Editorial IndependenceWe want to help you make more informed decisions. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
A registered agent is a person or agency that will help you keep your business out of legal trouble, and all 50 states require one in order to start a business.
The biggest thing to ensure is that the registered agent you choose is legitimate, says Natalie Bullen, a financial advisor and CEO of Unapologetic Wealth Management. Every state is different regarding the requirements for a registered agent and what a registered agent can do. The responsibilities vary. You want to ensure youre dealing with a legitimate business by checking them out on the Better Business Bureau to ensure theyve got appropriate licenses for this type of work.
Your two options are to either be your own registered agent or hire an agency or business that offers a professional registered agent service. Many virtual mailbox services, such as iPostal1, Anytime Mailbox, and others, also provide registered agent services. Choosing the best representation for your business is important, as your registered agent is publicly listed on your official documents filed with the Secretary of State.
Heres what you need to know about the responsibilities of a registered agent, how to choose a registered agent for your business, and advice from business owners and financial professionals on what you need to consider.
Weekly commentary from our senior editor on the state of small business, side hustles, passive income, and pursuing financial independence.
Thanks for signing up!
Well see you in your inbox soon.
A registered agent is an individual or entity appointed by a limited liability company (LLC) or corporation to receive service of process, official mail, compliance documents, and legal notices on behalf of small business owners. A registered agent signs for and receives these documents.
The registered agent lets you know when documents are received, and can open or scan your mail on your behalf and send it to you. A registered agents main job is to ensure your business complies with state and federal laws by keeping you informed and filing annual reports.
Think of a registered agent as the gatekeeper for your business, which is why its essential to choose wisely.
Every state designates that business entities, such as LLCs and corporations, must name a registered agent to receive communications and other legal documents on behalf of the business.
You can be your own registered agent. Professional registered agents also keep copies of your official documents. In case of theft, natural disaster, or other unexpected losses, you will have a backup for all your business and legal documents.
You cant register a business without first having a named registered agent. For most states, not having a registered agent means losing your certificate of good standing. Losing your certificate of good standing with the state your business is registered in could mean losing legal protections.
Not having a registered agent also means no one available to accept legal documents, such as lawsuits, which could lead to untold financial and legal consequences. You could have a judgment against your business without your knowledge.
In most states, you can be your own registered agent. You can also hire a registered agent service to handle the role on your businesss behalf. However, there are some requirements.
In most states, you can be your registered agent, which means your name will go on the public record. Registered agents also have to keep regular business hours at your registered address, so its important to realize that if youre thinking about becoming your own registered agent.
In most states, a registered agent will need to list their name and address on the public record and keep regular business hours. Think about that when deciding who your registered agent will be.
I registered an LLC in Minnesota and chose to be my own registered agent, says Julio Molina, an entrepreneur and motivational speaker. The process of becoming my own registered agent was pretty straightforward.
Yes, your spouse can be your registered agent if they meet all the criteria required by the state where your business is registered. But you may want to consider whether they are the right person for the job, considering that their physical address will be listed on the public record.
A registered agent service is a professional organization or agency offering assistance as your official registered agent, and is the person available to receive legal documents and correspondence. These services can range from virtual mailboxes to lawyers and agents to guide services such as LegalZoom.
When I registered my LLC in Philadelphia, I handled the business formation myself and became my own registered agent, DeAngelo McCoy, a life coach and personal trainer. Its a personal decision as to whether or not youll be your own registered agent. Think about how comfortable you are with having your information be public.
You can hire an entity or service to be your registered agent or be your own, but its good to consider the pros and cons.
A registered agent service handles all the paperwork. You may not know the ins and outs of paperwork, but a registered agent service could.
The registered agent services name and address are listed on the public record, offering you privacy.
The registered agent service is experienced with processes and can guide you accordingly.
It could cost between $100 and $300 per year to hire a registered agent service.
If you hire the wrong service, your business could have major legal and financial consequences.
If you try to cut corners and use an inexperienced provider, you may miss important documents or other correspondence.
One other consideration is the size of your business. You may have a business registered in one state but have employees and operate in other states. You may need to hire a registered agent service to accommodate that.
I registered an LLC in Georgia and chose to become my own registered agent, says Maleeka Hollaway, who owns a brand communication and PR agency. When I started my business, I didnt know I had an option. I didnt understand my options until I started looking into expanding to another state and learned I would need someone there to get the paperwork.
If you desire to be your own registered agent, here are the steps.
