Introduction
You are a trusted resource your clients turn to for help and guidance with their finances and tax filings But what if your clients request assistance with other aspects of their businesses such as forming an entity or ongoing compliance tasks?
While you must exercise caution in responding because your insight shouldn’t take the place of proper legal counsel, there is a way you can help your clients and add a new revenue stream for your business without venturing into the territory of unauthorized practice of law or losing control of the client experience by handing your customers off to an unfamiliar third party.
Preparing business entity registration and compliance forms and filing them on behalf of your clients is legally allowed. So you have ample opportunity to expand the value you provide to your clients while earning additional income and gaining a competitive edge over your competition
YOU are uniquely positioned to successfully offer business formation and compliance filing services.
This guide will explain why, and it will step you through how to recognize new revenue opportunities, strategies for adding formation and compliance services to your offerings, and how to maximize your revenue potential and strengthen client loyalty without adding staff, expense to your bottom line, or extra work to your plate.
Why Compliance Matters to Your Clients
Many business owners don't realize the risks of failing to fulfill their reporting and filing obligations. Non-compliance can have potentially devastating consequences, such as:
Fines
Interest and late fees
Suspension of business activities
Revocation of S Corporation tax status
Loss of personal liability protection (as a result of “piercing the corporate veil” that protects business owners from the liabilities of their business entity)
Administrative dissolution (when the state terminates a business entity for non-compliance)
Unfortunately, business owners even those with the best intentions may miss deadlines because they simply don’t have enough time or in-house support to run their companies AND keep up with compliance responsibilities.
Why Compliance Filings Are an Ideal Value-Add to Your Professional Services Menu
As the regulatory environment grows more complex and compliance requirements evolve, business clients increasingly need trusted professionals to help them keep up with their responsibilities Clients are busy and don’t want to be bogged down with filing forms and dealing with the minutia. They’re looking for convenience, time-savings, and peace of mind all things accountants and tax professionals are well-positioned to deliver by adding compliance solutions to their services menus.
Your clients already have trust and confidence in you And by offering business formation and compliance filing services, you can strengthen those bonds of trust as you expand on the ways you can meet your clients’ needs. You can create a more exceptional client experience, serving as their single source for not only financial and tax expertise but also for forming a new business entity and keeping their company in good standing. Knowing that you can satisfy more of their needs and simplify their lives, your clients will have even more reason to seek your expertise and recommend your services to other prospects
You may be wondering, “Doesn’t a lawyer have to file business registration and compliance documents?” While it’s illegal to provide legal advice without a license to practice law, advising clients on the tax savings associated with various entity types and preparing and filing business formation and compliance documents on behalf of clients are NOT considered the practice of law
Compliance Services
Accountants, CPAs, Tax Professionals, and Bookkeepers Can Offer Anywhere in the U.S.
You can offer a wide range of business filing solutions and services, such as:
Incorporation & LLC Filings
Non-Profit (501c3) Filings & Tax Exemption Filing
Requests
DBAs/Fictitious Business Names
Beneficial Ownership Information Reporting
State Sales Tax Registrations (Reseller Permits)
State Payroll Tax Registrations (SITW & SUI Filings)
Business License Research and Filings
Foreign Qualification Filings
Annual Compliance Monitoring & Filings
(Initial/Annual Reports)
Amendments & Name Changes
Name Checks & Reservations
Certificates of Good Standing
Dissolutions & Withdrawals
Conversions & Reinstatements
EIN Applications (Tax ID Form SS-4)
S Corp Tax Elections (Form 2553)
C Corp Tax Elections (Form 8832)
Registered Agent Services
Business Address Services
Corporate Kits & Supplies
Bylaws, Annual Meeting Minutes & Resolutions
IRS Notifications/Change Letters (e g , when changing the entity’s responsible party, name, address, business structure, state of registration)
How to Identify Revenue Opportunities
While assisting your clients with their businesses’ financial reporting and tax-related needs, you have a unique opportunity to provide additional value and expand your revenue stream Business formation and compliance filings are a natural fit for your services menu because they are essential requirements when someone is launching a new company or running an existing one.
