State requires owners to register in new year
The beginning of the new year means tens of thousands of companies doing business in Rhode Island must file annual reports with Secretary of State Ralph Mollis.
State law requires corporations to submit annual reports beginning this month. About 30,000 companies ranging from car dealers to mortgage lenders to restaurants are subject to the requirement.
To file on-line, visit SOS.ri.gov and click on the “File annual reports” link. Every company has been assigned its own unique customer ID number and personal ID number order to ensure security.
“Our customers have really embraced the upgrades we made a few years ago,” said Mollis. “About half the annual reports filed in 2012 came via the Internet. Improvements like this make it easier for companies to do business in Rhode Island.”
Failure to file an annual report can result in the revocation of a corporation’s certificates. At other times of the year, nonprofit corporations and limited liability companies are also required to file with the state.
Mollis posts the reports on his website. The public can search the database by the corporation’s name, location and type of business among other criteria. There is also contact information for every company’s primary official.
“This transparency is consumer friendly and ensures that the public has a place to turn for information about businesses,” said Mollis.
The state works with every corporate entity registered to do business in Rhode Island – 60,000 in all.