How do I minimize a WinForms application to the notification area?

What about the option of hiding the form when minimized then showing once you click on the tray icon?

In the form resize event, do the check there and hide the form

   private void Form_Resize(object sender, EventArgs e)
    {
        if (WindowState == FormWindowState.Minimized)
        {
            this.Hide();
        }
    }

Then when clicking on the taskbar icon just restore it.

    private void notifyIcon_Click(object sender, EventArgs e)
    {
        this.Show();
        this.WindowState = FormWindowState.Normal;
    }