I have a business that sold its business in 2001, but we did not find out about it until this year. We did annual reviews and the business kept telling us there was no change in control. The EIN, business name, account number, and treasurer that completes our annual review forms has not changed. What should we do? Any help would be greatly appreciated.

If you did not know, then you did not know.

I'm assuming that this is a Phase II exemption. I'm also assuming that you reviewed their filings at your Secretary of State's web site when you did your annual review and the change in ownership was not apparent there or through review of any other dealings they may have with your bank; e.g. borrowings.

If my assumptions are correct, I don't see any basis for criticism. Either way, when you file your next required biennial renewal, check the appropriate box and go on. A change in control does not trigger a filing requirement, but it should be noted on the next form you file.

We did the annual reviews and nothing indicated a change in ownership. It is a phase II exemption. Thank you so much for your help!!