IWD, secretary of state streamline business reinstatement process
BPC Staff Mar 4, 2021 | 9:19 pm
1 min read time206 wordsAll Latest News, Economic Development, Iowa News
Gov. Kim Reynolds and Secretary of State Paul Pate have announced a new interagency partnership with Iowa Workforce Development to assist Iowa businesses with the reinstatement process through the secretary of state’s Fast Track Filing system. Business owners whose companies have been dissolved are now able to use an online system that is shared by the secretary of state’s office and Iowa Workforce Development. The partnership aims to reduce the reinstatement period from two to four weeks to just a few days. “This is another important step in providing Iowa’s business community with the service it deserves,” Pate said. “Our Fast Track Filing system has greatly reduced processing time for businesses filing with our office. Now, by partnering with other state agencies, we can help entrepreneurs cut through the red tape even faster.” The two agencies process about 2,500 reinstatements per year. Reinstatements are required when an Iowa business entity is dissolved after missing a deadline for a required filing or failing to maintain a registered agent. The secretary of state’s office worked with a local vendor, QCI, to bring Fast Track Filing online in 2018. Since its inception, more than 500,000 filings have been processed through Fast Track, including nearly 57,000 new Iowa business formations.