# DE Asset Verification 2026 (Franchise Tax)

**Linear:** MAN-44 — https://linear.app/manglasabang/issue/MAN-44/de-franchise-tax-2026-investigate-payment-status-junwon-company
**Status:** Ace is working on this
**Project:** junwonCOMPANY

## Summary

This is an **asset verification / tax reconciliation** with Delaware's Division of Corporations — not an audit. Delaware needs an officer-signed IRS Form 1120 to verify company assets and correct the franchise tax status that's showing as "due" despite payment. Same process resolved the same issue in April 2025.

## Timeline

- **Annual DE franchise tax deadline:** March 1, 2027 (next cycle, tracked by MAN-28)
- **No hard external deadline** on the asset verification itself — it's about getting the status corrected to Good Standing
- **Current bottleneck:** IRS Form 1120 (2025) must be filed first (MAN-8)

## Key Facts

- **Entity:** Junwon Company (Delaware C-Corp, File #6749592)
- **Payment:** $450 via Corp E Corp ACH on 2026-02-21
- **Status:** Delaware showing tax as not received / due
- **Process type:** Asset verification / tax reconciliation (not an audit)
- **Past pattern:** Same issue in 2025 — resolved by sending officer-signed Form 1120 to Vicki Smith at Delaware DOS

## Delaware Contact

- **Vicki Smith**, Division of Corporations
- Phone: 302-857-4618
- Email: Vicki.Smith@delaware.gov
- Address: 401 Federal Street, Ste 4, Dover, DE 19901

## Blocker

**IRS Form 1120 (2025 tax year) has NOT been filed yet.** This is a blocker — Delaware requires the officer-signed Form 1120 for asset verification, and Junwon cannot send it until it's been filed with the IRS.

**Blocking task:** MAN-8 (2026 Company Tax USA IRS) — https://linear.app/manglasabang/issue/MAN-8/2026-company-tax-usa-irs

## Action Plan

### BLOCKED — waiting on IRS filing
1. **File 2025 Form 1120 with IRS** (Junwon must do this first)

### AFTER IRS filing is complete
2. Print and officer-sign the filed Form 1120
3. Email Delaware Division of Corporations to resolve "tax due" status:
   - **To:** Ftax@delaware.gov
   - **CC:** Vicki.Smith@delaware.gov (302-857-4618)
   - **Reference:** DE File #6749592
   - **Attach:** Officer-signed Form 1120 (2025)
   - **Request:** Asset verification to correct franchise tax status (same as April 2025)
4. Confirm $450 ACH payment (paid 2026-02-21 via Corp E Corp) was received
5. Get status corrected to Good Standing

## Files

- `25.04-de-asset-verification-email-thread.md` — Past correspondence from April 2025 showing the same issue and resolution