The Coast Guard said they received a report of a boat fire around 11 a.m. Thursday about 2.5 miles southeast of Point Judith.
The three people on board were safely rescued and brought to shore by a crew from STA Point Judith. They were then transferred over to local EMS, the coast guard says.
Just after 1 p.m. the fishing boat began to take on water and sank to a depth of around 105 feet.
The three people on board didn’t require a hospital visit, according to the coast guard.
A stress beacon went off to help aid the location of the boat.