Extract from the Unified State Register of Legal Entities – what does it say about the company
Why an extract from the Unified State Register of Legal Entities is needed and what information about the company can be found out from it:
1. Checking a legal entity:
The extract allows you to make sure that the company really exists, operates legally and is not in the process of liquidation. This is especially important when concluding large contracts, investing or obtaining a loan.
2. Finding contact information:
The extract contains the full details of the company (OGRN/INN), including the address and email.
3. Determining the status of the company:
The extract shows the status of the company: is it active, is in the process of liquidation, has been excluded from the register, or has restrictions on its activities.
4. Monitoring the accuracy of information:
Regularly checking the information in the extract allows you to make sure that the information about the company is not outdated and has not been changed unilaterally.
How to get an extract from the Unified State Register of Legal Entities?
It is possible to get an extract from the Unified State Register of Legal Entities for free on the website of the Federal Tax Service (FTS). To do this, it will be necessary enter the exact tax identification number or registration number of the company.
What happens when a company is excluded from the Unified State Register of Legal Entities?
The FTS has the right to exclude a company from the Unified State Register of Legal Entities in the following cases:
1. Failure to submit reports: If the company does not submit financial reports for 12 months.
2. No banking operations: If the company has no banking operations for one year.
3. Inaccurate information: If the company does not correct inaccurate information about itself within 6 months.
4. Financial difficulties: If the company is unable to carry out the liquidation procedure due to lack of funds.
Exclusion from the Unified State Register of Legal Entities means that the company ceases its operations and loses the right to conduct any activity – for example, to enter into new contracts.
How to challenge the FTS decision to exclude from the Unified State Register of Legal Entities?
The founders, creditors and shareholders of the company may file an objection to the decision of the Federal Tax Service within three months, attaching documents to substantiate their arguments.
The importance of regular checks:
It is recommended to carefully check information about the companies with which you are going to do business. Regular checks using an extract from the Unified State Register of Legal Entities will help protect you from unpleasant surprises and reduce the risk of errors when concluding contracts.