When it comes to creating an LLC, you are in need of either hiring a registered agent or being your own registered agent. It cannot be avoided as a step, for it is compulsory to have one and register it with the state that you have chosen to apply your LLC in. A registered agent is someone who takes on the responsibility of handling lawsuits, tax purposes and all legal documents for your company. In this article, we will focus on whether you should be your own registered agent or not.
What are the requirements to be a self registered agent?
Regardless of which state you wish to apply in, the requirements are pretty much the same. If you elect yourself as a self registered agent, you would need to be 18 and over, present at the office at all times and have your address on public record. If you are served, it would have to be done in front of your family and colleagues. You are meant to be working the government hours of 9 to 5 and you cannot leave the premises, for you cannot miss any important paperwork deliveries.
What’s the benefit of being a self registered agent?
Being a self registered agent can save you additional costs of hiring extra help from a registered agent company. You are also able to manage all of your documents accordingly, with the self awareness that you have to meet certain deadlines on time. This also means that you can be avoiding errors that can be costly to your company.
What’s the disadvantage of being a self registered agent?
If organisation isn’t your strongest characteristic trait as a person, it may be a struggle for you. All the responsibilities may pile up leaving you nothing but the feeling of pressure as you try to maintain organisation and multitask in different roles.
Another disadvantage is that you are tied down to the office, which means that all meetings or other activities would have to be held under the same roof, since you cannot afford to miss out on any important deliveries. If you are served a lawsuit, it will not be done discreetly either.
Can I change registered agents?
This is possible to do so and it can be done by filling out additional paperwork in order to make changes. If you wish to change from being a self registered agent to a company or vice versa, you would have to fill out the appropriate paperwork that is dependent on the state that you are in. You would also have to pay a fee, which can range anywhere between $0 to $50.
What can a registered agent do for me?
Registered agents specialise in this field, so each company has very similar models in regards to organisation and time management. For example, they are good at compliance management by setting reminders for important deadlines and for the annual report.
They keep all of your legal documents together in one place, which means that you can view it online with their scanning system. Whenever you need additional help or have any questions in relation to important paperwork, they are there to help provide you client support.
Deciding on whether you should be a self registered agent or not is very crucial, because it can cause either a positive or negative effect for your business. If you have the right skills and can handle multitasking, then being a self registered agent can be suitable and efficient for you. However, if you are not able to balance all tasks of the workplace accordingly, then it is best to hire professional help. There is the positive thought that you can change your registered agent whenever you want to, but you have to comply with the paperwork and fee procedure according to the state that you are in.