‘What is the role of the registered agent?’ is one of the most frequent questions we get asked. Hence, we have decided to compile this miniguide to help you better understand the role of a registered agent in the life of your company.
In both Wyoming and Delaware, the two states Firstbase.io incorporates businesses in, there is a requirement for the company to be represented by a registered agent. Failure to do so will result in the dissolution or revocation of the company.
There is only one role for a registered agent—to receive and deliver paperwork on behalf of the business. That’s it.
The role of a registered agent can simply be summed up as being an advocate for your business. Great, right?
They are responsible for notifying you before every filing and helping you stay compliant with regulations.
Registered Agents look out for your best interests, especially if you are a foreign business owner, so you can focus on what’s really important: actually running your business.
For example, when people think about incorporating their business, one thing that comes to mind is establishing a physical office location where employees work daily while running operations behind closed doors. While this image may make sense when talking about large corporations like Google Inc., small businesses often function differently.
A registered agent is responsible for keeping the business's legal address up to date so you can operate without having an office or storefront open to the public.
They will basically represent you in the US, so you can easily maintain flexible business hours and operate in an entirely different country or continent.
One of the biggest benefits of using a US registered agent service is that it takes away some responsibilities from entrepreneurs when establishing their business in the US, especially if they are not located here physically.
With a registered agent filing paperwork and staying compliant with state regulations on behalf of your company, you have more time to focus on making important decisions about growing the business instead of worrying about filing forms before the deadline.
For example, the registered agent will send you a letter every year in December announcing that your annual report is due. This way you are able to stay compliant and avoid getting fined.
The registered agent's services aren't limited only to government communication - they are also there to help with other matters relating to compliance requirements. Some of these duties could include providing information about taxes or mailing addresses for official documents.
Once the onboarding team receives your EIN number and completes the registration process, including all the necessary bank documents, they will notify you by e-mail and then transfer your account to your registered agent's online portal.
You will receive a Welcome email introducing the new registered agent and a password creation email that will let you set a password for accessing the portal with your email address. If you do not find the email in your inbox, please check your spam/junk folder as it might drop in there.
Firstbase.io works with Cloud Peak Law, the registered agent for all our customers.
By registering your company with Firstbase.io, the first year of the registered agent will be free! After this, the fee should be around $49 per year.
If you'd like to get more details about this, click here.
DISCLAIMER: This article is based on general information about registered agents and it does not constitute professional legal advice or opinion.
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