What is a Registered Agent?
A registered agent is a legal service that helps businesses comply with state filing requirements.
Many companies choose to use a registered agent service because it can save time and money.
A registered agent can help with the paperwork associated with starting a company and provide ongoing support as the business grows.
Whether starting a blogging business from home or a brick-and-mortar business, you will likely need to satisfy the requirements of your state’s business entity laws.
In this article, I will share with you all you need to know about registered agents, including what they do and how to select the right one for your business.
Whether forming a limited liability company (LLC), a corporation, or any other type of business entity, keep reading to learn everything about what choosing the right legal service for your business entails.
Amongst other things, professional registered agents are businesses that provide a physical business address for other companies.
This allows companies to have a place to receive legal and official documents and a way for the public to find them.
For the public record, one must also provide a registered office for the business.
This means that for both small and large businesses, it is beneficial to have a registered agent so that their home address is not made public – even though one can use such an address (provided they satisfy certain conditions – more on this later).
Process service is another reason businesses may need a registered agent.
This refers to the legal notices and paperwork that needs to be served when someone sues a company.
In addition, creating items such as specific annual reports, articles of organization, as well as responding to other government correspondence (along with other important documents that require a legal service to notarize) can be more easily done with the help of a registered agent.
Ensuring such documents are responded to promptly is also essential for maintaining good standing with the state.
Here are the requirements for being a registered legal agent:
- The company’s registered agent must be available during normal business hours at the registered office to receive documents on behalf of the company.
- The registered agent must also be able to forward any notices, notifications, or document that is served on behalf of the company to the appropriate person within the company in a timely manner.
With the above in mind, there are many benefits for business owners to have having their own registered agent, such as:
- You will have a physical office address in the state where your business is registered, which can be used as your company’s address. This can be beneficial if you do not have a physical location in terms of your place of business.
- Your registered agent will be available during regular business hours to accept legal documents and correspondence on behalf of your company. This can be helpful if you cannot be available during such hours due to various responsibilities.
- Your registered agent will be responsible for forwarding any legal documents and correspondence to you on time. This can help ensure that you are aware of any critical information or deadlines related to your business.
- Your resident agent will provide your company with an extra layer of privacy by keeping your personal information confidential.
- From forming partnerships to handling annual reports, the best-registered agent services will also offer various services to meet your business’s needs.
Depending on the state you form your LLC, you might not need a registered agent.
You can act as your registered agent or appoint someone else in your company to be the registered agent.
However, the appointed entity must satisfy the registered agent requirements to be a valid representative.
Depending on the type of business you run, this might be challenging.
In addition, being a resident of the state where your business is registered is not only a requirement but can also help ensure that the entity is familiar with the state’s business laws and regulations.
For these reasons, it is advisable to have a professional registered agent service when you form an LLC.
If you plan on opening additional businesses in other states, you will need to research whether or not you are required to have a registered agent.
Some states do not require LLCs to have a registered agent, while others require all LLCs to have a registered agent.
If you are unsure whether or not your state requires a registered agent, you can start your search by checking with your Secretary of State’s office.
The most hands-off solution is to have a national registered agent.
This service can provide peace of mind by knowing your business complies with all the states it operates in.
From getting registered agent information to updating your registered agent if your business moves, a national registered agent service can help you manage your businesses in multiple locations.
In addition, the business entity filing office in different states may have additional requirements for updates and changes to your registered agent information.
Ultimately, using a national registered agent service can help ensure that you always comply with each state’s requirements.
Articles of incorporation are legal documents that establish a corporation.
They are filed with the state government and contain the required data about the company, such as its name, address, and the names of its directors.
The state must approve the articles of incorporation before the corporation can begin operating.
A P.O. box can not be used as a registered office because it is not an actual physical address.
The registered office must be a physical location where the corporation can receive official mail.
A statutory agent is an individual or organization that agrees to accept the service of process on behalf of the corporation.
The statutory agent must be located in the state where the corporation is incorporated and must be available during regular business hours.
Regular business hours are typically 9:00 a.m. to 5:00 p.m., Monday through Friday.
However, some states require that the registered office be open during all business hours, including evenings and weekends.
It is essential to check with your state’s requirements to make sure you comply.
The address of the statutory agent has to be published, which is why many businesses use a professional registered agent service.
A professional registered agent service provides a physical address for your business and someone to accept the service of process on your behalf during regular business hours.
One can form various types of organizations when incorporated.
Two of these are for-profit and nonprofit.
For-profit corporations are formed to make a profit for their shareholders, while nonprofit corporations are included to further a charitable or public purpose.
Each state has different requirements for forming a corporation, so it is essential to check your state’s requirements to ensure you are forming the correct type of corporation.
The term “good standing” means that a corporation complies with all the requirements of the state in which it is incorporated.
This includes maintaining a registered office and statutory agent, keeping accurate records, and other business filings.
A corporation may be subject to fines or even dissolution if it is not in good standing.
Choosing the right registered agent when you incorporate is essential for your business.
Remember, business entities in different states may require additional updates and changes to your registered agent information as time passes.
Using the right registered agent service can help ensure that you are always in compliance.
Finally, knowing that your business is in good standing can also give you peace of mind and help you avoid any potential penalties.
Further reading on AdamEnfroy.com: Forming the correct legal entity when taking any of these small business ideas and starting your own business helps you protect your assets and ensure you successfully comply with state law and federal regulations.
In addition, having the right tools and resources can ensure that your business is organized and efficient, which can help you save time and money in the long run.
Here’s a list of the best CRM for startups that can help you get your business off the ground.
Such tools can automate repetitive tasks, keep track of customer interactions, and help you close more sales.
Finally, here’s a list of the best startup business credit cards for those without credit.
These cards can help you access the financing you need to start your business.