What Is A Registered Agent?
When you create a business you need a registered agent. If you are an LLC company you need to have a registered agent by federal & state law.
A registered agent refers to a responsible third-party person or company mandated to receive service of process, notice of lawsuits, tax forms and any other official mail on behalf of a business. States require registered business entities to appoint a state registered agent on their registration article of the organization. This business entity can be either limited liability companies (L.L.C.), corporations, limited partnerships, among others.
The registration article of organization/article of incorporation is filled and filed with the states. The information provided once filed becomes public record. A registered agent receives any formal contact with any government agency or individual, the registration will soon after forward any of this legal documents or mail to the business owner as soon as possible.
Why are businesses required to appoint registered agents?
The state requires businesses to appoint a registered agent because if a lawsuit is filed against your business in court, the lawsuit cannot proceed unless one party can prove that the other party was properly notified. If a business owner is not clearly notified and there is no one to proof the notice was issued, the business owner would easily evade the lawsuit as in court a lawsuit cannot proceed without clear that the business owner has been noted of the lawsuit.
It is for this reason registered agents are important and required by the state. Registered agents are a reliable and systematic means that guarantee all business receive any official communication and any legal notice. Registered agents are a convenient and reliable way for the state and the general public to contact any business.
What is the function of registered agents?
A registered agent will fulfill the following functions:
- Help you file business forms and provide a detailed report on your business status.
- Notify you when the annual business reports are due to the state.
- Provide you with a recommendation on your business and help with document filings.
- Secure document access – a registered agent will offer you secure online access to important documents.
- Software assistance – a registered agent will provide you with software to help better manage your business records and documents.
What is the state requirement for registered agents?
Most states have the following requirement for registered agents?
- Physical address –every registered agent is required to have registered office, where they receive and accept service of process.
- State residence – in most states registered agents are required to be residents of the state they service as a registered agent or they must maintain a physical address in the state.
- Availability – registered agent is required to be available to accept legal documents and official mail during business hour i.e. between 9 a.m. to 5 p.m.
The question still remain why should you hire a registered agent?
For a business with a low risk of getting sued to hire a registered agent could look like an avoidable expense, however, this is not a risk we would recommend you to take, given the potential penalties that include losing your business status and liability shield. In the long-term, hiring a registered agent for LLC (Limited liability company) will prove to be a beneficial.
Our fee for registered agent is $200 dollars a year . This is not including copying fees or shipping fees to forward such important documents.
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