The questions in the table on the next page will help you discover the types of services your clients may need based on their circumstances Keep in mind that requirements vary by state and local laws, so it’s important for your clients to verify their formation and compliance responsibilities with the state or their attorney.
Pro Tip: In some scenarios (e.g., starting a new business or expanding to another state), clients will need your tax advisory services and multiple formation or compliance services, so consider bundling relevant services to maximize your revenue and offer optimal convenience to your client
Discovery Questions
Are they starting a new business?
Potential Compliance Filing Needs
Name search and reservation
Business formation
Registered agent services
BOI reporting
Licenses and permits
EIN
Initial report/annual reports
Business formation
Conversion
Registered agent services
Are they considering changing their business structure?
Do they want to expand their operations into other states?
BOI reporting
EIN
Initial report/annual reports
IRS notification/change letter
Foreign qualification
Sales tax registration
Registered agent services
Certificate of good standing
Will a different tax election improve their financial situation? S Corporation election C Corporation election
Are they moving their principal business location or opening additional locations?
Business licenses and permits
Articles of amendment
IRS notification/change letter
Discovery Questions Potential Compliance Filing Needs
Are they changing their business name?
Do they want to market their company’s offerings under a business name different from its legal name?
Do they need help with creating their entity’s governance documents?
Name search and reservation
Articles of amendment
Trademark search
IRS notification/change letter
Is their Single-Member LLC becoming a Multi-Member LLC?
Are they hiring employees?
Are they closing their business and selling its assets?
Name search and reservation
DBA (aka fictitious name, trade name, or assumed name)
Corporate bylaws
LLC operating agreement
Resolutions
Annual meeting minutes
Articles of amendment
IRS notification/change letter
Best Practices for Communicating the Value of Compliance Services to Your Clients
Educate clients about the adverse consequences of non-compliance. Compliance isn’t just a “box to check.” It’s critical for protecting a business from costly fines, penalties, delays in securing funding, inability to scale, administrative dissolution, and legal issues. It’s important for clients to realize that compliance isn’t an unnecessary expense but rather an investment in their company ’ s stability Sadly, too many business owners don’t realize the consequences of failing to fulfill their entity’s compliance tasks until it’s too late
Focus on the convenience and time-saving aspects.
With you handling your clients formation and compliance filings, they can spend more time on revenue-producing activities and operational concerns. You’ll save them from the hassles of tracking down the right forms, filling out the details, and submitting documents to the appropriate agencies on their own
Speak their language (not legal jargon)!
Instead of overwhelming clients with technical compliance terms, explain the ramifications in a way they can relate to. Use real-life scenarios, such as:
“Imagine losing a big contract because your business wasn't properly registered.”
“What if a missed tax registration led to unexpected fines that ate into your profits?”
“Picture how damaging the financial penalties and legal issues from not renewing business licenses and permits on time would be to your business and professional reputation?”
These examples convey the value in terms they can understand and relate to.
Position compliance services as a business growth tool.
Compliance isn’t just about avoiding penalties—it enables growth:
Want to expand into a new state? Foreign qualification may be required.
Hiring employees in another state? Don’t forget state and local payroll tax registration. Applying for business funding? Lenders check compliance records to make sure an entity is in good standing with the state
By framing compliance as a necessary step for scaling and securing financial stability, you can demonstrate its value as an essential investment, not merely an expense.
Emphasize peace of mind.
Busy clients who handle preparing formation and compliance forms on their own might make careless mistakes By entrusting that work to you, someone they already trust, they can feel confident that their paperwork will be completed accurately and on time
6-Step Roadmap for Building Your Compliance Services Revenue Stream
1. Assess if you have an “Accountrepreneur” mindset.
Successfully expanding your services and revenue potential requires adopting an “Accountrepreneur” mindset. Are you excited about broadening your reach and services to create a win-win situation for both you and your clients?