When I registered my business in Washington, DC., I chose to be my own registered agent even though I have an accountant, says Isi Aladejobi, an entrepreneur who owns a career coaching consultancy. One thing to think about is if youre not strong with paperwork, deadlines, or organization, it might be worth it to hire someone trustworthy to help you out.
There is no cost if you choose to be your own registered agent. If you hire a service, typical costs can range from $100 to $300 a year.
The exact process varies from state to state, but yes, you can change the registered agent for your LLC.
If you want to change your registered agent, you must file a Change of Registered Agent form with the state where the business is registered. Most states provide downloadable forms online on the Secretary of States website. You can also request those forms in person.
Your state will require a change registered agent form and a form showing your new registered agent consents to being designated. Fill out and sign the forms, and your registered agent will have to do the same.
Once youve completed the forms, file them. Some states offer online filing, but you can also file the necessary documents by mail or in person. Check the exact requirements with the state where your business is registered.
There are several types of registered agents and definitions in the registered ecosystem. Here are the types and their functions.
A statutory agent or resident agent is another name for a registered agent. A statutory or resident agent is an individual or entity appointed by an LLC, S Corporation, C Corporation, or other legal business entity to accept legal documents, correspondence, and compliance paperwork. All states (other than New York) require business entities to officially designate a statutory or resident agent.
A commercial registered agent is an individual or entity that has filed a special listing statement with their states corporation authority. They are a type of registered agent that is a businesss legally designated recipient for service of process. Twelve states distinguish between a commercial registered agent and a noncommercial registered agent.
Commercial registered agents represent hundreds or thousands of companies and can inform the state what companies it represents and file bulk address changes.
Noncommercial agents are individuals or entities that have not filed a listing statement with the Secretary of State. Individuals and many single-state registered agent companies fall under a noncommercial registered agent category and only operate in one or a handful of states.
Service of process refers to the procedure for which a party to a lawsuit gives an appropriate notice of legal action. Its when you are going to be sued, and the paperwork needs to be delivered to you. A registered agent is a person that handles the service of process.
National or USA registered refers to a national registered agent service that works in all 50 states. Theres no such thing as a national registered agent because registered agents must be local, so a national registered agent is a team of registered agents, with one in every state.
BOC-3 process agent refers to a representative and form that designates an agent for service of process for freight brokers.
There are no free registered agent services. The only option for a free registered agent is if you decide to become your own.
Choosing the right registered agent or service is important for your business. Use this guide to decide the best option that aligns with your goals. Building a business with the right registered agent is a great way to create financial independence.
Weekly commentary from our senior editor on the state of small business, side hustles, passive income, and pursuing financial independence.
Thanks for signing up!
Well see you in your inbox soon.
Continued here:
What Is a Registered Agent? - NextAdvisor
- Bitcoin Halving: A History of Economics Shift & Financial Independence - Crypto Times - April 20th, 2024 [April 20th, 2024]
- Your Excuses Will Never Help You Build Wealth - DataDrivenInvestor - April 14th, 2024 [April 14th, 2024]
- Financial expert comments on Brits methods of obtaining financial freedom - IFA Magazine - April 14th, 2024 [April 14th, 2024]
- Women reveal why they chose financial security over love - Yahoo News UK - April 14th, 2024 [April 14th, 2024]
- This 48-year-old dad retired early to move to Panama with his family: 'This has been the greatest thing' - Fortune - March 29th, 2024 [March 29th, 2024]
