Rhode Island LLC Annual Report – File an LLC Annual Report in Rhode Island


Save time & be confident while starting your Rhode Island LLC; use best professional help -
#1 TOP PICK
 TailorBrands - ($49 + State Fees) Online Rhode Island LLC Setup
rhode island_state_seal

The objective of the annual report is three-fold. The annual report keeps the Government informed about all the updates, communicates about all the modifications or changes, & keeps the LLC members informed about the necessary taxes and costs. This article has all the information about Rhode Island LLC annual report filing in Rhode Island.

An annual report can be called an address book, as it features all the relevant addresses of the company & the members. This yearly report is a record of all the company’s activities in an entire year. It is also referred to as the Annual Franchise Tax Report because it helps in filing the franchise tax.

Contents of the Annual Report

Typically the annual report filed by a Rhode Island LLC (or any other business entity for that matter) will include all the information related to its business & members. The standard contents of the annual report  or the annual franchise tax report are

  • Office Address of the LLC
  • Names & Addresses of the Members & managers.
  • Identification Documents
  • Social Security numbers of the key members of LLC
  • The objective of the business of LLC
  • List of all the signatories of the LLC
  • Information of the registered agent, if any

Rhode Island LLC Annual Report

An Annual report is essential for all business types. It authenticates that the information provided to the Secretary Of the State is accurate & updated. The information provided in the annual report helps the State officials to ensure that all the companies pay taxes. The Rhode Island Annual Report is filed with the Rhode Island Department of State.

Does the State of Rhode Island Require an Annual Report Filing?

Every business entity in Rhode Island must file an annual report with the Rhode Island Department of State. This rule applies to all the legal entities such as C Corporations, Limited Partnerships, Limited Liability Companies, bound to file the Annual Report.

Annual Report Deadline

As mentioned above, filing the Annual report is a mandatory requirement even for an LLC. An LLC operating in Rhode Island has to file the Annual report with the Rhode Island Department of State between September 1st & November 1st every year.

Penalties for Non-filing or late filing

An Annual Report is one of the important documents filed by an LLC. Any report filed after December 1st may result in a late fee of $25. If there is a further failure in filing the report, it may result in the dissolution of the LLC.

Why Do LLCs Have to File the Annual Report?

Some of the states are not required to file this yearly report, commonly known as the Annual Report. However, there are some reasons why states should file an LLC Annual Report. Here are some reasons,

To Maintain the Accuracy of the Information

An annual report filed by the LLC has all the updated information about its official addresses & the names or addresses of all its officials. This updated information allows the State authorities to track down any LLC when communicating.

To Provide the Correct Correspondence

Many times, any creditor or other entity willing to transact with the LLC requires the correct correspondence address. If this information (which can only be modified with the help of an annual report) is not updated every year, such entities will not be able to communicate with them.

To Notify the Government About All the Significant Changes

If you have changed your main business address or had new business appointments of managers or members, the annual public information report notifies the State Government Entities about it. So, the next time someone questions a newer reform that you have introduced in your LLC, you will be saved because you had submitted the information with the Government.

To Provide an Activity Log of an LLC

The Annual Report is like an activity log of the LLC. It brings on record; all the transactions, new associations, appointments, etc. & keeps those records intact for all future references.

To Help You With the One-time Filing of Taxes

The annual report is an excellent means to keep you on your toes in case of your dues payment. Every LLC must pay the taxes through the annual report filing. By filing the report on time, the LLC can manage the exemptions & can avoid penalties imposed by the Government. 

To Enable the State to Track the Payments

The government authorities use all the information filed through the annual report, for tracking the payment of State Taxes.

How to File a Rhode Island LLC Annual Report

The Rhode Island LLC Annual Report can be filed online or by mail. An LLC operating in Rhode Island has to file the Annual report with the Rhode Island Department of State between September 1st & November 1st every year.

Steps to File Rhode Island LLC Annual Report Online

Time needed: 5 minutes.

Below is the procedure to file the Rhode Island LLC Annual Report online.

  1. Visit Rhode Island’s Department of State Website.

    The first step in filing the Rhode Island Annual Report is to visit the Rhode Island Document Library. rhode-island-llc-annual-report

  2. Type “Annual Report” in the search box.

    In the search box type the phrase Annual Report & you will see the following results.rhode-island-llc-annual-report

  3. Click on the “File Online” option.

    Click on the “File Online” option next to the LLC Annual Report.

  4. Enter the Required Details & start filing the report.

    On the next prompt, enter your Customer ID number & PIN. Click on the submit button.rhode-island-llc-annul-report

Filing Rhode Island LLC Annual Report By Mail

To file the LLC Annual report in Rhode Island, you can follow the steps as mentioned below,

  • Visit the Rhode Island Document Library 
  • Write Annual Report in the SearchBox. 
  • Select the “Download” option next to the LLC Annual Report option
  • Download the form on your computer
  • Fill in the required information & send the printed copies of the forms and relevant documents to the address: Business Services Division, 148 W. River Street, Ste. 1, Providence, RI 02904

Rhode Island LLC Annual Report (Domestic & Foreign)

State Office:Business Services Division, 148 W. River Street, Ste. 1,
Providence, RI 02904
Links to Website, Forms
Due Date:An LLC operating in Rhode Island has to file the Annual report with the Rhode Island Department of State between September 1st & November 1st every year.
Filing Fee:The Annual Report filing fee is $50.
Penalty:Any report filed after December 1st may result in a late fee of $25. If there is a further failure in filing the report, it may result in the dissolution of the LLC.
Filing Method:An LLC can file the Annual Report Online or by mail.
Forms:Form 632
Important Information:Once a Domestic or Foreign Rhode Island Limited Liability Company submits the Annual Report along with the prescribed fees to the Rhode Island Department of State, the filing is said to be complete.

