Here are the things you should do to abandon an offering that has no assets and no members:
- Hold a meeting of members of the Asset Management Entity (if applicable);
- Take meeting minutes and a vote to abandon the offering; create a resolution to record the vote and keep it in a folder with your corporate filings.
- Have your Registered Agent (RA) file dissolution forms with the Secretary of state for all entities created for this offering (Investor, asset manager, and title holding entities). The RA will let you know if there are any publication requirements. You should do this and make it effective before the end of the year.
- Our law firm can file a notice of abandonment with the SEC. We will charge $150 for this. Sandra Bryant is the person who can help you with this.
- Check with your CPA to see if there are any notice filings you need to do with the IRS.
- Schedule call with us if you have any questions.