2. Gauge your clients’ interest.
Talk with your clients to find out about their concerns and pain points associated with formation and compliance filings Discuss how having a single, trustworthy source for handling filings on their behalf would save them time and simplify their lives. Would that be of value to them? We think most business owners will respond with a resounding “YES!”
3. Determine what you need to add services to your menu of offerings.
You have choices regarding how to incorporate compliance services into your revenue stream.
DIY – Create your own infrastructure i.e., get set up on all the federal, state, and local government portals; research the forms and applications (and their deadlines); hire someone to interface with the various government agencies to follow-up on filings, etc , or…
Strategic Partnership – Join forces with a reliable, experienced online filings company that has an infrastructure in place to make it easy for you to sell their formation and compliance services.
4. Look for a partner program that is right for you.
The path of least resistance, while achieving near-immediate ROI, is to join a partner program offered by an online business filings company. With the right program, you can begin offering formation and compliance services in minimal time.
However, realize that not all programs are created equal. Here’s are some hallmarks of programs designed to fuel your success:
No fee to sign up or participate
No minimum sales requirement to join or get paid
Transparency up-front about how the program works
The flexibility of selecting a reseller and referral option, with the ability to participate in both if desired
A 100% customer satisfaction money-back guarantee
Ability to support and service clients in all 50 states
Dedicated account manager with specialized expertise in the program and the services sold through it
Multiple support options that include phone, email, live chat, and Zoom
Professionally designed marketing materials that make it easy for you to re-brand and white-label services as your own
Wholesale discounts of no less than 20% for resellers
Commissions of no less than 20% of service value for referral partners, with options to waive all or a portion of your commission and pass some or all of the savings to your clients instead
Intuitive online portal for ordering wholesale services
Volume-based discounts for enterprise resellers
Multiple commission payment methods to suit your preferences (e.g., check, PayPal, ACH)
API for integrating the program into your own website or app
5. Get the word out!
Let your existing customers know about your expanded capabilities and market your offerings to new prospects using various marketing tactics. An ideal strategic partner will provide tools and marketing templates on a turn-key basis so you don’t have to spend time and money to design them:
Use brochures to market your services.
Brochures are a great way to educate clients and prospects about the importance of compliance services and how your firm can help.
Distribute them…
In your office or lobby
During consultations and client meetings
At networking events and conferences
Inside welcome packets for new clients
With other mailings that you send
Make sure you also have a downloadable digital version on your website and in a PDF that you can email to clients.
Update your website with your new offerings.
Create a new page on your website that explains your compliance services, pricing, packages, and benefits. Don’t forget a clear and compelling call to action!
Reach out to your clients via their inbox.
Send targeted emails to your mailing lists, educating clients and prospects about noncompliance risks and how your services can help Also, send personalized emails to clients whom you ’ ve identified may need compliance services (e.g., those who are growing businesses, hiring across state lines, relocating their principal place of business, etc.).
Leverage your social media presence.
Share compliance tips, infographics, and short videos explaining why compliance matters on your social media platforms Run a digital display banner on your website and promote social media posts or run ads that highlight business compliance and link those assets to your website’s landing page.
6. Reap the rewards.
Enjoy additional revenue year-round and elevated client loyalty as you become the goto for handling a broader range of your clients’ needs.
Introducing the CorpNet Partner Program
Now that we ’ ve touched on the advantages of offering formation and compliance services, how to recognize revenue opportunities, best practices for ensuring success, and what to look for in a partner program, we’d be remiss not to share what CorpNet offers as a strategic partner.
We’ve designed our CorpNet Partner Program to make everything as easy and convenient as possible for you and your clients. From the personalized attention of your dedicated CorpNet account representative to our professionally designed, customizable marketing assets to streamlined ordering and client compliance tracking through our intuitive partner portal and more, we give you all the support, tools, and resources needed to successfully launch and sustain a promising revenue stream.
The CorpNet Partner Program allows you to add business formation and compliance services such as preparing and filing articles of incorporation, annual reports, EIN applications, and more to your offerings without increasing your workload or adding expense to your bottom line.