Seek the Help of a Registered Agent

Every State will have a different rule for filing the Annual Report. Usually, it is submitted every year, but it is submitted once in two years in some states. Some states require the filing of the report only once in ten years.

Not only the timing, the mode of filing, the proper addresses, exemptions, legality, annual report compliance, etc., have to be taken care of while paying the taxes or filing any reports with the State authorities. In many such scenarios, it is advised that an LLC appoints a Registered Agent to manage all this. Check out the best LLC service that offers all the services at an affordable price. An experienced agent is required for:

  1. Streamlining the mandatory processes & filing.
  2. Sending or receiving any documents.
  3. Reminding you about important dates of filing or payment of taxes. 
  4. Simplifying the filing procedures.
  5. Avoid any penalties.
  6. Flexibility in working.
  7. Maintaining Privacy (as it keeps your personal records off the public record)

You can read more about a Rhode Island Registered Agent here.

How Fast Can I Fill Rhode Island LLC Annual Report

LLCs operating in Rhode Island need to file the annual report between September 1 and November 1 every year with the Rhode Island Secretary of State. Late fee of $25 is charged.

You can fill out a Rhode Island LLC annual report in as little as 10 minutes if you have a good Internet connection and the proper software. Before you begin filing, you need to know your LLC’s name and the designator. The designator is a short phrase such as “Limited Liability Company” or “Limited Liability Company.” The next step is to enter your LLC’s NAICS code, which is a seven-digit number that is used by government agencies to classify certain businesses. The NAICS code can be found on page 2 of the form.

The filing fee varies by state, but in Rhode Island, the annual report fee is $50. If you want to file early and save money, you can make the payment before the deadline of November 1st. Remember that your first annual report is due within the calendar year after filing your Articles of Organization.

The Division of Business Services accepts credit cards and cash at its Providence office. You can also mail the form. It is important to make sure that the form is typed properly, as errors can affect the review process. If your form is rejected, you can resubmit it after correcting errors. The processing time can vary from one or two days to two weeks. In either case, a late filing fee of $25 will be charged.

It is essential to keep your contact information up-to-date. The state needs it to contact you for tax matters, service of process, business filings, and more. You must make sure you update this information regularly, especially if you change your registered agent. Otherwise, your LLC can fall out of good standing and face administrative dissolution.

LLCs in Rhode Island must appoint a registered agent and a resident agent. Your registered agent is the person or firm that receives official business papers from the state. The Rhode Island LLC operating agreement will detail the details of your business and who will be in charge of it. This document is similar to a prenuptial agreement, and it protects all parties.

The Rhode Island Department of State has a dedicated website for filing annual reports. You can use it to file your LLC’s annual report online. To complete this online form, you will need a customer identification number and a personal identification number. You must submit your filing before the deadline to avoid being assessed a $25 late fee.

Filing an annual report in Rhode Island is an important step for your company. Your annual report contains important information about your company and helps the state keep records updated. Thankfully, the process is easy and straightforward. There are also affordable LLC services that will do the filing for you. You will be pleased with the result.

While it may seem like a small task, completing the annual report in Rhode Island will ensure your LLC’s compliance and good standing. You can file this form online or through the mail. The Rhode Island Department of State will process your Annual Report within a few days, and you will receive an email or hard copy of your filing in the mail.

FAQs

Is it essential to file an Annual Report?

Yes, an annual report is essential for every business entity in most states. Some states also ask to file biennial or decennial reports to be filed.

What are the contents of the Annual Report?

A Yearly Business Report or the annual report typically incorporates the address of the business, names & addresses of the members, a list of all the signatories, SSN of the members, & details of the registered agent.

Why is hiring a Registered Agent necessary in filing the Annual Report?

A Registered Agent is well-aware of all the filing requirements, annual report filing fee, & overall Annual Report compliance. The knowledge & proficiency of the registered agent allows the smooth filing of reports & other fees.

What do I have to do for the annual business report preparation?

The most important thing for filing an Annual Report is record keeping. Make sure that you document every other transaction well.

Do the filing fees change as per the types of companies?

Yes, the fees may vary depending on the type of entity or the type of legal entity you are representing.

In Conclusion

An LLC has to file many types of reports, such as Application for Reinstatement, Periodic Report of a limited partnership (usually filed by the exempt nonprofit organization), etc., which are required depending on the type of entity. The Annual Report is mandatory irrespective of the entity type. It requires compliance across entities.

Leave a Comment