- More than just housewives: Ministry encourages women to embrace leadership, financial independence - Sinar Daily - March 29th, 2024 [March 29th, 2024]
- Gender equality through Financial Independence (CSW68 Side Event). - Welcome to the United Nations - March 16th, 2024 [March 16th, 2024]
- Journal Club 03-15-24 - Passive Income MD - March 16th, 2024 [March 16th, 2024]
- How much money Americans need to earn to be 'financially independent' - CNBC - January 29th, 2024 [January 29th, 2024]
- What is Financial Independence, Retire Early (FIRE)? - Bankrate.com - January 29th, 2024 [January 29th, 2024]
- HUYNH: The Student Council endowment could ensure financial independence - University of Virginia The Cavalier Daily - January 29th, 2024 [January 29th, 2024]
- Crypto Sundae The Dog $SUNDAE: Your Path to Financial Independence - Medium - January 29th, 2024 [January 29th, 2024]
- Financial Independence through Crypto: Top 3 Coins That Could Transform Your Portfolio in 2024 - CryptoDaily - January 29th, 2024 [January 29th, 2024]
- Salary Success: Is $94000 the Magic Number for Financial Freedom? - Study Finds - January 29th, 2024 [January 29th, 2024]
- Early Retirement Is Just A Big Lie - Seeking Alpha - January 29th, 2024 [January 29th, 2024]
- 4 Strategies to Achieve Financial Independence in 2024 - Business Insider - January 4th, 2024 [January 4th, 2024]
- 3 Legged Stool of Retirement | investing.com - Investing.com Canada - January 4th, 2024 [January 4th, 2024]
- What is Coast FIRE? Should you pursue this instead of vanilla financial independence? | Mint - Mint - December 25th, 2023 [December 25th, 2023]
- Book Recommendations on Money, Investing, and Financial Independence - Business Insider - December 25th, 2023 [December 25th, 2023]
- How 12 years of tracking investments has been a life-changer - freefincal on YouTube - December 25th, 2023 [December 25th, 2023]
- Understanding the Path to Financial Independence in Retirement - TickerTV News - December 25th, 2023 [December 25th, 2023]
- Females On FIRE: 3 Diverse Women Share Their Journey To ... - Bankrate.com - November 30th, 2023 [November 30th, 2023]
- WA Parents Lead in Funding Adult Kids, Survey Shows - Source ONE News - November 30th, 2023 [November 30th, 2023]
- Saving, Investing, and Running Marathons: My 25-year Journey to ... - freefincal on YouTube - November 30th, 2023 [November 30th, 2023]
- The Clash Against The Magnificent Seven - Community Advocate - November 30th, 2023 [November 30th, 2023]
- What is the perfect age to retire? Here are the 5 crucial questions you need to answer now - AOL - November 30th, 2023 [November 30th, 2023]
- Italy Searches for Museum Leaders, With Nationalism in the Air - The New York Times - November 30th, 2023 [November 30th, 2023]
- In Africa, Gender Equity in Construction Shapes Tomorrow's Workforce - Autodesk Redshift - November 30th, 2023 [November 30th, 2023]
- How Lifestyle Inflation Is Keeping You In The Rat Race (Avoid To ... - New Trader U - November 30th, 2023 [November 30th, 2023]
- Small business ideas to start at university - Arizona Big Media - November 30th, 2023 [November 30th, 2023]
- Top 5 Investment Ideas for Beginners: A Comprehensive Guide - Goodreturns - November 30th, 2023 [November 30th, 2023]
- How Huawei Is Helping China Build Up Its Semiconductor ... - Bloomberg - November 30th, 2023 [November 30th, 2023]
- Patient experiences of being advised by a healthcare professional to ... - BioMed Central - November 30th, 2023 [November 30th, 2023]
- When You Should Consider Buying Even More Stocks | White Coat ... - The White Coat Investor - July 19th, 2023 [July 19th, 2023]
- Sanaipei Tande's insights on marriage, polygamy and financial ... - Nairobi News - July 19th, 2023 [July 19th, 2023]
- Real jobs for eager young people: The Heckscher Foundation ... - New York Daily News - July 19th, 2023 [July 19th, 2023]
- All about the Benjamins: Researchers decipher the secrets of ... - ND Newswire - July 19th, 2023 [July 19th, 2023]
- How To Become Rich With The Power Of Compounding - New Trader U - July 19th, 2023 [July 19th, 2023]
- Women Deliver 2023 | Together We All Lead - Procter & Gamble - July 19th, 2023 [July 19th, 2023]
- Acclaimed Temple psychologist's new book explores parenting adult ... - Temple University News - July 19th, 2023 [July 19th, 2023]
- Where Is Kate Chastain From 'Below Deck' Now? - We Got This Covered - July 19th, 2023 [July 19th, 2023]
- Programs that help NYC migrants achieve financial independence ... - New York Daily News - June 26th, 2023 [June 26th, 2023]
- ChatGPT gives 10 reasons why you should buy Bitcoin - Finbold - Finance in Bold - June 26th, 2023 [June 26th, 2023]
