Filling out the Pennsylvania Articles of Incorporation form is an important step in starting a business. However, many people make mistakes that can delay the process or lead to complications down the line. One common error is failing to choose an appropriate name for the corporation. The name must be unique and not already in use by another business in Pennsylvania. It’s essential to check the name availability before submitting the form.
Another mistake is neglecting to include the correct number of shares the corporation is authorized to issue. This section is crucial because it determines how ownership will be divided among shareholders. If you understate or overstate the number of shares, it can create issues in the future when you try to bring in investors or distribute shares.
People often overlook the importance of providing a registered office address. This address is where official documents will be sent, and it must be a physical address in Pennsylvania. A P.O. Box is not acceptable. Without a valid registered office, the corporation may face legal challenges or fail to receive important correspondence.
Another frequent error is not including the names and addresses of the incorporators. This information is necessary to establish who is responsible for forming the corporation. Leaving this section blank can lead to delays in processing the application.
Many individuals also fail to specify the purpose of the corporation adequately. While Pennsylvania allows for a general purpose statement, being too vague can raise questions during the approval process. It’s better to be clear about what the business will do, even if it’s just a brief description.
Additionally, people sometimes forget to sign the Articles of Incorporation. This may seem minor, but without a signature, the form is incomplete. Make sure that all required signatures are present before submission to avoid unnecessary delays.
Lastly, some individuals submit the form without including the appropriate filing fee. Each submission requires a specific fee, and failing to include this payment can result in the rejection of the application. Always double-check the fee structure before sending in your documents.