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Resolution to Adopt a Fiscal Year

Sample Corporate Resolution

A resolution to adopt a fiscal year allow members (LLC) or Board of Directors (Corporation) to adopt the period of the fiscal year of the company.

A fiscal year lasts one year. It does not necessarily need to start at the beginning of the calendar year. A fiscal year, for example, may begin on June 1st and end on May 31st. The period for a fiscal year ends on the 31st day of the respective month. It may begin on or after the 1st day of the month.

This resolution is made after incorporating the business and adopts the first fiscal year of the company as well as subsequent fiscal years.

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Sample Corporate Resolution to Adopt a Fiscal Year [Template]
(Text Only Version)

COMPANY NAME

Resolution to Adopt a Fiscal Year

WHEREAS, the Corporation desires to adopt a Fiscal Year, be it:

RESOLVED, that the Corporation adopt the fiscal year beginning on START DATE and ending END DATE

The undersigned hereby certifies that he/she is the duly elected and qualified Secretary and the custodian of the books and records and seal of COMPANY NAME, a corporation duly formed pursuant to the laws of the state of STATE and that the foregoing is a true record of a resolution duly adopted at a meeting of the DIRECTORS/MEMBERS and that said meeting was held in accordance with state law and the Bylaws of the above-named Corporation on TODAYS DATE, and that said resolution is now in full force and effect without modification or rescission.

IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the above-named Corporation this DAY OF THE WEEK, CURRENT MONTH of CURRENT YEAR.

SECRETARY NAME, Secretary


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What kind of information do I need to create a resolution to adopt a fiscal year?

The purpose of any corporate resolution is to document the actions the board of directors will take on behalf of a corporation. When you create a resolution to adopt a fiscal year, you need to include the following information:

  1. The legal name of the corporation
  2. Number of stocks the corporation will acquire
  3. Shares of the common stock
  4. Shares representing percentage of ownership
  5. The state where the business is formed
  6. Information about the directors/members
  7. The date on which the agreement to carry out said resolution is made
  8. The current day, month, and year when the agreement is signed
  9. Signature and date signed

This resolution must document the actions that are authorized to be taken by the business and should be stored along with your corporate records.

Frequently asked questions

Yes. You will need to draft a document known as a directors' resolution authorizing stock transfer. It is a corporate resolution that ensures the company shares may be eligible for transfer from one party to another party.

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