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Iowa launches improved reinstatement process to aid small businesses

This news story was published on March 5, 2021.
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Paul Pate

DES MOINES – Governor Kim Reynolds and Secretary of State Paul Pate announced a new interagency partnership with Iowa Workforce Development to assist Iowa businesses with the reinstatement process through the Iowa Secretary of State’s Fast Track Filing system. Business owners whose companies have been dissolved are now able to utilize an online system that is shared by the Secretary of State’s Office and Iowa Workforce Development. This will reduce the reinstatement period from 2-4 weeks to just a few days.

“Iowa small businesses always look for ways to be innovative and dynamic in how they serve their customers, and state government should be no different,” said Gov. Reynolds. “This partnership makes the reinstatement process more accessible, efficient, and significantly reduces wait times from 2-4 weeks to just 1-2 business days. I commend Secretary of State Paul Pate and IWD Director Beth Townsend for their collaborative approach to improving the reinstatement process.”

“This is another important step in providing Iowa’s business community with the service it deserves,” Secretary 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. This will help more businesses succeed.”

The Secretary of State’s Office collaborated with Iowa Workforce Development to develop the interagency system. Both agencies must review and approve applications to reinstate Iowa businesses. Under the previous system, reinstatements were processed solely on paper, which necessitates data entry, cashiering and correspondence be handled manually by State of Iowa staff in separate agencies. Now those functions are handled jointly online and correspondence is via email instead of postal mail.

“Iowa businesses will benefit greatly from the new system because reinstatement applications will be processed in just a few days compared to several weeks under the old paper-based process. With reinstatement wait times significantly reduced, businesses can re-open their doors faster, which is good news for employers, employees, and Iowans across the state,” said Beth Townsend, director of Iowa Workforce Development.

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.

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One Response to Iowa launches improved reinstatement process to aid small businesses

  1. Avatar

    Bill Wallet Reply Report comment

    March 5, 2021 at 12:16 pm

    An average business should receive ‘the’ minimum of $50,000. Most states are receiving the base amount. That was the design when funding took place. Only getting $10,000? Cookie jar status or organized swindle? Take your pick. Take the $168 billion giving out at the first trillion dollar giveaway. Only 5 billion has been spent. AND a boat load more is coming when they pass the stimulus today! This is just for Education Only. So lets see. Spring Break is here. Pack those beaches? The Music Man parade is coming up. Let’s pack the sidewalks and streets? Then there’s the beauty of Ragbri. Brining in people from all over tooling around rural Iowa. And the CDC health people are cautiously saying the vaccine protection is good for 3 months? For good measure throw in another packed event or two this summer and we are going to be set for more stimulus! What are you going to do? Get another shot when people out there still don’t got one. You should be focused on ‘SCHOOL’ reopening in September. Getting to that point using CAUTION. But you see the dumbness spreading in Texas, Alabama, etc. With dumb, dumber, and dumbest lurking about we should be receiving the “next’ stimulus in October. Poor bastards. They’re wrong.