What is a Registered Agent
What is a Registered Agent?
What is a Registered Agent?
A registered agent is a legal resident of the state the business is doing business in that also maintains a physical address there. Registered agents must be open during normal business hours to accept service or process and any legal notifications on behalf of a company. All states require a Corporation or an LLC to have a registered agent.
Why is a Registered Agent Required?
Since a business is not a real person, someone has to be designated to receive notices on behalf of the business. The registered agent address is the address that will be used by the state for any official, legal, and tax correspondence. The registered agent’s address must be a physical, in-state, street address; P.O. Boxes are not acceptable.
Failing to register and designate a registered agent in the state may prevent or hinder the company’s ability to legally enter into contracts and gain access to state courts. Moreover, it may subject the company to monetary, civil, and possibly criminal sanctions. Also, failure to maintain a registered agent may cause your company to fall out of “good standing†within the state. This will subject your license to do business within the state to forfeiture, with monetary penalties assessed to reinstate your company to a “good standing†again.
When do you need a Registered Agent?
You’ll need to search and hire a registered agent if you are incorporating in the state, or registering an out of state entity (foreign corporation), or are doing business in the state (subject to certain exceptions).
A registered agent is required for each and every entity, that is, each corporation, limited liability company, limited partnership, limited liability partnership, professional corporation, professional association, etc.