- Scottish independence reset undermined by confusion over SNP ... - Financial Times - June 26th, 2023 [June 26th, 2023]
- It's Never Too Late to Become a Millionaire - New Trader U - June 26th, 2023 [June 26th, 2023]
- Milford Foundation Partners With MoneyTime To Improve Financial ... - Scoop - June 26th, 2023 [June 26th, 2023]
- Bitcoin ETFs: What Are the Potential Implications for Crypto? - Captain Altcoin - June 26th, 2023 [June 26th, 2023]
- De-dollarization will be a priority talk at BRICS meeting Cryptopolitan - Cryptopolitan - June 26th, 2023 [June 26th, 2023]
- Gen Z viewers are more inclined towards 'Financial Independence Retire Early' concept: Rachana Ranade - Times of India - February 7th, 2023 [February 7th, 2023]
- FIRE Movement: What It Is And How It Works - NerdWallet - January 31st, 2023 [January 31st, 2023]
- FIRE: Financial Independence, Retire Early Forbes Advisor - January 31st, 2023 [January 31st, 2023]
- Priyanka Chopra Jonas' idea of financial independence is inspirational and how! - Zoom TV - January 27th, 2023 [January 27th, 2023]
- Independence Realty Trust, Inc.'s (NYSE:IRT) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects? - Simply Wall... - January 27th, 2023 [January 27th, 2023]
- What Is Financial Independence? Forbes Advisor UK - January 19th, 2023 [January 19th, 2023]
- The FIRE Movement: Financial Independence; Retire Early | Britannica Money - January 19th, 2023 [January 19th, 2023]
- Home | NextAdvisor with TIME - January 6th, 2023 [January 6th, 2023]
- Why Financial Independence with Children is Challenging. - December 28th, 2022 [December 28th, 2022]
- 8 Levels Of Financial Freedom - Forbes - December 23rd, 2022 [December 23rd, 2022]
- Independence Contract Drilling, Inc. Reports Unaudited Financial ... - November 25th, 2022 [November 25th, 2022]
- How Much Money You Need to Retire Early in All 50 States - NextAdvisor - November 25th, 2022 [November 25th, 2022]
- Funding | The Official Website of The Duke & Duchess of Sussex - October 23rd, 2022 [October 23rd, 2022]
- What the Future Voices of Personal Finance All Have in Common - NextAdvisor - October 19th, 2022 [October 19th, 2022]
- How this 41-year-old went from 'living on credit cards' to retiring early with $3 million in California - CNBC - October 19th, 2022 [October 19th, 2022]
- Insights on What Really Matters to Participants - PLANADVISER - October 19th, 2022 [October 19th, 2022]
- On the road to financial independence - The News International - October 19th, 2022 [October 19th, 2022]
- Womens center announces expansion to address domestic violence throughout the region - Houston Public Media - October 19th, 2022 [October 19th, 2022]
- PSLF Waiver Application Deadline - The White Coat Investor - October 19th, 2022 [October 19th, 2022]
- Fairfax Financial and Independence Pet Group Receive All Regulatory Approvals To Complete Sale of Global Pet Insurance Operations - GlobeNewswire - October 19th, 2022 [October 19th, 2022]
- Sustainable Bitcoin Miner CleanSpark Welcomes Investors and Analysts to its Mining Campuses in Atlanta - GuruFocus.com - October 19th, 2022 [October 19th, 2022]
- Deep Well Project to host open house for new financial stability initiative - WSAV-TV - October 19th, 2022 [October 19th, 2022]
- IIM Grad Quits Job to Help Over 1000 Women in Bihar Scale Their Small Businesses - The Better India - October 19th, 2022 [October 19th, 2022]
- Harry's Memoir Will Be 'Quite Revealing' 'If We Ever See It'Jeffrey Archer - Newsweek - October 19th, 2022 [October 19th, 2022]
- Where Harold Weilbrenner and Janice Weiner stand on issues in the Senate District 45 race - Iowa City Press-Citizen - October 19th, 2022 [October 19th, 2022]
- Moliy Is Swimming Against the Tide of Mainstream Afropopand Succeeding - OkayAfrica - October 19th, 2022 [October 19th, 2022]
- From Chaos to Success: The Mike Koshatko Story - Digital Journal - October 19th, 2022 [October 19th, 2022]
- SEC Warns Auditors to Take Their Role and Independence Seriously - JD Supra - October 19th, 2022 [October 19th, 2022]
- Suze Orman Hates the FIRE Movement. Here's Why - The Motley Fool - October 13th, 2022 [October 13th, 2022]
- 59% Of Working Women Rely On Patriarchs To Take Financial Decisions - HerZindagi English - October 13th, 2022 [October 13th, 2022]
- Unprecedented collaboration launched to take on the underrepresentation of women in financial advice - Yahoo Finance - October 13th, 2022 [October 13th, 2022]
- 37-year-old millionaire reacts to couple who retired early with $2.2 million in Portugal: It's 'like cheating' - CNBC - October 13th, 2022 [October 13th, 2022]