13/10/2026
๐๐ผ๐บ๐บ๐ผ๐ป ๐๐ผ๐บ๐ฝ๐น๐ถ๐ฎ๐ป๐ฐ๐ฒ ๐ ๐ถ๐๐๐ฎ๐ธ๐ฒ๐ ๐ ๐ฎ๐ฑ๐ฒ ๐ฏ๐ ๐ข๐ฃ๐ ๐ข๐๐ป๐ฒ๐ฟ๐
A One Person Corporation may have only one stockholderโbut it still comes with corporate, tax, and reporting responsibilities.
Watch out for these common mistakes:
โ ๐ ๐ถ๐
๐ถ๐ป๐ด ๐ฝ๐ฒ๐ฟ๐๐ผ๐ป๐ฎ๐น ๐ฎ๐ป๐ฑ ๐ฐ๐ผ๐ฟ๐ฝ๐ผ๐ฟ๐ฎ๐๐ฒ ๐ณ๐๐ป๐ฑ๐ โ Maintain a separate corporate bank account and document payments to yourself properly.
โ ๐ ๐ถ๐๐๐ถ๐ป๐ด ๐ฆ๐๐ ๐ฎ๐ป๐ฑ ๐๐๐ฅ ๐ฑ๐ฒ๐ฎ๐ฑ๐น๐ถ๐ป๐ฒ๐ โ Create an annual compliance calendar and set reminders ahead of every filing date.
โ ๐ฃ๐ผ๐ผ๐ฟ ๐ฏ๐ผ๐ผ๐ธ๐ธ๐ฒ๐ฒ๐ฝ๐ถ๐ป๐ด โ Record transactions regularly and reconcile your accounts every month.
โ ๐๐ฎ๐ถ๐น๐ถ๐ป๐ด ๐๐ผ ๐ฑ๐ผ๐ฐ๐๐บ๐ฒ๐ป๐ ๐ฐ๐ผ๐ฟ๐ฝ๐ผ๐ฟ๐ฎ๐๐ฒ ๐ฑ๐ฒ๐ฐ๐ถ๐๐ถ๐ผ๐ป๐ โ Keep written resolutions and records of significant corporate actions.
โ ๐ก๐ผ๐ ๐๐ฝ๐ฑ๐ฎ๐๐ถ๐ป๐ด ๐ฐ๐ผ๐ฟ๐ฝ๐ผ๐ฟ๐ฎ๐๐ฒ ๐ถ๐ป๐ณ๐ผ๐ฟ๐บ๐ฎ๐๐ถ๐ผ๐ป โ Report applicable changes involving your address, officers, nominee, or alternate nominee.
โ ๐ช๐ฎ๐ถ๐๐ถ๐ป๐ด ๐๐ป๐๐ถ๐น ๐๐ฒ๐ฎ๐ฟ-๐ฒ๐ป๐ฑ ๐๐ผ ๐ผ๐ฟ๐ด๐ฎ๐ป๐ถ๐๐ฒ ๐ฟ๐ฒ๐ฐ๐ผ๐ฟ๐ฑ๐ โ Keep invoices, contracts, tax filings, bank statements, and supporting documents organized throughout the year.
โ ๐ง๐ฟ๐ฒ๐ฎ๐๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ข๐ฃ๐ ๐น๐ถ๐ธ๐ฒ ๐ฎ ๐๐ผ๐น๐ฒ ๐ฝ๐ฟ๐ผ๐ฝ๐ฟ๐ถ๐ฒ๐๐ผ๐ฟ๐๐ต๐ถ๐ฝ โ Remember: your OPC is a separate legal entity with its own assets, liabilities, records, and compliance obligations.
Good compliance is a year-round processโnot a once-a-year task.
Need help keeping your OPC compliant? We provide accounting, tax, and corporate compliance support for business owners.