A registered agent is an individual that is designed to receive service of process notices, correspondence from the Secretary of State, and other official government notifications such as tax forms or lawsuit notifications. Most states require registered businesses to designate a registered agent and require the name and address of the agent to be on file with the Secretary of State. However, unlike most states, Minnesota does not require domestic companies to name a registered agent.
Another Business as the Registered Agent
Another business can also be designated as a registered agent. As long as the individual or business you choose to be a registered agent has a permanent physical address, and you trust them to handle business matters on behalf of the company, they are eligible. The address of a registered agent is public record so it is important they understand the duties and ramifications of serving in that capacity.
Trusted Third Party as Registered Agent
Many companies prefer to use a trusted third-party business as a registered agent because it provides a level of separation and protection. However, it is important that you appoint a registered agent whom you can trust to follow through with their responsibilities and keep you informed on all important business matters. Failure in this area could cause significant problems for your business. For example, if the registered agent for a company is served with a lawsuit, but the person fails to notify the business, the company can lose their case by default. When another business is hired as your registered agent, it provides you with more assurance that your business will always be aware of the documents and notifications that are sent to you. Registered agents can be changed at any time as long as the state is notified and any applicable fees are paid.
Business Formation With Safe Shield
Safe Shield serves as the registered agent for many companies and has the experience and dedication that make them the trusted choice for business formation and compliance. If you are interested in pursuing the exciting and rewarding process of starting your own business, we encourage you to review our Business Formation System Page. Once you have completed the initial step of forming your business, our Ongoing Compliance Service can prepare your business for long term success and help each step along the way. To find out more on what Safe Shield can provide for you, schedule a phone call with one of our experts.