Closing a business is a multistep process and we encourage you get help from your attorney and/or accountant. The following information is not intended as legal advice, these guidelines are provided to help you better navigate the filing process.
+ Dissolution Documents
- Complete and remit for filing a Statement of Voluntary Withdrawal with the Department of State. The Statement must be signed by a majority interest of the partners or by one or more partners authorized to sign a withdrawal [RIGL 7-12-56(e)] There is no fee for this filing.
- Paper filings received in person or by mail are processed within two days of receiving the filing. For more information see Filing Confirmation/Rejection.
- Businesses should also close their Employment Identification Number (EIN) account with the Internal Revenue Service. Closing your EIN account notifies the IRS that you're not planning to use the number in the future.
+ Cancel Registrations, Permits, Licenses and Business Name
- Cancel all licenses and permits that you will no longer need. If you do not cancel, you may be liable for fees. Contact your attorney and/or accountant for more information on your specific requirements.
+ Maintain Records
- You may be legally required to maintain records, particularly tax and employment records, even after your business has closed. Record keeping requirements range between 3 to 7 years. Contact your attorney and/or accountant for more information on your specific requirements.