Forfeited Corporate Entity means that the company is banned from the State where it was incorporated and can no longer conduct business. In that state, the company also loses rights to its name and the ability to enforce contracts. The business also loses the right to sue other companies or individuals.
Unfortunately for the company it still must pay the taxes it owes to that state as well as any other fees that occur. However, being labeled as “forfeited” does not come out of thin air. For example, with the State of Maryland, the company will receive a couple of months’ notice if they are at risk of being forfeited.
In short, there is plenty of time to fix whatever, problems exist so that the state does not continue with the process of corporate forfeiture.
Reasons A Company Become A Forfeited Corporate Entity
In most cases, a corporation becomes at risk of forfeiture only after it is no longer in good standing with the state it is incorporated. There are several reasons that a corporation can fall into bad standing. This only happens when a corporation fails to fulfill its legal obligations to the state.
What Are The Solutions To Forfeited Corporate Entities
The solution is called revival. This will reverse the forfeited status and you will again be clear to operate in that state. To do this, you must provide evidence that you have corrected the issues that resulted in the forfeiture.
You will need to show the Annual Report and Business Personal Property Returns, you must also pay all fees and fines. However, once you have gone through this process the corporation will again be in good standing with the state and the forfeited corporate entity can again operate in the state.
It should be noted that the exact process varies from state to state. Some states will be easier to deal with and some will be harder so make sure that you have done your homework on the laws and regulations surrounding your business and the state’s guidelines.
I am fighting a dispute with AKUMIN IMAGING TEXAS, LLC. The NPI status for this company is forfeited as of 11/16/21. After numerous attempts to correct their continuous billing errors, I am writing to you to see what can be done to expedite this company’s continuous efforts to collect fees for services I DO NOT OWE.
Please let me know what options I have available to me. I have WellMed insurance and have paid in full BOTH of my $125.00 fee for an MRI with/without contrast.
This company continues to attempt to the 12/18/21 fee. Paid in full since their processing machine was not operational on that date. Therefore, I made a phone payment on 12/20/21.
The second issue is an attempt to collect $222.00 from an MRI with contrast on 6/10/22. This outstanding balance is due to Akumin attempting to charge an additional $91.00 for CPT code A9575.
A $6.00 fee was on the original EOB due to Akumin including a secondary insurance carrier of BCBS. (Which I do not have a secondary policy)
And finally, them NOT acknowledging the second $125.00 payment made on the Date of Service (6/10/22).
I have been on the phone with UHC/WellMed on two different occasions correcting the secondary coverage of BCBS. The second ticket is #22081102086. These tickets should have corrected the $6.00 outstanding balance the billing department refuses to eliminate from my account balance.
These constant errors by Akumin Billing Depart in Dallas, Texas has resulted in UHC/WellMed and me MULTIPLE HOURS on the phone. To date, I am still receiving Past Due notices (last one dated 8/11/22) for $222.00.
Could some please assist me in these efforts? I can be reached at the following website.
Thank you.