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SCAM Alert

Better Business Bureau Warns Wisconsin Businesses About Official Looking Letter from “Corporate Records Service”

The Wisconsin BBB is warning businesses throughout the state about a letter being sent out, requesting information and payment from a company called “Corporate Records Service” asking business owners to fill out an “Annual Minutes Form” and submit a fee of $125 to a Madison mail box. Businesses are not required by the Wisconsin Department of Financial Institutions (WDFI) or any other state agency to complete the form.

According to WDFI, the letter includes information about companies that is available on the DFI website, such as corporation number and incorporation date, that make it appear to be a legitimate request. WDFI says, “Business owners should not be hoodwinked into giving out potentially confidential information and paying an unnecessary fee.” Corporate Records Service is not registered with WDFI.

The form states that Corporate Records Service is offering to assist businesses with maintaining minutes of meetings of shareholders and boards of directors, but does not include any specifics on how the company will supply that service. The form also includes the following statement: “Corporate Records Service is not a government agency and does not have or contract with any government agency to provide this service.” The address it provides, 1360 Regent St., #161, Madison WI 53715, appears to be a UPS store with #161 being the rented box number.

WDFI says state officials in Maine, Indiana and Tennessee also have warned businesses in their states about the activities of Corporate Records Service and bbb.org has several reports on the company, with various out of state addresses, as well.

Business owners who have questions about the form may contact WDFI directly at 608-266-1622.

A sample of the form can be viewed here.