By PBN Staff
By PBN Staff
PROVIDENCE – More than 30,000 for-profit businesses will be required to file annual reports with the Office of the Secretary of State starting Jan. 1.
Those businesses, which range from auto dealers to mortgage companies and restaurants, have until March 1 to file the reports. Nonprofits and limited liability companies are also required to file annual reports with the secretary of state at other times of the year.
Failure to file an annual report can result in the revocation of a corporation’s certificate of incorporation or certificate of authority, which are needed to conduct business in the state. Late filings can also lead to fines.
Businesses can file online or by regular mail.
“Last year, more than half of the annual reports filed were online,” Secretary of State A. Ralph Mollis said on Monday in a news release. “Our customers really take advantage of the technological advances our office has made to improve filing efficiency, while making it easier for companies to do business in Rhode Island.”
Reports are posted on the secretary of state’s website in a searchable database.
“My office is responsible for corporate record-keeping, and I am committed to giving Rhode Islanders 24/7 access to up-to-date and accurate information,” said Mollis. “The business community is my partner in this effort.
“Filing annual reports shows [a business’] commitment to openness, and that can make consumers feel more confident about doing business with them,” he said.