R.I. companies’ annual reports due by March 1
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COURTESY R.I. SECRETARY OF STATE
“AN ANNUAL REPORT is a vehicle for promoting your company,” said R.I. Secretary of State A. Ralph Mollis. “Filing demonstrates your commitment to openness and showcases your officers and directors, and that can provide peace of mind to people considering doing business with you.”
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PROVIDENCE – Companies doing business in Rhode Island have until March 1st to file their annual reports with the Secretary of State’s Office or risk losing their corporate status.
Rhode Island law requires for-profit corporations to report certain data, including names and contact information for all corporate officers and members of their boards of directors, between Jan. 1 and March 1 of each year. “More than 35,000 companies that are registered to do business in Rhode Island are subject to the requirement,” the office said.
Businesses that miss the deadline face a late-filing fee of $25. Companies that fail to file risk revocation of their Certificate of Incorporation or Certificate of Authority, documents that provide the legal basis for conducting direct sales and a variety of other business-related activities. In 2006, more than 2,600 firms lost their certificates.
On the plus side, “an annual report is a vehicle for promoting your company,” Secretary of State A. Ralph Mollis said in a statement. “Filing demonstrates your commitment to openness and showcases your officers and directors,” he added, “and that can provide peace of mind to people considering doing business with you.”
Filers may submit their information by mail or in person at the Secretary of State’s Office, 148 West River St., Providence, RI 02904-2615. Or they may take advantage of the online option that became available last year (READ MORE), submitting their reports by going to www.sec.state.ri.us/corps and clicking on the “File Corporations Online” link.
Each corporation has been assigned a unique customer identification number (CIN) and personal identification number (PIN) to ensure security, the office said. Additional information is available at the Web site above or by calling (401) 222-3040.
Similar annual reports also must be filed with the state – at other times of year – by limited-liability companies (LLCs) and nonprofit corporations. Reports from nonprofits are due by June 30, while reports from LLCs are due by Nov. 1.
Other business services provided by the Secretary of State’s Office include advising small businesses and startups and overseeing the recording of commercial liens and the protection of corporate trademarks.
“State law makes my office responsible for corporate record-keeping,” Mollis said, “and we are committed to giving the public easy access to current information. The business community deserves recognition for contributing to that goal.”
News and information from the R.I. Office of the Secretary of State, including information on business services, are available at www.sec.state.ri.us.