Once a business is formed on the state level, most jurisdictions require corporations or Limited Liability Companies to designate a registered agent to receive documentation on behalf of the company. Very simply, a registered agent is an individual or entity upon whom documents relating to the corporation may be served.
To remain in compliance with state law, a Registered Agent must be designated to receive correspondence on behalf of the company. A Registered Agent will typically receive business and legal documents from county, state, and U.S. agencies on behalf of the corporation and/or LLC. These documents include such things as notice of litigation (service of process), franchise tax forms and annual report forms.
The Registered Agent must have a physical (street) address in the state in which the company is formed. This means no P.O. Boxes. In addition, the Registered Agent must be available during regular business hours to receive service of process. The Registered Agent’s name and address are listed on the formation documents of the business and that information is kept on record as the official contact for the company. In fact, Registered Agent information is considered a matter of public record.
The failure, to register and designate a registered agent may hinder the company’s ability to
- legally enter into contracts and gain access to the state court system. Moreover, it may;
- subject the company to monetary, civil, and possibly criminal sanctions.
- Also, failure to maintain a registered agent may cause a company to fall out of “good standing” with the state or;
- may cause a jurisdiction to revoke a business’s corporate or LLC legal status.
An officer or owner of the business can serve as a Registered Agent; however, many entities find it easier and more reliable to select a third-party Registered Agent Service skilled in providing such services. Even if you are located in the state in which you are incorporated, there are many benefits to using a Registered Agent Service. One such benefit is that the Registered Agent Service’s information is listed on the formation documents and becomes a matter of public concern. In essence, the Registered Agent Service can put a layer of privacy between your business and the public and may reduce the amount of solicitations your company receives.
If a document must be served on the company, it will be served to the independent third party, as opposed to serving you with legal and/or personal business documents in the presence of customers, clients, vendors, employees, and/or neighbors.
Another benefit of selecting a Registered Agent Service is that you do not have to be concerned with being continuously available to accept important business and tax documents or dealing with difficult and often annoying process servers. This will be handled by the Registered Agent Service on your behalf.
It is far more safe and efficient to select a reliable third party that has experience as a Registered Agent. It is important that businesses select a highly reliable company that has been approved by the appropriate state agency to serve as a Registered Agent. Using a Registered Agent Service provides business owners with timely and efficient service as well as peace-of-mind regarding important business documents.
When working with MyCorporation, you have the benefit of Intuit, Inc’s backing, and the knowledge and security that MyCorporation has been providing exceptional Registered Agent services to customers for years.
Designate MyCorporation as your Registered Agent today!