It’s a common thing to have a registered agent for a business, because it not only helps you grow and develop, but also takes the pressure off your shoulders and those of your employees. As you can already understand, a registered agent is a must for newly-formed businesses, because in most cases, they appear to be mandatory by state governments.
Functions of Registered Agents
People mostly know them as registered agents, but sometimes they are also called statutory agents, resident agents, and so forth. First of all, it’s important to mention that a registered agent can be either a person or a business entity; but what’s more, you can even become your own registered agent if you want to.
Not having a registered agent may lead to unwanted end results, such as fines, failure in participating in contracts of legal character, and other things that may jeopardize your company’s protection, good standing and of course, existence. But let’s now focus more on their functions, on what they really do for a company.
After choosing a registered agent, it automatically becomes a party which is in charge of the official documents your company may receive. It can be anything: official state and tax documents, lawsuits, notices and so on.
Registered Agent Address (And a Bit of Business Address)
Registered agent address is always confused with business address, and is always an arguable and perplexing topic to discuss. But let us at Prestige Auditors tell you that business address and registered agent address are very different things.
Normally, a registered agent should have a physical address, and people often call it a “registered office.” This address is usually issued to the state with the intention of receiving official documents in that certain location. Since the registered agent is your company’s contact person, they are going to accept official documents on behalf of your company and in the location they provided as their physical address. But that’s not the end!
Being a registered agent requires responsibility and reliability, which means that prior to working with them, every single nuance should be discussed. Working with a registered agent, you’re going discuss and set specific working hours during which the registered agent must be available. The reason for this is the method of handing documents. Normally, these are given personally to registered agents, and logically, they should put their signature as a sign of the letter or document being received.
Meanwhile, a business address is often considered as the place where your business mainly functions, where your operations take place. And please note that a business address may be either the address where your business was incorporated, or the address where it is operated from.
In our upcoming articles we will also talk about other addresses. That’s because when choosing (and forming) a business entity, you are going to submit your registered agent’s address. Sometimes, in certain states, you will also need mailing and business addresses. So, don’t worry, we’ll talk about these as well!
We know that forming a business entity without proper information is hard, because even the most popular and comprehensive websites don’t contain the information that starters really need. We at Prestige Auditors do understand that you, as a novice businessperson, will need to know everything from scratch, and we are ready to help you with that! Get in touch with us, and soon, you’ll see the results for yourself!