Business can find annual reports online

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By The Staff

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 can obtain their 2009 annual reports immediately by visiting the Kentucky Secretary of State’s website.

All Corporations, Limited Liability Companies (LLCs), Partnerships, Limited Liability Partnerships, Business Trusts, and Professional Service Corporations (PSCs) that are registered with the state, are required to file an annual report by June 30 of each year. 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 the Secretary of State has worked to increase the availability of the reports through its website as well as earlier mailings to all business entities.

Grayson notes that there is a change in the courtesy mailing that is typically sent to the principal office address of each company. In order to cope with severe state budget cuts, the Office of the Secretary of State will now only send a small postcard with an image of the annual report, instead of a full mailing with the annual report printed on an 8.5”x11” piece of paper. This reduces the cost of each annual report piece mailed from $0.45 to $0.27, at an annual cost-savings of over $32,000. The postcards still allow companies to make small changes on the card to send back to the Office of the Secretary of State, but a vast majority of filers will make no changes to their annual report and can simply check a box to indicate as such. If substantial changes need to be made, the company can print the full-size annual report online or file the report online.

 “This change will not only save money for the taxpayers of Kentucky, but will also allow our office to further our commitment to reducing our impact on the environment,” commented Grayson.

Secretary Grayson urges all business entities to “save time and file online” by making use of the online annual filings at www.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 website. 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 can be entered.

 “It is important that we provide businesses in Kentucky great flexibility and accessibility to their government,” stated Secretary of State Trey 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 Secretary of State 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 Office of the Secretary of State’s online services, visit: www.sos.ky.gov/online.