Close - Withdraw Your Trade Name

If you no longer wish to conduct business under a registered RI trade name, you may file a withdrawal document to abandon the business name. A withdrawal can be filed online using the trade name online filing system. If you fail to file a withdrawal and do not file an annual renewal, the trade name will be involuntarily cancelled.

Before you file a withdrawal, you should make sure to complete these additional requirements, if applicable:

  • If you had employees, you’ll have to comply with employment and labor laws.
    • You’ll also have to terminate your Employer Account with the Rhode Island Department of Labor and Training’s Employer Tax Division. You can submit a completed Employer Termination of Registration Report (TX-13) along with all outstanding employer tax forms, including any past due Quarterly Tax & Wage Reports (TX-17). A business’s final Quarterly Tax & Wage Report must be filed within 10 days of ceasing operations.
    • For forms and assistance, please visit dlt.ri.gov or call (401) 574-8700.
  • Resolve financial obligations.
    • You should notify all lenders and creditors of your plans to withdraw your trade name and settle remaining debts. It’s a good idea to discuss your financial obligations with your accountant, attorney, and insurers to verify that you have accounted for everything.
    • You may need to close out your business bank account(s) and cancel your business credit cards. Consult your accountant, attorney, and financial institution before closing any account(s).
  • Contact the RI Division of Taxation and your city/town tax collector to make sure you have paid all tax obligations in full.
  • Cancel registrations, permits, and licenses.
    • Cancel all licenses and permits that you will no longer need. This may include a retail sales permit through the RI Division of Taxation, professional licensing through another RI state agency, and municipal permits or licenses through your local city or town. If you do not cancel your licenses and permits, you may be liable for fees. Contact your attorney and/or accountant for more information on your specific requirements.
  • If you obtained an EIN from the IRS, you must cancel it and close your IRS business account.
    • Send a letter to the IRS that includes the complete legal name of the business (the trade name), the business EIN, the business address, and the reason you wish to close the account.

Once you’ve filed a withdrawal, confirm that the filing was accepted by checking your email and/or searching the RI Trade Name Database. In most cases, a business is obligated to maintain records, particularly tax and employment records, even after the trade name has been withdrawn. Recordkeeping requirements range between 3-7 years in most instances, but you should contact an attorney and/or accountant for more information on your specific requirements.