Wednesday, October 14, 2015

Authorities warn of 'bogus firm' scamming Illinois corporations

To our KOS Friends...

Reposted from the Chicago Sun-Times
Written By Alexandra Kukulka Posted: 10/12/2015, 05:35pm

Authorities are warning businesses of a scam targeting Illinois corporations.

A firm called Illinois Council for Corporations is contacting Illinois businesses in an attempt to collect a $125 fee to fill out a corporation’s Annual Minutes Records Form, according to a statement from the Secretary of State’s office.

The Illinois Business Corporation Act does not require corporations to file a “Minutes Records Form” or pay such a fee with the state or any private entity. The annual report fee is normally the only fee a corporation would pay to the Secretary of State Business Services Department, according to the statement.

“This bogus firm is sending out a form that looks similar to the Secretary of State’s annual report form,” said Secretary of State Jesse White in the statement.

Business owners who believe they’ve been targeted by this scam should file a complaint with the Attorney General’s Office, according to the statement.

“Posing as government officials is a tactic frequently used by scammers, so it’s important that business owners be vigilant,” Attorney General Lisa Madigan said in the statement. “If business owners are asked to submit fees and forms they are unfamiliar with, I encourage them to first contact my office.”

Businesses can file a complaint with the Illinois Attorney General’s Office Consumer Fraud Bureau at (800) 243-0618.  If you have any questions or concerns, please contact your KOS Advisor.

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