A registered agent or also known as a resident agent or a statutory agent, is an entity or an individual designated by a company to receive and/or process any documents that are legal in nature. They are also designated to comply to notices issued through state government correspondence such as notifications about state and federal taxes.
It is possible to be your company’s own registered agent as long as you meet certain requirements as stated by law. Although it is tempting, it is really not advisable to be your own company’s registered agent. With the amount of legal responsibility that would be thrusted on you, being your own registered agent would not only be detrimental to you, but also very risky for your business.
Registered agents are very crucial for companies, especially if they do business in other states, or if they are not based in the state where they conduct business in (example you are from Rhode Island and your business provides a service in New York). This is where a registered agent could become your primary contact when it comes to legal matters concerning your business.
The registered agent service becomes the entity to receive all notices and service of process for your business. The thorough procedures followed by these registered agent services make sure that they can track anything received in behalf of your business and ensures that it will come to your attention as quickly as possible.