Welcome to the first edition of our Business Services Newsletter! The vibrant, creative, and entrepreneurial spirit of Minnesota business owners inspires our work in this office every day, and we hope you’ll find interesting and useful information within. The mission of the Secretary of State’s Office is simple: to make it as easy as possible for Minnesotans to set up and run their businesses. We want to make sure that everyone who has a business -- or dreams of starting one --  has everything they need to do just that.  

In this newsletter, you’ll find important reminders, helpful resources, and more. We look forward to continuing to provide this service. And please, let us know how we’re doing! We would love to hear from you about what works well, what needs improvement, and what other kinds of information would help you.  

It’s a great honor to be the starting point for the businesses that make Minnesota’s economy the envy of the nation. From our office, I want to extend our thanks for doing the work that you do to contribute to our shared prosperity. 

The deadline to renew your business is December 31, 2024. All registered businesses and nonprofits must renew their filing each calendar year — and for most businesses, it's free. 

Visit our website for simple, step-by-step instructions to check if you need to renew and how to complete the process. Don’t wait—renew your business today to stay in good standing!

If your business has been dissolved or is inactive, you can also find information on reinstating at the link below.

Most businesses in Minnesota are small businesses that may need to report information about their beneficial owners—the persons who ultimately own or control the company—to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). This is a new requirement that went into effect this year due to the Corporate Transparency Act (CTA).

Companies that are required to comply (“reporting companies”) must file their initial reports by the following deadlines:

• Existing companies: Reporting companies registered before January 1, 2024 must file by January 1, 2025.
• Newly created or registered companies: Reporting companies registered in 2024 have 90 calendar days to file after receiving actual or public notice that their company’s creation or registration is effective.
  • Beginning in 2025, newly created or registered companies will have 30 days.

Filing is simple, secure, and free of charge. Beneficial ownership information reporting is not an annual requirement. A report only needs to be submitted once, unless the filer needs to update or correct information.

Video: Five-Minute Demo: How to File a Beneficial Ownership Information (BOI) Report

Check out these resources from DEED’s Office of Small Business and Innovation, created to help startups and small businesses succeed.

DEED is Minnesota's economic development agency, offering programs to support business growth, attract new companies, and provide resources to help small businesses thrive.