When you’re starting a business in Minnesota, you need to retain the services of a Registered Agent to become legally compliant with state rules and regulations. This is because one requirement to legally incorporating a business is hiring a Minnesota Registered Agent.
A Registered Agent is a third party entity designated to receive service of process, tax forms, and any other legal correspondence and notice from the Secretary of State or any other government agency. It is the responsibility of the Registered Agent in Minnesota to accept these legal documents on behalf of a business.
The Registered Agent is in-charge of sorting all legal documents for your business, and forwarding these documents on time to you for the appropriate action. As a Registered Agent is a legal requirement, failure to comply with this requirement will incur fines and worst, revocation of license to operate.
As the Registered Agent position is a crucial one, this guide will point you in the right direction on hiring the perfect Minnesota Registered Agent.
When hiring a Minnesota Registered Agent, there are some state-mandated requirements and restrictions that must be observed to be legally compliant. The following qualifies for the Registered Agent position: (1) an individual of legal age who is a resident of Minnesota; (2) a Minnesota business entity; or (3) a foreign business entity legally registered with the Secretary of State to operate in Minnesota.
A Minnesota physical address has to be provided by a Registered Agent (a P.O. Box is not a qualified physical address). Before accepting the designation, the Registered Agent should agree to be the business’ representative in accepting service of process and other tax and legal documentations forwarded by the Secretary of State and other government agencies. In Minnesota, you cannot be your own Registered Agent.
Before you choose a Registered Agent or Registered Agent service for your business, do your research. One very important thing that you have to remember is credibility. A Registered Agent must always be efficient because they will be at the forefront of your business.
Aside from this, you also have to look into if a Registered Agent has a legitimate working office because legal documents are usually delivered from 8am to 5pm, Monday through Friday; so you have to make sure that the agent you choose has this. These are just some suggestions, at the end of the day, the decision is up to you.