Once your Rhode Island LLC is created, you must adhere to your state’s filing dates in order to maintain good standing and prevent costly fines or penalties.
This article addresses the following issues for a Rhode Island limited liability company:
What exactly is an annual report?
How do I submit my yearly report?
Should I use a registered agent?
Table of Contents
What Exactly Is an Annual Report?
An annual report is a routine file in Rhode Island that your LLC must do every year to update your company information, which includes:
NAICS number
Business personality
Address of the company (es)
Managers’ names and addresses
This report is intended to keep your company records current with the State of Rhode Island. This enables creditors and other interested parties to locate your company address in the event that they need to contact you. This information is used by the government to trace the payment of your LLC state taxes.
You may use an NAICS Code Lookup to locate the NAICS Code for LLC that corresponds to your industry.
How Do I Submit My Annual Report?
Your Rhode Island LLC annual report may be filed with the Department of State. You’ll need your state entity ID number, which you may get from the corporate database. To file online, filers must have a Customer Identification Number and a PIN.
Should I Hire a Registered Agent?
A registered agent, also known as a resident agent in Rhode Island, is a person or entity designated by your firm to receive and submit documents on your behalf. You may guarantee that your LLC’s reports are always submitted on time to the relevant government agency by employing a registered agent service. The following are the three primary benefits of employing a registered agent service for your LLC:
Avoid late filing penalties: The Department of State has the authority to dissolve a Rhode Island LLC that fails to submit an annual report. A registered agent service will remind you when reports are due and, for an extra cost, will submit the file for you.
Gain flexibility: A registered agent service may receive and submit paperwork for your LLC during normal business hours, allowing you to avoid working from 9 a.m. to 5 p.m. every week. You may also employ a registered agent service to create an LLC in states where you do not already have a company presence.
Keep your personal address out of public records: Using a registered agent service helps you to keep your personal address out of public records, preserving your privacy. Furthermore, if your LLC is sued, the lawsuit will be served at the registered agent’s address rather than your place of business.
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