There is no set up fee to join or ongoing membership fees Choose to become a Referral Partner or Reseller Partner If you have difficulty deciding between the two options, you may participate in both selling some services on a referral basis and reselling others. This helps you to tailor our program to your specific needs and optimize your clients’ experience.
CorpNet Referral Program
Send us the business, we’ll send you a check.
Refer your clients in any state to CorpNet, your trusted resource for incorporation, LLC filings, registered agent services, and annual compliance monitoring You get a unique URL tied to your unique partner ID to direct your clients to the CorpNet website and allow us to track your clients’ orders and your earned commissions.
Commissions start at 20% - 30% (depending on volume) of CorpNet’s retail pricing for referrals that convert to a sale
Option to forfeit your commissions and have us pass discounts to your clients instead.
CorpNet handles all orders directly with your customers. With their permission, we are happy to keep you apprised of the status of their filings
CorpNet Reseller “White Label” Program
Your client, your brand, and we do all the work.
Buy wholesale from CorpNet and sell at your desired retail price to your clients.
Wholesale discounted pricing starts at 20% (up to 30%, depending on volume) below CorpNet’s retail prices.
Only pay for the services you want to sell—and pay as you go with no minimum requirements
You collect the necessary information from your clients and place orders through our dedicated Partner Portal, while CorpNet acts as your silent fulfillment partner.
Options for Large Firms
Enterprise Program – Get volume-based discounts based on the number of order units placed through CorpNet.
Strategic Alliance Program – Maximize conversions and optimize the customer experience by providing CorpNet’s business filing services directly from your own website or app, via a secure, encrypted API or co-branded interface.
Become a CorpNet Partner Apply today at CorpNet.com/Partners
ImportantDisclaimer CorpNet®isadocumentfilingserviceandCANNOTprovideyouwithlegal,tax,orfinancialadvice CorpNetisnotalawfirm Wearenot yourattorneynorareweyouraccountant,norareweasubstituteforanattorneyoranaccountant,oranyotherprofessionalservice provider Wearesimplyadocumentfilingcompanythatprovidesassistancetoyouinrepresentingyourself Noattorney–clientrelationship isformedbetweenyouandCorpNetoranyofCorpNet’sshareholders,subsidiaries,affiliates,directors,officers,employees,independent contractors,representatives,oragents,regardlessofwhetheranyofthoseindividualsareattorneys TheinformationprovidedontheWeb Siteisgeneralinformationonlyregardingentityformationandrelatedtopicsandshouldnotberelieduponbyyouaslegaladvice Althoughwereviewyourdocumentsforcompleteness,spelling,grammar,andinternalconsistency,wedonotreviewyourdocumentsfor legalsufficiencynordoweprovideanysubstantivelegalreviewormakelegalrecommendations WhenyouuseourServices,youareacting asyourownattorney Settingupabusinesscanbecomplexandfailingtoobtainadvicefromlicensedprofessionalscanbecostly We stronglyrecommendthatyouseektheadviceofanattorney,anaccountant,andanyotherserviceproviderasneededtoreviewyour individualfactsandcircumstancestomakesureyouaremakingthebestchoicesforyourbusiness PleaseseeCorpNet'sfulltermsandconditions,andlinkhere:https://wwwcorpnetcom/legal/terms-and-conditions/
About CorpNet
Philip and Nellie Akalp are an attorney husband and wife team, based in Southern California. They have founded several document filing companies in the past and with their hand-chosen team now bring to you, CorpNet, their signature company. CorpNet is based on the simple philosophy of truth in business as well as the Akalps’ joint desire to assist small business owners and entrepreneurs with getting their business off the ground in a fast, reliable, and affordable manner
CorpNet provides required document filing services in all 50 states for a variety of business needs, such as forming your own Corporation or Limited Liability Company (LLC), filing a DBA/Fictitious Business Name, Foreign Qualification Filings, Registered Agent Representations, Corporate Compliance Services, and much more