When is the annual copy of signed tax filings due to Face Foundrie?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
- (d) An annual copy of Franchisee's signed tax filings (including all supporting schedules) as filed with the Internal Revenue Service (or any forms which take the place of those forms), and all other federal, state and local sales and use and income tax reports Franchisee is required to file, all to be delivered within thirty (30) days after filing;
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, franchisees must submit an annual copy of their signed tax filings to Face Foundrie within 30 days after filing with the Internal Revenue Service. This includes all supporting schedules and any other federal, state, and local sales, use, and income tax reports the franchisee is required to file.
This requirement ensures that Face Foundrie has access to the franchisee's financial information for compliance and performance monitoring. It is a standard practice in franchising to require franchisees to provide regular financial reports to the franchisor.
Failure to submit these reports by the deadline may result in a late submission fee of $200, as stated elsewhere in the FDD. Therefore, it is crucial for prospective Face Foundrie franchisees to understand and adhere to these reporting requirements to avoid penalties and maintain a good relationship with the franchisor.