agency, it is NOT! It is a scam, and Secretary of State explains in more details in the interview with Channel 4 here.
Most of us don't ever read the fine print at the bottom or at the end of documents. This one would be worth reading, as it states that Colorado Controller Unit in not a government agency and it has no legal authority. Thus businesses are not required to do anything with it, and are free to disregard this letter.

I hope you didn't fell for this scam. If you are not sure if you are current on your filings, check with your Tax Specialist, or simply go to the Colorado Secrectary of State website, and check it. This website offers a lot of great information. Make sure you stay current and compliant, as it costs much more than $10 to re-instate if you became delinquent.