Registered Agent A registered agent is an individual that is charged with the responsibility of the handling of a corporation within a specific state. Every corporation is responsible for assigning a person as the registered agent for the company. There are no limitations as to which persons are eligible in becoming an agent for a company. However, the agent must be able to be contacted at a physical location during regular business hours. Are you in need of a third party registered agent for your corporation? Contact a CPA regarding the assignment of a registered agent today. Some other responsibilities that the registered agent may be in charge of handling are: - Submission of Business Entity Reports
- Registration of employer identification records
- Filing annual reports for Tax Standing
- Responding to legal actions which regard the corporation entity
In most business situations, a registered agent is assigned at the time of the formation of the corporation. Another common practice is for a third party to act as a registered agent for the corporation in order to act as a shield of anonymity to the clients of the corporation from legal proceedings or actions that may develop. In the event there is a lawsuit or other civil liability against the business, the third party agent or agency will receive notification of the process and forward the matter over to the principal(s) of the company. Other benefits to having a third party act as a registered agent of the company is for the management of financial filing and reporting responsibilities. For instance, if a corporation files a delinquent tax report, there may be serious financial and legal repercussions. A registered agent that takes on this type of roll is generally referred to as a Compliance Manager. For this reason, a CPA or a lawyer may be assigned as a registered agent. Are you in need of a third party registered agent for your corporation? Contact a CPA regarding the assignment of a registered agent today.
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