Kentucky business entities now have access to their annual reports, including business entities that are required to file annual reports for the first time. Business entities registered in the commonwealth of Kentucky may obtain their 2008 annual reports immediately by visiting the Kentucky Secretary of State’s (SOS) Web site.
All corporations, limited liability companies (LLCs), and professional service corporations (PSCs) registered with the state, are required to file an annual report by June 30 of each year. For the first time, partnerships, limited liability partnerships and business trusts that are filed with the SOS are also required to file an annual report. Failure to file the annual report will result in the company being listed in bad standing with the office and could lead to administrative dissolution or revocation of authority to do business in Kentucky.
Prior to 2004, annual reports were typically available in March via postal mail. Since that time, the Office of SOS has worked to increase the availability of the reports through its Web site as well as earlier mailings to all business entities.
Secretary Grayson also urged business entities to save time and file online by making use of the online annual filings at sos.ky.gov/annualreports.
Citing the need to reduce costs for state government especially during these tight economic times, Grayson noted, “The easiest way for all businesses to file their annual report is to do so electronically on our Web site. In a matter of minutes, you can view your report, make any necessary changes and file it. There is no waiting or turnaround time, and by filing online, companies can help reduce the staffing burden on our office in order to further save taxpayers’ dollars.”
The report includes generated information for the company from its previous filing, saving the company the redundancy of entering the same information every year. One of the latest features of the online filing system is the option to save the report for completion at a later time. Also, there is now no limit as to how many officers, directors, or shareholders that may be entered.
“It is important that we provide businesses in Kentucky great flexibility and accessibility to their government,” stated Grayson. “The continued improvement of the annual reports branch of our office not only benefits Kentucky businesses, but the greater efficiencies honor the commitment I made to Kentucky taxpayers to be a good steward of their tax dollars.”
The Office of the SOS is entrusted with filing, maintaining and preserving the important documents and records of the commonwealth and her people. Access to documents not found online is available at the State Capitol Building in Frankfort, KY. To access all of the SOS’s online services, visit: sos.ky.gov/online.