Finding a registered agent has the potential to be a difficult task and can cause a business owner to search for any other possibilities. Did you know you can be your own registered agent? There are just a few steps to be qualified to be your company’s personal registered agent.
A registered agent is an individual or entity that has agreed to intercept legal forms and documents on behalf of a company. They are responsible for keeping up with essential documents, alerting the company of critical deadlines, and process legal information.
There are certainly benefits to hiring someone else to be your company’s registered agent, such as the ability to hand over the work and free your time. Also, if you’re not necessarily the most organized business owner, taking the registered agent tasks off of your plate will allow you to allocate your attention and effort elsewhere. However, there are plenty of upsides to being your own registered agent as well.
Operating as your company’s registered agent will save you large sums of money as time goes on. The average cost of a registered agent can span anywhere from one-hundred to three-hundred dollars a year. This might seem like a small price to pay if you are an owner of a multi-billion dollar company, but if you are just starting out and trying to get your company off the ground, the cost might seem a little more intense.
If you are a business owner who desires to direct your company’s documents and pressing deadlines, naming yourself as your own registered agent might be best. When you hire someone outside of your company to serve as your agent, there are many more chances that something could get overlooked, and you risk being less informed than you might prefer.
When you’re launching your start-up company, your plate is already overflowing, and you might not have the time, effort, or money to pour into finding a registered agent. When you know that you will always be available to serve as your own agent, the weight is lifted from your shoulders, and you will be able to move forward and complete the more critical tasks that are involved in launching a business.
The question, “Can I be my own registered agent?” has sparked controversy at times, and some think you must hire an individual or another company to serve as your agent. In fact, this is not true. You can serve as your company’s registered agent. Still, before you are able to commit to those responsibilities, you must know how to qualify and become your own registered agent.
There are three main requirements that you must uphold to qualify as your own agent. First, whomever you assign as your RA, yourself, or another individual must be at least eighteen years of age or older. Remember, you will need to have the authority to sign legal documents. A minor’s signature holds no real power, so for this reason, it is strongly enforced that your RA must be a legal adult.
Second, you must have a physical address, not a P.O. box, located in the same state in which your business is found. Lastly, you will want to ensure that you are available during typical business hours to accept incoming documents and messages. This could be one of the more burdensome requirements when it comes to being your own registered agent, especially if you tend to run on a different schedule. If you do happen to be in the office for a typical nine-to-five schedule, you might be able to make it work.
In conclusion, you are able to serve as your own registered agent, and there are benefits to doing so. However, there are also some cons that you will have to look out for if you choose to go down that path. As long as you ensure that you are eighteen years of age or older, you have a physical address in your company’s state, and you are able to be reached during typical business hours, you’ll be just fine. Being your own registered agent might just be the best choice for your company.