What is a Registered Agent … And Do I Need One?
When you created your LLC or Corporation, it made your business a separate legal entity from you personally. And because it’s a separate entity, it also needs to state who can get its mail, who can accept service of process, legal documents, and government notices on its behalf.
The Registered Agent (RA) is that person or company that the company has authorized to accept these documents on its behalf, and must have a physical location in the state where the business is registered to operate. You are legally required to appoint a Registered Agent for your business, and your company can be viewed as non-compliant if you don’t have a sufficient Registered Agent. Luckily, it’s pretty easy to be compliant in this area with a Registered Agent Service.
Who can be your Registered Agent?
In most states, it can be an individual who is at least 18 years old and a resident of the state, or a company who can act as the Registered Agent for the company. The Registered Agent’s location is included in your Articles of Incorporation (Inc) or Organization (LLC) and must have office hours from 8 am to 5 pm, Monday through Friday at that location.
Can you be your own Registered Agent?
Technically, you could be the RA for your company, sure. As long as you have an office location in the state where your business is located and you are present at that address every business day from 8-5 pm (translation: no travel, no quick errands, no afternoons at the coffee shop, school visits for the kids, etc.)
Because of the limits of the presence required (which really conflicts with the freedom that our clients started their businesses to have), we usually recommend that you purchase a Registered Agent Service.
How much does it cost?
It’s less than $200 per year for the service, which is well worth the peace of mind to not have your personal home address listed with your business online and know you will get any important legal/corporate documents scanned to you.
We recommend the Registered Agent service with CorpNet, you can contact Amanda at CorpNet via email to aberen at corpnet dot com. Tell her Empowered Profit sent you, and she will take great care of you and walk you through everything.
And, if you need our support with this or any other financial management or tax issues in your business, book a call with us today and we will help you get it all sorted out!
This is provided as information only and as a starting point for a conversation with your own legal and accounting team, this should not be considered legal or financial advice. All of these decisions are based on a number of factors and we cannot guarantee that you will experience any specific results based on any information provided. Please speak with your own retained professionals to ensure that you are making the best decisions for your business & personal situation.