Forming a company is only the beginning. What matters is ensuring that filings, deadlines and ongoing obligations are handled correctly over the long term.
Compliance means making sure your company continues to meet the legal and administrative requirements of its jurisdiction. Depending on the country, this may include government filings, tax forms, annual reports, fees, registrations and proper record-keeping.
The obligations that apply depend on the legal entity, the jurisdiction in which the company is registered and its actual business activity. A US LLC is subject to different rules than a company in Georgia or the EU. That is why forming the company correctly is not enough: its ongoing compliance must be tailored to the entity and jurisdiction.
Missed deadlines or filings can lead to penalties, loss of good standing, or problems with banks and authorities. A clear compliance process ensures that obligations are understood, responsibilities are assigned and required filings are completed on time.
The services required depend on the jurisdiction, legal entity and business model.
Ongoing recording of transactions, invoices and supporting documents as the basis for filings and annual accounts.
Tax returns, mandatory forms, nil filings and other jurisdiction-specific submissions.
Annual reports, registry filings, renewals and statutory disclosure requirements.
A statutory contact for official notices, service of documents and ongoing legal correspondence.
State fees, renewal fees, filing deadlines and recurring payments.
Contracts, invoices, corporate records and statutory record-keeping requirements.
Accounting is a core part of company compliance, but it does not cover every compliance obligation. It ensures that income, expenses and business transactions are documented clearly and forms the basis for tax filings, regulatory submissions and annual accounts.
Requirements vary considerably from one jurisdiction to another. Depending on the jurisdiction, an annual summary may be sufficient, while other jurisdictions require monthly reports, VAT filings and extensive supporting documentation. Companies with no revenue may still be required to submit nil filings or other reports.
Our guide to international accounting explains the different systems, common obligations and the key points business owners need to consider.
Many problems arise because ongoing obligations are not fully planned for when the company is formed.
A company remains in good standing only when its annual and ongoing obligations are properly managed.
In addition to accounting, tax forms, registry filings, fees and other submissions may be required.
Even without revenue, the company may still need to file forms, pay fees and maintain a registered agent.
Registered agent service, annual reports, state fees, and required US tax forms prepared by a US CPA.
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Full US compliance support, including required US tax forms prepared by a qualified US CPA.
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