<SEC-DOCUMENT>0000899243-16-035552.txt : 20161214
<SEC-HEADER>0000899243-16-035552.hdr.sgml : 20161214
<ACCEPTANCE-DATETIME>20161214170815
ACCESSION NUMBER:		0000899243-16-035552
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20161213
FILED AS OF DATE:		20161214
DATE AS OF CHANGE:		20161214

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RAND CAPITAL CORP
		CENTRAL INDEX KEY:			0000081955
		IRS NUMBER:				160961359
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2200 RAND BUILDING
		CITY:			BUFFALO
		STATE:			NY
		ZIP:			14203
		BUSINESS PHONE:		7168530802

	MAIL ADDRESS:	
		STREET 1:		2200 RAND BUILDING
		CITY:			BUFFALO
		STATE:			NY
		ZIP:			14203

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			COLMAC HOLDINGS LTD
		CENTRAL INDEX KEY:			0001032435

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00235
		FILM NUMBER:		162051740

	BUSINESS ADDRESS:	
		STREET 1:		8 KING STREET EAST
		STREET 2:		SUITE 1901
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 1B5
		BUSINESS PHONE:		416-366-4820

	MAIL ADDRESS:	
		STREET 1:		8 KING STREET EAST
		STREET 2:		SUITE 1901
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5C 1B5
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2016-12-13</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000081955</issuerCik>
        <issuerName>RAND CAPITAL CORP</issuerName>
        <issuerTradingSymbol>RAND</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001032435</rptOwnerCik>
            <rptOwnerName>COLMAC HOLDINGS LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>8 KING STREET EAST</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1901</rptOwnerStreet2>
            <rptOwnerCity>TORONTO</rptOwnerCity>
            <rptOwnerState>A6</rptOwnerState>
            <rptOwnerZipCode>M5C 1B5</rptOwnerZipCode>
            <rptOwnerStateDescription>ONTARIO, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2016-12-13</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>810000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Prior to effecting the sales, Colmac Holdings Ltd. sold its 810,000 shares of common stock of Rand Capital Corporation to its affiliate, Georgian Villas Inc. Georgian Villas Inc. then effected the sales in a series of private transactions on December 13, 2016.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Robert S. McLeese, President</signatureName>
        <signatureDate>2016-12-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
