Every year around this time I receive a notice in the mail from some company regarding the upcoming renewal of my professional limited liability company. Last year, I received one such notice from a shadowy entity called C.P.F.S., which operated out of a letter drop in a UPS store in St. Paul. No brick and mortar address, no phone, no contact name, no website. This company even garnered the attention of local news media and the MN Secretary of State.
In the notice I received, C.P.F.S. offered to file a renewal for my PLLC for $95. While it's debatable as to whether C.P.F.S. is legit, and there is not much helpful information about them online (aside from the KARE11 story) the facts surrounding how they go about their business should set off alarm bells in the minds of business owners.
Today I received a similar offer in the mail from a different company, Paragon Document Research, Inc., in St. Paul. Paragon's offer was for the same service, but at a cost of "only" $55. As was the case of the other company, Paragon's form bore an "official" looking letterhead, with "SECRETARY OF STATE - MINNESOTA" emblazoned at the top.
For all I know, Paragon is a legit organization, and it appears to be more above-board than the aforementioned C.P.F.S. However, I have never done business with Paragon, I can't vouch for the company, and I will neither endorse nor condemn them. YMMV. Paying them the fifty-five bucks could bring peace of mind to a business owner who might be too busy and is concerned about missing the renewal deadline. If you let things slide until after the new year, your LLC will become administratively dissolved and you will have to re-register your entity, paying a $25 fee.
But let me point this out: Renewal of your LLC or PLLC in Minnesota is free. Yes, I said FREE. And it takes all of 3 minutes to complete it yourself online.
Before the end of of each calendar year, you need only go to the Minnesota Secretary of State's website, set up a user account (or login to your existing one), search for your business and file the renewal online. The SoS will email confirmation and you are good to go for another year.
Put it in your calendar to remind yourself later this fall, and do it without cost.