Secretary of State Mollis Reminds LLCs That Annual Reports Are Due

Secretary of State A. Ralph Mollis is reminding the thousands of limited liability companies registered with his office that state law requires them to file annual reports with his office beginning in September.

Approximately 20,000 Limited Liability Companies (LLCs) ranging from car dealers to mortgage companies to restaurants are subject to the requirement.

Secretary Mollis posts the filed reports on his website at sos.ri.gov. The public can search the database by the name of LLC, the location and the purpose among other criteria. Contact information is provided for each company.

“This transparency is consumer-friendly and ensures that the public has a place to turn for information about businesses,” said Mollis. “Filing annual reports shows their commitment to openness, and that can make consumers feel more confident about doing business with them.”

LLCs are a type of business entity that has the liability-shield advantages of a corporation and the flexibility and tax pass-through advantages of a partnership.

Thanks to improvements to the Secretary of State’s website, LLCs can file online. Every LLC has been assigned its own unique Customer Identification Number and Personal Identification Number in order to ensure security.

“Our customers have really embraced the upgrades we have made. More than half the annual reports filed last year came over the web,” said Mollis. “We’re making it easier for companies to do business in Rhode Island.”

LLCs can also choose to file by mail or in person at the Secretary of State’s Business Services Division, 148 West River St., Providence, during normal business hours.

Failure to file an annual report can result in fines and the revocation of an LLC’s Certificate of Organization or Certificate of Registration. Those certifications provide them with the legal basis for conducting a variety of business-related activities in Rhode Island.

At other times of the year, non-profit and for-profit corporations are also required to file annual reports with the Secretary of State.

“Under state law, my office is responsible for corporate record-keeping. I am committed to giving Rhode Islanders access to current and accurate information. The business community deserves credit for being my partner in this effort,” said Mollis.

The Secretary of State’s office works with every corporate entity registered to do business in Rhode Island – 60,000 in all. The office also oversees recording commercial liens and protecting corporate trademarks and provides advice to start-up businesses.

Secretary of State Mollis is committed to making it easier for Rhode Islanders to vote, making it easier to do business in Rhode Island and making government more open and accessible. For more information about the programs and services the Secretary of State offers Rhode Islanders, visit sos.ri.gov.

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