SCAM ALERT: C.P.F.S. Annual Registration Letter

Many of our clients receive an Annual Registration Instruction Form from a company named "C.P.F.S." towards the end or beginning of the year. The Form states that C.P.F.S. will assist the business entity in filing its annual registration for a payment of $150.00. The form also contains the Secretary of State's Control Number for the entity, the Business Address, and the formation date of the entity.

This inclusion of the business entity information is probably provided to make the recipient believe that the letter is coming from the Georgia Secretary of State or an official affiliate. This information is readily available to the public on the Georgia Secretary of State's website.

C.P.F.S. is hoping that you overlook the small print on the letter that states C.P.F.S. is "a private entity" and is not affiliated with the Georgia Secretary of State.

Kapadia & Naik believes that C.P.F.S. searches the records of the Georgia Secretary of State for business information and sends out a letter requesting payment to each registrant in the hopes that the registrant will just pay it without questioning it.

By paying the $150.00, C.P.F.S. will indeed file an annual registration for your company; however, filing your annual registration is a straightforward process. Also, the annual registration only costs $50.00 per year, so you'll save $100.00 by doing it yourself. It is not worth the extra $100.00 to have C.P.F.S. file your annual registration for your business entity.

Our recommendations are as follows:

1.          DO NOT send money to C.P.F.S.,

2.         Ignore the letter should you receive it, and

3.         If you have a large accounting department, make them aware of this C.P.F.S. letter so that they do not pay it off automatically.

If you would like to discuss how we can help you register your business entity, please call Kapadia & Naik at 770-881-8081.