To qualify for S corporation status, a corporation must meet all of the following requirements: It must be a "domestic" corporation. Entrepreneurs must file form 2553 to select S corp status within 75 days of creating their LLC or C corporation.Enter the complete name and address of the S corporation. Shareholder Information. Corporations typically hold several required formal meetings each year. The exact requirements vary depending on state laws and your corporation's bylaws. Total cost, time, and step-by-step instructions on how to incorporate in Utah. Do it yourself or purchase our incorporation service. Annual Meeting of Shareholders Utah corporations must hold meetings of shareholders annually, at the time and date stated in the by-laws. Utah requires corporations to file an annual report before the anniversary date of the incorporation.